**Original Question “Whats the Best CRM Tool?Which one should we be using? On-premise orCloud based?”*The Correct Question - “All CRM tools arevirtually blunders. Lets rethink the entireconcept Customer Relationship Managementand its relation with our Business from firstprinciples. Shall we?”
** Customer Relationship Management is a strategy which is customized by an organization to manage andadministrate its customers and vendors in an efficient manner for achieving excellence in business. It isprimarily entangled with following features:* Customers Needs- An organization can never assume what actually a customer needs. Hence it isextremely important to interview a customer about all the likes and dislikes so that the actual needscan be ascertained and prioritized. Without modulating the actual needs it is arduous to serve thecustomer effectively and maintain a long-term deal.* Customers Response- Customer response is the reaction by the organization to the queries andactivities of the customer. Dealing with these queries intelligently is very important as smallmisunderstandings could convey unalike perceptions. Success totally depends on the understanding andinterpreting these queries and then working out to provide the best solution. During this situation if thesupplier wins to satisfy the customer by properly answering to his queries, he succeeds in explicating aprofessional and emotional relationship with him.* Customer Satisfaction- Customer satisfaction is the measure of how the needs and responses arecollaborated and delivered to excel customer expectation. In today’s competitive businessmarketplace, customer satisfaction is an important performance exponent and basic differentiator ofbusiness strategies. Hence, the more is customer satisfaction; more is the business and the bondingwith customer.* Customer Loyalty- Customer loyalty is the tendency of the customer to remain in business with aparticular supplier and buy the products regularly. This is usually seen when a customer is very muchsatisfied by the supplier and re-visits the organization for business deals, or when he is tended towardsre-buying a particular product or brand over times by that supplier. To continue the customer loyaltythe most important aspect an organization should focus on is customer satisfaction. Hence, customerloyalty is an influencing aspect of CRM and is always crucial for business success.
** Customer Retention- Customer retention is a strategic process to keep or retain the existing customersand not letting them to diverge or defect to other suppliers or organization for business. Usually a loyalcustomer is tended towards sticking to a particular brand or product as far as his basic needs continueto be properly fulfilled. He does not opt for taking a risk in going for a new product. More is thepossibility to retain customers the more is the probability of net growth of business.* Customer Complaints- Always there exists a challenge for suppliers to deal with complaints raised bycustomers. Normally raising a complaint indicates the act of dissatisfaction of the customer. There canbe several reasons for a customer to launch a complaint. A genuine reason can also exist due to whichthe customer is dissatisfied but sometimes complaints are launched due to some sort ofmisunderstanding in analyzing and interpreting the conditions of the deal provided by the supplierregarding any product or service. Handling these complaints to ultimate satisfaction of the customer issubstantial for any organization and hence it is essential for them to have predefined set of process inCRM to deal with these complaints and efficiently resolve it in no time.* Customer Service- In an organization Customer Service is the process of delivering information andservices regarding all the products and brands. Customer satisfaction depends on quality of serviceprovided to him by the supplier. The organization has not only to elaborate and clarify the details ofthe services to be provided to the customer but also to abide with the conditions as well. If the qualityand trend of service go beyond customer’s expectation, the organization is supposed to have a goodbusiness with customers.* Let it be a newly brought up enterprise or a well established organization the above aspects prove to beof prime importance in dealing with a genuine customer through a well organized CRM system.*** managementstudyguide.com
**Their first and primary focus is on Sales Deals, andPipeline. Its like saying “Show me the moneyhoney!. I want to know where, when and how muchmoney I can expect to make.”*And the tool is always in focus. Get a tool whichdoes everything, integrated, lowest cost.*Customer Relationships is almost never the Primaryfocus*The Legacy approach to CRM can never be morewrong. I will show you how and why.*And lets see how to change that…
**B2B*B2C – Customers are grouped into Segments orMicro Markets*We will be talking primarily about the firstscenario which is B2B and we will try to retrofitour approach into the second scenario which isB2C.*I know its not ideal, but trust me its waybetter than anything anyone does in theIndustry.
** What do we actually need to be doing1. We need to know details about the Customer (People)2. We need to know the structure and details of their Organizations3. We need to track the Customer (The Person) throughout his lifetime and Career across Organizations. And the Customer(Organization) across Groups, M&A etc.4. We need to assign a Primary and Secondary person in our company who Leads the Relationship. Our Relationship Leads* Everything else apart from above is done off-the-system. Relationships are a people and collaboration intensive exercise and not about Tools andAutomatons.* We use a Tool for only the first 4 points in this slide. And absolutely nothing else. Except probably for complaints in a B2C scenario. And the tooljust facilitates information sharing about Relationships* RL needs to know interests, needs, wants, desires of his Customers. This is different from Account Managers who are connected to accounts. RL’sare connected to Relationships (The People) multiple people from multiple Organizations.* The RL is the first point of contact within your company when you want to reach out, grow the relationships, communicate, propose etc. He ispresent in all such discussions preferably if possible or atleast knows about everything that’s related to his Relations.* The Focus is always on the Relationship, and not on the Account or Wallet Share* The focus is on relationships within our company, with the customer, and the customers within his ecosystem* This is how the Top Consulting companies keep relationships. Trust me they are not using some silly CRM tool. (No Offences!)* This is how the best companies charge a premium over everybody else in the industry. Think 10x+ the rates most charge and the profits you make.(Ref: Value based Pricing… etc.)* This works great with Inbound Marketing concepts also.* Oh but you are primarily interested in Deal Flow and Deal Pipeline etc. etc. Obviously things that matter the most to you Right??? ROFL!!!* Sorry to say the business works on Relationships and The Success of the Customer!!!* The Account or an Organization is a virtual entity. That should never be the focus. Real people should be the focus. That’s how deals are made andbusiness is grown successfully.