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CRM Value Proposition Guidelines
Companies that successfully implement their CRM initiative realize and benefit from one or more of the following six CRM value proposition components.
1. Enhanced productivity:
10-20% annual increase in the productivity of your customer facing personnel, resulting from having needed customer information readily available. With proper discipline and incentives, this productivity leads to a 5-10% increase in annual sales.
2. Lower costs:
5-10% decrease in your sales, marketing and customer service general and administrative costs. This benefit results from knowing your customers and servicing your customers better and more efficiently.
3. Superior employee morale:
10% decrease in your turnover rate resulting from more satisfied customer facing employees, along with a better pool of candidates applying for your customer facing openings.
4. Better customer knowledge:
Complete, comprehensive customer profile as defined by your customer facing personnel and customers within 18 months of the launch of your CRM initiative.
5. Higher customer satisfaction:
10% increase per annum between 100% customer satisfaction and your current satisfaction rating. This results from customers who receive desired information promptly and completely.
6. Improved customer loyalty/retention:
A 10% annual increase in customer wallet share, and a 10% annual improvement in customer retention rates. These benefits result because customers like to do business with a company that really cares about their relationship.
*reprinted from CRM Automation by Barton J. Goldenberg
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