What is a CRM strategy
A CRM strategy is a series of processes and projects focused on one goal: transforming every customer contact and conversation into a corporate asset. It’s a set of incentives and standards about how we and our channel partners interact with prospects and customers, and it requires sales and marketing and customer support and even finance to work together (perish the thought!).
If all you’re hearing is “I want to measure dials per hour,” “we need to accelerate the sales cycle,” or “we need to reduce our call queue depth,” you know that people are thinking tactically and probably aren’t up for a strategic effort.
Benefits and goals of a CRM strategy
The ultimate payoffs of a successful CRM strategy are pretty powerful: better marketing efficiency, more effective messaging, more profitable sales cycles, better forecasting, higher customer loyalty, better executive visibility and decision making, and even reduction in email volume. In nearly any business, the cost of sales and marketing will dwarf all other cost structures—so even incremental improvements there have a big impact. A CRM strategy is all about decreasing the cost of customer acquisition and increasing customer lifetime value: fancy-talk for profitability.
Read More from This Article: How to develop an effective CRM strategy (and 7 signs you’re not ready)