The Myths & Realities of Customer Relationship Management CRM
The Myths & Realities of Customer Relationship Management CRM
By M. Danny Estrada, MBA
CRM Practice Manager, Net@Work
As we embark on a new year many of us are looking back at the past twelve months and asking ourselves what we could do differently. Most of us read publications and newsletters looking for suggestions when the answers have been in front of us all along. Customer Relationship Management is a science to some and an art form to others. Most importantly though, CRM is strategic and can provide you with the information you need to make decisions that are long overdue. The goal of our discussion here is to differentiate between the myths and realities regarding CRM and to remove some of the mystery around these types of solutions and their benefit to your organization.
Myths
�� It is more expensive to acquire a customer than keep ones that I already have…the fact is that there are customers you lose money on every year and they should be referred to your competitors.
�� Quotas are the only way to measure true sales productivity…sales productivity should be measured by margins, profitability, customer referrals and customer lifetime value.
�� Only big companies can afford to do CRM right…you are competing in a global marketplace and service is the differentiator for companies of any size.
�� Most CRM implementations are seen as failed projects…when combined with other projects at the same time that require the same resources.
�� CRM will turn my people into data entry clerks…not anymore; the new paradigm is to provide people with the right information at the right time to increase productivity.
Realities
�� Most companies do not know their customer profitability…you won’t know which customers to “fire” and which ones to focus on if you don’t know what they are worth.
�� Sales production is a measurement of the market and your ability to compete…people too often look at sales numbers without considering training, tools and the reason for losing business to competitors.
�� CRM in some form is prevalent in most established SMB companies…companies eventually grow to a size that require collaboration and synergy to continue exponential growth.
�� When CRM project goals are set before implementation projects usually succeed…take baby steps and find two or three things that you cannot do currently that will impact your bottom line now.
�� CRM is about making people more efficient…no one wakes up to do more revenue
ABOUT THE AUTHOR:
Currently the CRM Practice Director at Net@Work (www.netatwork.com) Danny Estrada has been working in the field of Customer Relationship Management for the past 12 years. Specializing in business process and corporate culture, Danny uses his business and technology expertise to help companies sell more products and increase customer satisfaction. Danny also holds and Executive MBA from the W P Carey School of Business at Arizona State University. Danny can be reached at destrada@netatwork.com.
The Myths Realities of Customer Relationship Management CRM - To learn more about this author, visit Marc Mandelbaum's Website.
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The Myths & Realities of Customer Relationship Management
By M. Danny Estrada, MBA
CRM Practice Manager, Net@Work
As we embark on a new year many of us are looking back at the past twelve months and asking ourselves what we could do differently. Most of us read publications and newsletters looking for suggestions when the answers have been in front of us all along. Customer Relationship Management is a science to some and an art form to others. Most importantly though, CRM is strategic and can provide you with the information you need to make decisions that are long overdue. The goal of our discussion here is to differentiate between the myths and realities regarding CRM and to remove some of the mystery around these types of solutions and their benefit to your organization.
Myths
�� It is more expensive to acquire a customer than keep ones that I already have…the fact is that there are customers you lose money on every year and they should be referred to your competitors.
�� Quotas are the only way to measure true sales productivity…sales productivity should be measured by margins, profitability, customer referrals and customer lifetime value.
�� Only big companies can afford to do CRM right…you are competing in a global marketplace and service is the differentiator for companies of any size.
�� Most CRM implementations are seen as failed projects…when combined with other projects at the same time that require the same resources.
�� CRM will turn my people into data entry clerks…not anymore; the new paradigm is to provide people with the right information at the right time to increase productivity.
Realities
�� Most companies do not know their customer profitability…you won’t know which customers to “fire” and which ones to focus on if you don’t know what they are worth.
�� Sales production is a measurement of the market and your ability to compete…people too often look at sales numbers without considering training, tools and the reason for losing business to competitors.
�� CRM in some form is prevalent in most established SMB companies…companies eventually grow to a size that require collaboration and synergy to continue exponential growth.
�� When CRM project goals are set before implementation projects usually succeed…take baby steps and find two or three things that you cannot do currently that will impact your bottom line now.
�� CRM is about making people more efficient…no one wakes up to do more revenue
ABOUT THE AUTHOR:
Currently the CRM Practice Director at Net@Work (www.netatwork.com) Danny Estrada has been working in the field of Customer Relationship Management for the past 12 years. Specializing in business process and corporate culture, Danny uses his business and technology expertise to help companies sell more products and increase customer satisfaction. Danny also holds and Executive MBA from the W P Carey School of Business at Arizona State University. Danny can be reached at destrada@netatwork.com.
The Myths Realities of Customer Relationship Management CRM - To learn more about this author, visit Marc Mandelbaum's Website.
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
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Stephanie RobeyStephanie Robey is President and CoFounder of Pivot Positive, LLC - an Internet marketing business focused on helping people start work at home ventures. Previously, she was employed at The Search Agency with over 20 years experience in graphic design and 10 years experience in online marketing. She was responsible for launching the Conversion Path Optimization (CPO) unit where she and her team have conducted hundreds of optimization tests for online companies across multiple verticals. She is a successful entrepreneur having started and sold 2 companies and remains on the board of directors of the third, PhotoSpin.com Stephanie began her career in the direct marketing realm creating and producing direct mail for many of the major cable television companies and directly attributes her understanding of Internet marketing to those early offline experiences. Stephanie is a graduate of San Diego State University with a BFA in Graphic Arts and also holds an Executive MBA from the Graziadio School of Business and Management at Pepperdine University. Read Steph's Blog Meet Steph and Dave Sign up for our Free 7-Day BootCamp: Self Employed & Rich - Visit Stephanie Robey's Website |
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