Customer relationship management (CRM) has transitioned and evolved over the last few years. Its adoption is powered by the rapid growth and popularity of SaaS tools. Too many companies have adopted CRM in order to cater to customers in a better manner and hence build loyalty. However, often implementing CRM does not yield the results as expected.
CRM policies turn out to be ineffectual. This happens because, organizations over emphasize on CRM as a technology and undermine its importance as a business strategy. The key is to view CRM as a strategy, and not as a technology.
Challenges of CRM
Inadequate deployment methodologies, lack of insight while defining business requirements and lack of alignment of the CRM strategy with the defined business purposes are the primary challenges companies face while implementing CRM initiatives. In addition to these problems, change management is also a big challenge. People are hesitant and slow to adopt changes, and it becomes difficult to align the new strategies with the ongoing way of working.
Surviving the Competitive Marketplace
Today the marketplace has become highly competitive, driving companies commercially. This is exactly why; companies need a clear chalked out strategy for future growth & expansion, making strategy for customer relationship management, a necessity.
A Different CRM Strategy for a Different Purpose
The reasons for companies to connect with their customers might differ, vastly or marginally. While some enterprises may aim to garner more customers and improve their sales, others might be on a look-out to connect with a different market segment due to expansion plans, and there might be some who want to convert their wide range of customers into a loyal customer base. Now as the requirements are different, the approach needs to be different.
Fix it and forget it? No way!!
Now, it is not a ‘fix it and forget it’ concept, CRM strategies need to be revived, renewed and changed according to the changing needs and purpose, in accordance to volatile markets. Companies need to replace old strategies with new ones, to deliver an enhanced quality and a better customer experience. Besides, today platforms across which customers interact, are also rapidly changing and evolving. Organizations need to move away from the dated mass automation strategies and focus on human expedited interaction.
Off-late, social listening has also gained prominence, it allows enterprises to gain insight into customer requirements and competitors products and brands as well. Communicating with customers across varied channels and devices, helps give your interaction a personal touch, and hence customers relate to and indentify your brand in a better manner.
CRM Strategy Planning needs a Collaborative Approach
CRM cannot be secluded to a particular team, department or individuals; it demands collaborative inputs and dedicated efforts in the right direction. Inputs from all the teams and involving every individual in a CRM strategy creates way for growth.
All said and done, is it really so easy to revive and revise CRM Strategies often?
Of course not! So now what can we do to prevent getting locked into difficult and time consuming transitions? The key is to choose a CRM system that can be easily configured to adapt to the changing needs and requirements.
Companies need to understand & follow the thumb rule to customer relationship management. Do not think of CRM as a mere technology, think of it as a strategy that will help you take your business to the destination your have always wanted to reach.
If you do not have one, plan for it now, and if you already have one, however you are not achieving the expected results then it’s time to review, refine and revive your CRM strategies.
About Author:
Chirag Shivalker is Head of Content Team at Crispy Codes. With a decade long experience in technology writing and trend analysis Chirag is an expert in technology and technological trends along with business writing.
