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CRM:
            concepts &
            considerations


            February 2010




 content in the context of the audience
1 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
 www.ideagarden.com.au
Customer loyalty is not about how customers
            demonstrate their loyalty to us, it is about how
            we demonstrate our loyalty to them.

                                                     Sir Ian MacLaurin, Former Chairman, Tesco




2 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
Some misconceptions

                     •       CRM is a marketing database

                     •       CRM is a marketing process

                     •       CRM is an IT issue

                     •       CRM is about loyalty schemes

                     •       CRM can be implemented by any company




3 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
Definitions:

              CRM is the core business strategy that
              integrates internal processes and functions, and external
              networks, to create and deliver value to
              targeted customers at a profit. It is grounded in high-quality
              customer data and enabled by IT (Source: Buttle)




4 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
5 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
…really?




6 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
…from this….
         Then….




7 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
…and now




       …to this….
8 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
Customer management delivers
                                                     on businesses 3 core issues:

                                                     1. Competitive differentiation

                                                     2. Customer intimacy

                                                     3. Return on customer investment




9 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
The purpose of business is create and keep
              a customer ... to do that, you have to do
              those things that will make people want to
              do business with you. All other truths on
              this subject are merely derivative.

                                                      Peter Drucker




10 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
CRM is a                                strategy,
              not a tactic.




11 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
Interestingly, in many cases corporate
              customer management strategy involves
              removing personalised service to deliver a
              more personalised service…..




12 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
Customer engagement / management
       strategies cannot exist in a bubble….




       …they co-exist with other business and
       marketing strategies


13 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
14 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
We now deal with the
      digital consumer –
      and they are totally
      connected which will
      impact management
      strategy…..




15 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
"Technology has given consumers an option to tune businesses out, and tune
              each other in….

              ...on the flip side, technology has given businesses an opportunity to gain
              greater customer insights at a lower cost."
              Forrester research director Chris Charron




16 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
http://www.flickr.com/photos/jm3/98030303



17 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
You have to understand the DNA of
                    your customers




18 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
Participation
                                                      rather than presentation

19 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
From simple beginnings, technology
              advancement has led to ways we can
              connect with customers outside of the
              retail / face to face environment…..




20 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
… behaviours became more observable
              and communities started to form – that
              made selling products and services more
              focused - perhaps....




21 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
…but what do we choose?




22 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
segments began to form…..




23 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
Segmentation:

              What brings people                      together, not
              what sets them apart.




24 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
… channels broadened and things got
              closer and opportunities abound....




25 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
“world” of mouth influences customer
                              management activities




26 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
… strategies focused on the replicable....




27 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
…but is it differentiation?




28 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
… business became too focused on
              acquisition – at any cost....




29 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
30 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
…and one of the most important things missing….




31 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
…was really understanding customers….




32 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
Source: Hugh MacLeod - @gapingvoid



33 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
People want to be connected




34 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
Some fundamental considerations




35 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
What defines a good CRM strategy?

                     •       You need to identify and define what makes your customers successful

                     •       Create a customer based culture within your organization

                     •       Track any and all correspondence with the customer and prospects

                     •       Develop and clearly define strategy for dealing with customer complaints

                     •       Define and adopt measurements that accurately determine customer
                             response to a product or service.




36 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
Foundations of a CRM Strategy

                     •       Determine the business goals that can be supported/delivered by CRM
                             activities.

                             •  Increasing the profit from each customer

                             •  Increasing the acceptance of new products by the customer base

                             •  Increasing customer satisfaction

                             •  Improving response rates to campaigns

                             •  Decreasing costs in campaign development and time to market

                             •  Decrease number of employees and time to develop marketing activities

                             •  Improve the percentage of customer migrating through the value chain




37 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
CRM Strategy considerations

                     •       Rewards and recognition         •    Loyalty programs

                     •       Transactions to relationships   •    Personalisation

                     •       Profit as segmentation          •    Customisation

                     •       CRM as a brand builder          •    Cross- selling

                     •       Achieving customer intimacy     •    Up-selling

                     •       Online customer management      •    Migration downward

                     •       Service levels – “tiering”




38 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
Defining success metrics

                     •       Depending upon the industry and category of the business, there are a range
                             of metrics that should be considered to assist determine the success of CRM
                             activities.

                     •       These can include:

                             •  Customer profit contribution, cost per acquisition, cost to serve

                             •  Product penetration

                             •  Life time value @ customer level

                             •  Value creation

                             •  Referral and recommendations

                             •  Segment profit contribution



39 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
How can a strategic customer management
                                                          focus become part of your DNA?

40 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
…areas to consider….




41 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
What’s your
                                                      Organisations
                                                      definition of CRM?




42 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
Objectives & Goals




43 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
What customer need
                                                      are you meeting?




44 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
What’s the strategy to
                                                      build & leverage
                                                      customer data?




45 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
How will you engage,
                                                      encourage & reward
                                                      participation?




