Developing a CRM Strategy

This is common question, and it does not help when answers differ. There is a lot of confusion between a CRM business strategy and a CRM implementation strategy or plan. A CRM strategy is the blueprint for how you are going to achieve the ideal customer base. To do this means revisiting the marketing strategy. What products/services are you going to sell, to whom, at what price and through what channels. In a CRM strategy, this is extended to how is the enterprise going to build customer loyalty once it has got its target customer. How is it going to......
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Developing a CRM StrategyDevelopingaCRMStrategy Jennifer Kirby KeyIssues • What is a customer relationship management (CRM) strategy? • How does a CRM strategy fit in with other business strategies? • Only 10 percent to 15 percent of companies know the value of their customer base — yet, this is an important intangible asset and drives the detailed tactics of the CRM strategy. • The benefits of CRM come through increased service and communication; to build real loyalty, how is this managed effectively?These slides are for internal use only. External use of Gartner copyrighted material must be approved in writing byGartner Vendor Relations. Please e-mail your usage request to quote.requests@gartner.com for approval. WhatIsaCRMStrategy? • “It boldly states the ideal customer base and how an organization intends to get and keep it. I’ve never yet seen one that does this to any depth.” — CRM Consultant • “…It’s the decision about which customers are to be managed, via which channels for which products and services: It means revisiting the marketing strategy.” — CRM Guru • “A CRM strategy is not an infrastructure road map.” — CRM Program Manager • “We need to understand what customers we have, and who we want, then we can put in place a strategy for developing the value of each segment” — CEOThese slides are for internal use only. External use of Gartner copyrighted material must be approved in writing byGartner Vendor Relations. Please e-mail your usage request to quote.requests@gartner.com for approval. ACRMStrategy:Developingthe CustomerAssetBase How do we create awareness of what we offer to potential customers of value? Target Win Back Enquire How do we How can we Customer acquire retain or win Retain Life Cycle valuable back Acquire customers Sales Service Marketing customers who will of value? Manage Welcome value us? Problems Develop How do we do this How do we develop the efficiently? customers’ loyalty and value to us by developing our value to the customer?These slides are for internal use only. External use of Gartner copyrighted material must be approved in writing byGartner Vendor Relations. Please e-mail your usage request to quote.requests@gartner.com for approval. CRMStrategy: TopRankingObjectives B2B Percent of Companies Ranking as Top Priority B2C Retention 47 47 Development 37 26 Acquisition 16 27 Annual loss in a typic ...