Friday, May 27, 2011

CRM’s final frontier.. no frontiers, no borders, no limits

CRM is still working through the implications of Social; from my perspective so far Social CRM has been narrowly defined by those that try to support and practice it ,and we are yet to realize its true potential...   And now the next shock wave approaches..  way before we have even absorbed the 1st one.

What am I talking about?  Allow me to circumvent a little before I get to the point.

I happen to remember the early times of CRM, way before it had the name.. I remember the siloed supply management system, billing system, sales force automation systems, customer service systems, support systems..  In hindsight it was clear that was madness; the duplication of effort was clearly prohibitive from a cost perspective, but the cost of the missed opportunity was drastically higher; while I have never been fond of the “360 degree view of the customer” phrase it does make the point: comprehensive knowledge and understanding of the relationship with the client, coupled with comprehensive knowledge of the client (products owned, problems experienced, open opportunities, etc,) puts the organization in the position to offer better supports and services.

Lets fast forward to today; what is the situation of your relationship with your client? if you are keeping up with the times you have all sort of digital relationships with them.. you reach through advertising and bring them back to micro sites.. converse with them through a multitude of social media channels, invite them to check in, dialogue with them through their mobile devices, bring them in and reward their participation in loyalty programs...   every contact, every step, every campaign renders invaluable data that informs you about the nature of your client and your relationship with them, yet it is siloed and mostly lost.. every campaign re-invented, every new program begins from scratch... sounds familiar?

But that is changing.. the online space technology is catching up, and even before the business is ready to take advantage of the benefits we have a new set of offerings called Data Management Platforms that are capable of capturing, rationalizing and merging all of these data points, enrich them with third party data and funnel it to where the data is actually actionable, wherever the data is actionable.

In this new world there are no limits to where and how the organization can find, engage and interact with the client. Wherever they are, whatever they are doing it is possible to present them with a relevant experience, an appropriate call to action, an appealing value proposition, The advertising infrastructure has now become a customer relationship infrastructure, and it opens amazing new opportunities and possibilities.

It is exciting, it is promising, and it is only the beginning

What do you think?

Filiberto Selvas

1 comment:

@grahamholt said...

The thing I agree with most here is the statement of "making at actionable", the promise of knowing and understanding your customers better and engaging with them only makes sense if you really are prepared to engage.

If you don't have a platform (software and process) in place to redirect insights to the right people so that they can respond then you lose the value of having the information in the first place.