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Winning & Retaining Clients, Part II Targeting Technologies and Tapping Your Market Dawn Marie Yankeelov President, ASPectx D Corporate CRM Spending $1 Trillion (U.S.) Consumer The CRM Industry Data Management Fulfillment TV Radio Print 100,000 Independent CRM Vendors ($700 Billion) Advertising Direct Marketing Call Centers: Inbound Outbound I. Growth in CRM “Tech” Tying All Avenues Together for Maximum Profitability Tracking All Interactions for Upsell Managing Projects and Personnel Speed to React Reporting Enhanced and Often Real Time Accountability Throughout Organization What is a CRM tech tool? CRM ties together all of a companys front office customer touchpoints: sales (contact management, product configuration), marketing (campaign management, telemarketing), and customer service (call center, field service) Via multiple, interconnected delivery channels (telephony, email, Web, and direct interaction) YOU ARE TRYING TO TRACK ENTIRE HISTORY OF RELATIONSHIP WITH YOUR CUSTOMER OR CLIENT Defining CRM Tech Options “Small and mid-sized businesses would never have been candidates for enterprise applications in the past. Nobody seems to know what is going on and the customer often has more knowledge than the company. That is the Achilles heel of businesses today.”Steve Papermaster, founder of A Trends to Watch: -CRM for All Levels -Small Business Use -Web-based Application Proliferation -ASP Models Appealing from Small Businesses to Personal Sites Buyer Dilemma Lack of Industry Knowledge 100,000+ Vendors Product Complexity Rapid Change in CRM Technology Limited Project Management Resources Seller Dilemma Lack of Efficient Marketing Channels Large Capital Investment in Technology No Central Marketplace Intense Competition Industry Problem Inefficient Marketplace = High Search and Maintenance Costs 24 July 2015 Selecting CRM Tools 1. Identify and set clear business requirements 2. Institute a common planning process 3. Obtain Senior-Management Buy-In and Understanding 4. Pinpoint functional differences in culture and success measures and bridge the gaps 5. CRM is a Business Philosophy Tribulations: The Barriers Changes in business processes slow IT delivery capability Unwillingness to change sales processes and incentives can stall acceptance of new systems The rate of technology change can be too quick for people to absorb it and adapt CRM Shifts Cause: Relationship Management Becoming Critical Effect: CRM to satisfy any appetite Cause: No Time to Learn It or Teach It Effect: Simplification in Web-based models Cause: Demand for Analysis & Tracking Continues to Rise Effect: Point n Click Stats on Demand Cause: Spending Getting Scrutiny of CEOs Effect: ASP Models Stand a Chance to Deliver CRM Eye-Openers Spending on ASP services will grow to $7.7 billion in four years, from $30 million in 2000. However, this is not new monies, just a reallocation of funds. Software vendors are expected to see revenues diminish. -IDC Corporation Forecast, ASPN, 8/17/2000 CRM, education and trainingless than a third now using ASP model -Zona Enterprise Usage Study, 2000 Metrics for Purchases Should Remain the Same Research Includes: 1. A Look at Problem Found/Solution Provided 2. Depth of Companys ProductsVaporware vs. Delivered 3. Technology Complexity in Use and Implementation 4. Financial Soundness of Product to Be PurchasedWill it Really Be Around in Two Years? 5. Product Specialization by Industry Tap the Potential of eCRMWeb-based all the Way 1. Create Interactionsintegrate all sales and marketing channels with back office financials 2. Operate at Internet Speedreal time data gathering, analysis and response is approaching as the standard 3. Analyze Dataturn massive amounts of data into insight to retain customers 4. Integrate customer information access across systems-Montgomery Research, Inc. 2000 Total Cost of Ownership Server Hardware & Software Server w/disks, RAID Fault Tolerance, Memory Backup software Basic Server Installation & Integration Configuration of Server in Hours Service Agreement on Hardware Service Agreement on Network System Total Cost of Ownership Server Installation & Maintenance Upgrades in a three-year period Man hours for upgrades Migration of platform issues Upgrades to Network Operating System Server Troubleshooting Emergency ServiceActual Hours Consultant Assistance (one day every fourth week) Assistance w/ maintenance Total Cost of Ownership End User Install & Maintenance Upgrading old PCs User Administration Hidden downtime & Support Costs Courses and Internal Training Software Licensing Security & Telecommunications Employee Infrastructure CRM Mainstream Migration Contact Mgmt. -most offline 80s 90s 2000 2002 Personalizationusing web Customer Relationship Mgmt.expensive, non-integrated software Database Tracking of Entries Call Centers (most not Internet-friendly) Sales Automation Marketing Automation Web-based Conferencing/Telephony Analytics Relationship Mgmt. In ASP format Synchronous Customer Management (multi-channel managed via web or wireless device) CRM Marketers Break with Tradition Major Players Reinventing Product Line to Serve Lowend Web-based Solutions for all Industries New Technology Platforms Breed New CRM methodsI.e. Release of Windows 2000 platform Free Is the “Winner to Take All” Plays Geography is Meaningful in Seizing Market Share and VC DollarsLook in Your Backyard for Answers ERPs Migrating to ASPs That Can Go Live Within Days Integration Outside The Product Class Example: Siebel Mid-Edition (first shipped July 19, 2000) and Great Plains Partner Status Costs: $2500 to $3500/user, Service: Implementation, 3x Features Include: Customer Applications including ecommerce functions, 24/7 self-service, and online marketing info; Employee Applications including features for front-office employees; and Partner Applications for partner organizations (i.e. sales channels) Free Evaluation Guides available on ; Moderate-Cost Entries Example: W Works with Microsoft Outlook Account Opportunity Mgmt. Enterprise Forecasting Activity Tracking Enterprise Lead Mgmt. Enterprise Data Synchronization & Remote Access Cost: Licensing from $750/seat to $1500/seat (10); Service: Implementation, training 1.5x ASP $500 setup; $50 a month per user New Low-Cost Web Entries