CRM evolves over time, along with the company, its customers and the industry’s technologies. The real question isn’t, “What should CRM do?” We know that answer: it should collect data, analyze it and focus on what consumers want. CRM should also have its hands in sales, marketing and customer service. Instead, the question should be, “How can CRM do it all?”
Is CRM Dying?
The “death” of CRM rumor has been circling for awhile, but in our opinion, it’s exaggerated and not something to worry about quite yet. CRM is a system that interacts with the public – an aspect of business that will likely never die. Instead of worrying about CRM fading into oblivion, a better concern would be, “What will CRM look like in the near future?”
Meeting Company and Customer Needs
When it comes to customer-centric CRM versus company-centric CRM, is there a middle ground? To cater to both parties, a CRM model needs three keys: optimization, personalization and automation.
Optimization improves the customer experience (and the experience of any stakeholders, too). Interactions between the customer and the support agents are delivered faster, better and cheaper. Tools, analytics and technology is used to improve systems that may be too manual or complex. Not only does the business operate more efficiently, but customers benefit from quicker, more focused solutions.
Admittedly, it’s not easy to personalize the customer experience on a massive scale, which is why this is a problem that many big businesses face. It is possible, though, and it simply has to be done. Thanks to advanced CRM technologies, it’s becoming simpler to personalize just about every interaction with a customer. Customization is based on the customer’s history and predictions collected from analysis. Eventually, each customer will be able to have a personalized experience every time they interact with the business.
In the business world, there’s a debate over whether or not the customer actually wants to use automated systems. The simplified answer is that they do (in many cases), which benefits businesses by freeing up time. However, when it comes to problems, they don’t always want automation. Plus, some customers simply like live help instead of automated service. Intelligence about when to use automated systems and when to give the customer other options is key. This is also part of what can be personalized for each customer.