« Insurance Companies can outsource processes and differentiate them too | Main | Pandora's box »

Don't let your customers take their business elsewhere...

I saw this article on destinationCRM - I'm Taking My Business Elsewhere - and a couple of the comments made in it really resonated with me:

Forty-seven percent of the 1,000 U.S. consumers Accenture surveyed have stopped doing business with a company within the past year, despite continued investment in CRM technology by U.S. industries.

So clearly investments in traditional CRM technologies are not getting it done. Now if, like me, you believe that one definition of insanity is "doing the same thing, the same way and expecting a different result" then clearly more CRM technology investments are not going to work.

To rectify these problems, Wollan says the next wave of CRM investments will be driven not by the "need to have," such as in the late 1990s, or by the "need to cut costs," as in 2000, but by a need to improve the customer experience by adjusting to their interactions and demands. "Companies will focus on translating their existing service technology investments into satisfying experiences that keep customers coming back."

It seems to me that companies trying to solve these problems need to think about new approaches, new technology to address these issues. I won't repeat myself as I haveposted before on little known ways to improve customer experience on my other blog and have a section on CRM/customer service on this one.

First time on the EDM blog?
Subscribe to the EDM blog feed or check out some other recent posts:


TrackBack URL for this entry:

Listed below are links to weblogs that reference Don't let your customers take their business elsewhere...:


Colin Beasty

Many businesses and organizations require two or three times before they get CRM right. It also seems many CIOs, IT managers, etc., approach CRM with a "tunnel-vision" approach. They focus too heavily on cutting costs and using accepted strategies without ever thinking outside the box to accomplish what CRM was originally designed for: making the customer happier.

The comments to this entry are closed.

Search Site



  • enter your email

Upcoming Events

  • FICO Tools & Analytics User Forum 2012
    BERLIN: September 11-12, 2012 LONDON: September 18-19, 2012 Gain new insights for improving business performance through advanced analytics and decision management tools.