CRM 2.0 (looks like we were right in the nineties afterall)
Guest Blog by Tim Lennard
Sub-edited by Justin Hall
As an industry we’re easily seduced by the promise of a shiny new technology, application or paradigm based on the heady memory of past riches and potential future fortunes for early innovators.
But is the CRM vision so different now afterall?
It took years of apparently slow movement of the tectonic application plates of Accounting, HR-Payroll, Manufacturing and Distribution days to form the category continent we now call ERP.The continent of CRM enjoyed a more accelerated formation and has matured since the time when SalesForce was a glint in the eye confined to the SME space and the monolithic Siebel confidently strutted its stuff as the enterprise solution.
That vision remains a 360-degree view but it has extended to include a view of a prospective customer. Early CRM was limited to information primarily gathered within the enterprise including billing history, sales engagement, personal interests (golf anyone?), ticketing history etc. so while it was a 360 view of the customer it was still substantially from the perspective of the supplier (often the sales person) and based on internally available data. Occasionally marketing would come along and knock out a DM piece or invite using it as a static database.
We’re now in the era of CRM 2.0. The 360 vision remains valid but we now have a wealth of information to connect the dots and complete the circle.
Connecting the dots, creating the true 360 view
Whilst many organisations have struggled (and continue to struggle) with this Holy Grail of ‘revenue generation’, we’re now better placed than ever to fill in the missing links, bolt on additional data sources and create a true and meaningful picture of a prospect, or customer that we can act on. Marketing automation, data lookups, improved tagging and tracking, predictive analytics.These several data points offer the opportunity for triangulation, a tried and trusted approach to successful navigation.
And lastly the dark-art of predictive analytics, crowd-analysed data that looks at what you might or might not be interested based on the behaviour of the crowd – and specifically people like you. Big data, algorithms, context – that type of thing.
What does this mean for 2016?
Well apart from the whimsical reminiscing and back-slapping of saying ‘we were right afterall back in the nineties’ we’ve essentially arrived back – full-circle – with the 360 view. But we still have a significant challenge.
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