According to recent McKinsey report, improving a company's case-management (ability to track sales leads and complex service requests) capabilities through relatively modest changes in processes, technology, and organization can increase cross-channel revenues by 10-20% while reducing customer churn by 5-10%. This is best achieved through well thought out organization wide Customer Relationship Management (CRM) initiative. Another research report from IDC, points out major payoffs of CRM implementations in boosting revenues, improving customer experience, reducing cost of sales, marketing and customer service.
In terms of the market behavior, customers for variety of products and services are already becoming immune to carpet bombing styled telemarketing/SMS campaigns. Once regulators block these communications channels further, acquiring new customers would require newer approaches. Evolved marketing approaches would include analysis of existing customer data in terms of their demographics, purchase behavior, transactional histories and media-graphics. Precision marketing campaigns launched to attract similar profile customers are likely to be well received with increased response rates. Leads generated would see higher conversion rates ultimately leading to long-term and profitable customer relationships.
Aforesaid marketing process effectiveness is difficult to achieve without clearly defined CRM strategy and its user & customer-centric implementation. This need is further accentuated by globalization and a realization of the need to compete with global giants by the Indian corporations.
We have been assisting companies in India in CRM strategy formulation and its implementation through marketing campaign automation, sales force automation, customer service & support automation to deliver on Cross and Up-selling objectives across diverse product & services of the company.
Abdul Aziz
Divas Offshore Software Technologies
abdul@divassoftware.com
