Here we disucss CRM systems as an intelligence tool for your business
CRM (Customer Relationship Management) systems should be considered as both a system as well as an intelligence tool. Providing support to manage an organisations interaction with current and potential stakeholders and improve relationships by more effectively interacting with these stakeholders.
A CRM systems purpose is firstly to provide a single truth of the customer: to aid in identifying customers, facilitate an understanding of their need and manage the process to meet that need. Secondly they should facilitate campaigns and activities to enable and foster stronger relationships with customers through virtual / digital and physical means.
At a basic level CRM is about enabling choice and driving income and reach. Any CRM solution should:
- Capture and manage data about individuals and accounts. Plus, manage relationships between individuals and accounts.
- Manage and support activites across the organisation including pipeline, opportuities and bid management.
- Profile and segment data.
- Manage and support activities in relation to contacts (email, meetings etc) as well as pipeline, opportunities and bid management.
- Manage marketing campaigns.
- Integrate with all key systems - back office, web and 3rd party - to provide a streamline and automated experience.
- Enforce and ensure compliance with data regulations and other best practices.
- Provide business intelligence and reporting through 3rd party tools, dashboards.
What benefits should you expect from the implementation of a CRM system?
A CRM system should enable a global and local reach through physical and virtual channels, providing an enhanced user experience through digital channels and personalised communications
The CRM system should join together, automate and streamline end-to-end processes associated with your organisations stakeholders. Ensuring information is captured or entered only once and is accessible across the organisation.
It should have a direct impact on your revenue and costs through better targeted marketing activities (online and traditional channels) and through a greater understanding of target sectors and customers within them whilst providing a fully compliant and legal data processing and management activity associated with your stakeholder’s data.
The CRM system must deliver on accurate and real-time business intelligence and management information to support effective decision making. Any actions being supported by real time business intelligence.
Through the delivery of an integrated CRM solution, combined with a digital first strategy, it is possible to transform business practice.
Delivering a CRM has significant cultural impacts and shifts how data is perceived within an organisation.
It is also essential to success that a CRM is considered in context of wider organisational technology change and part of a longer and phased organisational transformation.
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