46 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
And finally – take time to look at the
                       program from a customers perspective




47 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
Thanks


             email: phil@ideagarden.com.au
             Twitter: twitter.com/phillipsmith
             LinkedIn: www.linkedin.com/philsprofile




 content in the context of the audience
48 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
 www.ideagarden.com.au

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CRM - Concepts & Considerations 110210

  • 1. CRM: concepts & considerations February 2010 content in the context of the audience 1 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010 www.ideagarden.com.au
  • 2. Customer loyalty is not about how customers demonstrate their loyalty to us, it is about how we demonstrate our loyalty to them. Sir Ian MacLaurin, Former Chairman, Tesco 2 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 3. Some misconceptions •  CRM is a marketing database •  CRM is a marketing process •  CRM is an IT issue •  CRM is about loyalty schemes •  CRM can be implemented by any company 3 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 4. Definitions: CRM is the core business strategy that integrates internal processes and functions, and external networks, to create and deliver value to targeted customers at a profit. It is grounded in high-quality customer data and enabled by IT (Source: Buttle) 4 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 5. 5 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 6. …really? 6 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 7. …from this…. Then…. 7 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 8. …and now …to this…. 8 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 9. Customer management delivers on businesses 3 core issues: 1. Competitive differentiation 2. Customer intimacy 3. Return on customer investment 9 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 10. The purpose of business is create and keep a customer ... to do that, you have to do those things that will make people want to do business with you. All other truths on this subject are merely derivative. Peter Drucker 10 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 11. CRM is a strategy, not a tactic. 11 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 12. Interestingly, in many cases corporate customer management strategy involves removing personalised service to deliver a more personalised service….. 12 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 13. Customer engagement / management strategies cannot exist in a bubble…. …they co-exist with other business and marketing strategies 13 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 14. 14 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 15. We now deal with the digital consumer – and they are totally connected which will impact management strategy….. 15 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 16. "Technology has given consumers an option to tune businesses out, and tune each other in…. ...on the flip side, technology has given businesses an opportunity to gain greater customer insights at a lower cost." Forrester research director Chris Charron 16 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 17. http://www.flickr.com/photos/jm3/98030303 17 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 18. You have to understand the DNA of your customers 18 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 19. Participation rather than presentation 19 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 20. From simple beginnings, technology advancement has led to ways we can connect with customers outside of the retail / face to face environment….. 20 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 21. … behaviours became more observable and communities started to form – that made selling products and services more focused - perhaps.... 21 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 22. …but what do we choose? 22 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 23. segments began to form….. 23 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 24. Segmentation: What brings people together, not what sets them apart. 24 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 25. … channels broadened and things got closer and opportunities abound.... 25 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 26. “world” of mouth influences customer management activities 26 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 27. … strategies focused on the replicable.... 27 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 28. …but is it differentiation? 28 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 29. … business became too focused on acquisition – at any cost.... 29 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 30. 30 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 31. …and one of the most important things missing…. 31 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 32. …was really understanding customers…. 32 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 33. Source: Hugh MacLeod - @gapingvoid 33 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 34. People want to be connected 34 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 35. Some fundamental considerations 35 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 36. What defines a good CRM strategy? •  You need to identify and define what makes your customers successful •  Create a customer based culture within your organization •  Track any and all correspondence with the customer and prospects •  Develop and clearly define strategy for dealing with customer complaints •  Define and adopt measurements that accurately determine customer response to a product or service. 36 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 37. Foundations of a CRM Strategy •  Determine the business goals that can be supported/delivered by CRM activities. •  Increasing the profit from each customer •  Increasing the acceptance of new products by the customer base •  Increasing customer satisfaction •  Improving response rates to campaigns •  Decreasing costs in campaign development and time to market •  Decrease number of employees and time to develop marketing activities •  Improve the percentage of customer migrating through the value chain 37 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 38. CRM Strategy considerations •  Rewards and recognition •  Loyalty programs •  Transactions to relationships •  Personalisation •  Profit as segmentation •  Customisation •  CRM as a brand builder •  Cross- selling •  Achieving customer intimacy •  Up-selling •  Online customer management •  Migration downward •  Service levels – “tiering” 38 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 39. Defining success metrics •  Depending upon the industry and category of the business, there are a range of metrics that should be considered to assist determine the success of CRM activities. •  These can include: •  Customer profit contribution, cost per acquisition, cost to serve •  Product penetration •  Life time value @ customer level •  Value creation •  Referral and recommendations •  Segment profit contribution 39 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 40. How can a strategic customer management focus become part of your DNA? 40 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 41. …areas to consider…. 41 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 42. What’s your Organisations definition of CRM? 42 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 43. Objectives & Goals 43 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 44. What customer need are you meeting? 44 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 45. What’s the strategy to build & leverage customer data? 45 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 46. How will you engage, encourage & reward participation? 46 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 47. And finally – take time to look at the program from a customers perspective 47 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010
  • 48. Thanks email: phil@ideagarden.com.au Twitter: twitter.com/phillipsmith LinkedIn: www.linkedin.com/philsprofile content in the context of the audience 48 // COMMERCIAL IN CONFIDENCE // © IDEAGARDEN 2010 www.ideagarden.com.au