Marketing technology is a vast field that crosses boundaries across multiple parts of an organization. Despite the software focus, it is essential to link marketing activities to specific business strategies and results.
This presentation was given at the CRM Evolution conference in NYC, in August 2015. The presenters were Michael Krigsman and Scott Brinker.
15. .
CRM Failure Rates
Gartner 2001: 50%
Butler Group 2002: 70%
Selling Power, CSO Forum 2002: 69.3%
AMR Research 2005: 18%
AMR Research 2006: 31%
AMR Research 2007: 29%
Forrester Research 2009: 47%
18. Meg Bear
Group Vice President
“Interaction with customers that feels
much more personalized because it’s direct
and targeted. While simultaneously being
much more material to your business.”
Marketer’s nirvana – doesn’t get any better than custs telling you just what they want your brand to provide
Competitve edge
Social selling is a two-way street
Social selling helps us create customers that are happy and love us. The penguins are happy, they got their cupcakes.
Relationship w custs so they fall in love w our brands
Truly dev brand love and loyalty- brand advocate
MARKETERS ARE IN CONTROL OF SOCIAL SELLING
If not even a cust, more open and willing to give feedback and impact image I social channels
Helpful and of service to the customer
Build relationships and loyalty
Social selling not about selling but helping
Social review site, trustradius, g2crowd
Gives user voice to speak about a brand
How marketeers build the relationship
Transparency
Social media, oppty for mkters to have an authentic conversation w custs
TRUST ARISING OUT OF SOCIAL
Identify potential buyers
Intersect w influenvcers
Enaging honestly
USE BOXES – using examples to show the key aspect of social selling
(It’s a management toolDoesn’t help customersSales people hate it)Traditional tools are changing
The truth is, failure is a big problem with CRM projects, and it has been for quite a while. Depending on how you define failure and who’s doing the counting, the most conservative failure rate is around 18% and a broader definition will give a rate of maybe 70%. If we split the difference and call the failure rate 30%-40%, that’s still pretty terrible. Interestingly, these rates of failure seem to match those for traditional IT projects.
When looking at failure statistics, it’s important to bear in mind that studies often measure different things. For example, they may define CRM differently, or measure degree of satisfaction rather than failure itself. The term failure doesn’t always have a precise meaning, so be careful when comparing numbers from year to year. Even so, there’s clearly a great deal of unhappiness with CRM out there.
Gray areas – failure is not black or white.
Source: CRM at the speed of Light, 3rd edition, page 3
http://books.google.com/books?id=vLOKDlGDI2sC&pg=PA3&lpg=PA3&dq=2002+butler+group+crm+failure&source=bl&ots=vWRl3-EfUK&sig=cIjruyLNseXjix3OxFctIzGahjg&hl=en&ei=u7FkSv69OoPSMqHw5PcB&sa=X&oi=book_result&ct=result&resnum=4
http://www.amrresearch.com/Content/View.asp?pmillid=20784
The truth is, failure is a big problem with CRM projects, and it has been for quite a while. Depending on how you define failure and who’s doing the counting, the most conservative failure rate is around 18% and a broader definition will give a rate of maybe 70%. If we split the difference and call the failure rate 30%-40%, that’s still pretty terrible. Interestingly, these rates of failure seem to match those for traditional IT projects.
When looking at failure statistics, it’s important to bear in mind that studies often measure different things. For example, they may define CRM differently, or measure degree of satisfaction rather than failure itself. The term failure doesn’t always have a precise meaning, so be careful when comparing numbers from year to year. Even so, there’s clearly a great deal of unhappiness with CRM out there.
Gray areas – failure is not black or white.
Source: CRM at the speed of Light, 3rd edition, page 3
http://books.google.com/books?id=vLOKDlGDI2sC&pg=PA3&lpg=PA3&dq=2002+butler+group+crm+failure&source=bl&ots=vWRl3-EfUK&sig=cIjruyLNseXjix3OxFctIzGahjg&hl=en&ei=u7FkSv69OoPSMqHw5PcB&sa=X&oi=book_result&ct=result&resnum=4
http://www.amrresearch.com/Content/View.asp?pmillid=20784
Digital Changes Everything(Richness of dataTools for personalizationBetter understand customersMake life easier for them)