Product: A Low-cost Web-based CRM with messaging functions. Product The company is aimed at small businesses Product Offerings Personal Pagespassword-protected websites Shared ContactsCustomer Interaction Database that allows users one secure, central place to store and access customer information and activity Monthly Fee Activities and NotesPermanent searchability on customer activity Group CalendarReview and update daily, weekly or monthly on the web schedules E-business DashboardFree personal homepage. Keeps tabs on customers, includes personal organizer and headlines Tasks and EmailTracks Tasks and Personalized Email Acct. New Low Cost Web-Entries New Low-Cost Web Entries The Hotcakes of the Category S More than 1,200 paying companies in its two-year history Users are provided with information on their accounts from Hoovers, an online business information provider Sales opportunities can be forecast, based on assigned probability of closing and all reports can be exported to Excel Five users free for one year, with each additional user at $50 U Free for 1st three months to companies with fewer than 100 users for companies of 100 to 1,000 users; $7500 implementation fee within 15 days if you provide a dedicated support person to assist for data cleanup Includes unique mapping feature and simple workflow routing Bulls eye graphics The CRM Player Bringing Home the Bacon Sales.O and its new sister, Support.O (call tracking and customer support) Introduced in August 2000now has more than 20,000 companies signed up Targets companies with 50 to 500 salespeople Oracle supports import and export of information, including comma-separated value files (CSV) Offers opportunity tracking, customer and prospect management, contact management, calendar and activity management and a forecasting module as one of the fee-based upgrades Basic service is free and comes to those purchasing an Oracle Applications license Verticals: SoftW II. Wireless and working Existing Software to Handheld Devices and Smart Phones Options Abound “Out of the Box” solutions from Palm and Pocket PC integration Pricepoints now dropping and security issues being resolved Focus on specialized applications for inventory control, fleet management, notifications of top tier customer service issues, real-time public relations, sales force automation CRM “Hot Spots” Source: The Yankee Group, Wireless CRM, 2000. The U.S. mobile and remote-worker population will grow 41% from 39 million in 2000 to 55 million in 2004. Field sales professionals comprise the largest percentage of this remote-worker population. CRM Ramping Up Estimate of Corporate Applications Designed for PCs and Internet Devices. Source: Morgan Stanley Dean Witter Equity Research. IDC, and Yankee Group, 2000 studies. “Fast ramp” window CRM Plays CRM applications for wireless devices in: Customer service and support Help desk Sales force automation Field services Marketing automation Palms initiative in this area pivots on: Anywhere access to customer information Capture customer information and upload to enterprise system Increase the touch factor with customers Palm: Success Stories Source: Palm, December 2000 Palm: Present CRM Partners Source: Palm, December 2000 Palm: CRM Interact Commerce Corporation Saleslogix Wireless access to CRM applications from Siebel, PeopleSoft, and other vendors Front Range Solutions Goldmine Everywhere Real-time, wireless access to calendars and contacts Peregrine Systems Customer ticket system for service and support Peregrine will port its infrastructure management tools to Palm Source: Palm, December 2000 III. Public Relations Tactics Low-Tech Still Works, High Tech Available Principles of Manage Contacts, Send, and Followthrough Tied to Trade Shows, Events, Company Milestones Build Expert Status Establish Credibility for New Products and Services Lead in the Industry by Striking First to the Multitudes Target Messaging via Trades Integrating Your Vision Establish Media Contacts via Third Party, Internal Contact, and/or Senior Mgmt. Availability Capitalize on Speaking Engagements, New Customers, Case Studies, How-To Stories, New Hires, Trade Show Presence Media Relations Targets Websites in Your Trade Business Journals National Business Publications Local Media outletsincluding TV, radio news who now have websites Highly targeted Trade publications Product or Service publications ROI Considerations One article can reach 60,000 depending on circulation of publication or audience of other media Monthly positioning keeps company on the mind of reporters and ultimately customers in coverage Advertising does not buy credibility Traditional Methods Consultants plus Newswires and Clipping Services Examples: PR Newswire Now offers clickthrough tracking, archiving of logos and articles, multimedia feeds Business Wire V PR Newswire Ordering Do It Yourself Tactics Events Marketing Tools Yahoo C Acteva: The Marketplace for Activities Search Engines Entry III. eMarketing Web-based interactions maximizing email, tracking, and followthrough Two-way communication Real-time Knowhow Time to React to Marketplace Decisions Constant Presence to Clientele 7/24/2015 Hunt and Kill the Targets Five market identification strategies: Geographic. Physical location of your publics Demographic. Attributes such as age and sex Psychographic. Lifestyle dimensions such as hobbies and interests Usage Rate. A small percentage of the population account for a large percentage of sales Benefits. Certain users want to achieve particular benefits. Ex. Airline tickets Strategic Internet Marketing, Tom Vassos 7/24/2015 Marketing in A Box Enterprise Marketing Automation Defined Software that automates marketing campaign tasks, stores the intelligence in a database that can be shared across the enterprise, and follows up with potential customers by marketing only relevant services or products Customers choose how they want to be contacted: direct mail, telephone, fax, email or URL 7/24/2015 Marketing in a Box Web Marketing Campaign Path 1. Sends email to potential customers driving them to contest on website 2. Users may answer questions via forms, which generates customer lead 7/24/2015 Marketing in a Box Web Marketing Campaign Path 3. Software then evaluates the profile an
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