Sadly, many CRM & CEM initiatives have failed to achieve the "results" or the ROI that the sponsoring executives were told to expect. More alarming to me, however, is the fact that Customer Relationship and Customer Experience Management initiatives are believed to be technology plays: technology or package or cloud-computing solutions.
Monday, March 1, 2010
Effective CRM initiatives have yielded a gold-mine of profits, customer information, and competitive advantage. Yet, even a decade and 1/2 after CRM entered our business vocabulary, fewer companies succeed than fail. The artistry, the magic in successful CRM and Customer Experience Management comes from your company's ability to transform the data into relevant and valuable information, and then to again turn that information into actionable knowledge - again relevant, timely, and of value at each point across the customer corridor - a value that changes with each transaction or touch.