CRM Strategy

Developing a sound CRM strategy before investing in software solutions is the best way to get the desired end results. This is the mantra that companies need to adopt more often to IT projects, especially CRM (Customer Relationship Management) initiatives.  Many people think that CRM is a newer technology in the last twenty years, but realistically, CRM has been around forever.  You don’t need technology to have a CRM initiative or even an approach in place, but software will help you execute better, faster and with greater accuracy and efficiency.  Visionary executives are the ones who drive the process and make the audacious goal something to rally the organization behind. 

Before you can come up with the right CRM solution, you need to ask the right questions first, so you can make the proper CRM comparisons.  Great leaders need to ask the right questions, even if they aren’t sure where and who to ask.  Challenges face leaders’ everyday and asking the right questions helps you get to the root of the problems.  Once the problems are identified, often by exclusion of issues, not by inclusion, experienced leaders can resolve and construct a workable solution.  The vision starts at the top.  Without buy-in from the balance of key management, the strategy will fail at a tactical level.  Getting the organization on the same page for the vision and end objectives are keys to success and will manufacture the corporate fabric that is needed to manage and execute effectively. 

Building a business is not easy.  Dealing with a combustible combination of factors from your customers, personnel, company financial condition, local, regional, national and world economies, rising prices on raw materials and cut-throat competition can only deter the business laggards and energize corporate pioneers.  CRM is the lifeblood of your organization and without a valid and executable strategy your organization will be tactically staggered trying to execute short and medium-term strategies.  CRM strategy is the big picture, but a well thought out tactics can have manageable and realistic impacts in the short and medium-term.  People have the best of intentions when they formulate a commitment to change, to improve, to become more disciplined, to break a paradigm.  The truth is, it is very hard to do.  If it was easy, most business would not have difficulties developing a workable and executable business process along with the proper automation to ease and simplify the work load.  Everyone wants progress, nobody wants change.  This is where strategy must start and the executive determination must take over.  Stagnant and non-existent growth will permeate a negative and sometimes contented attitude throughout the organization that you might never be able to recover from.  Investing in employees growth (for those that want it) and always setting the bar higher is what encourages people to excel and succeed.

Business Metrics:

Below are some sample business metrics.  

Monitor these metrics month after month and compare to the previous year by month and by quarter.  These metrics will help you manage your business and determine the financial condition and velocity of your company’s growth.  Executives need to be measuring and managing business conditions regularly in order to stay the course for the business plan or make necessary adjustments to steer the organization in the right direction.  There will be metrics within your business that apply to your industry.  Share those metrics with your executive team to get buy-in and level of importance.  Once buy-in and final metrics are determined, make sure they are visible to the entire executive team and provide frequent updates.  Review at a high-level during monthly meetings and at a granular level at quarterly meetings.

We have provided an example of how you can prioritize and strategize issues within your organization.  This will help you create a roadmap and focus on the areas of your business that will have a positive business impact on your organization, and your customer relationships.