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The Great CRM Shift of 2020
November 19, 2020
It is often said that only a poor workman blames his tools and only an inferior vendor blames the customer for their troubles with a product. But too many user organizations just don't seem to be adopting CRM to the degree that it takes to be successful -- even after more than two decades of trying.
Why Digital Transformation Is Essential to Improve Business Outcomes
November 11, 2020
High-performing businesses reach peak commercial performance by reducing friction in customer interactions in the face of a market with increasing complexity. If you look at who's winning, it's the companies that not only embraced digital transformation early, but also made it a core building block of their foundation moving forward. So, what does it take to win today?
Many Shoppers Now Want Zero In-Store Human Interaction
November 10, 2020
The rise in consumer adoption of e-commerce in the wake of the pandemic is pushing the rebirth of brick-and-mortar stores as potential bastions of interactionless shopping that resembles an e-commerce experience. Amenities for redesigned in-store floor space include no-contact kiosks that offer circulars and coupons. Robot greeters and sales assistants to help maintain social distancing are also in some plans.
Chat Commerce Driving Higher Revenue, Better CX
November 6, 2020
More consumers are shopping via phones and other mobile devices, and companies that use chat with commerce are reaping rewards while improving the customer experience. New commerce research reveals that at least two-thirds of firms using chat apps such as WhatsApp and WeChat see greater commerce gains than competitors that do not.
I Might Differ
October 15, 2020
Last week my good friends Brent Leary and Paul Greenberg opened up their online show, CRM Playaz, to an executive roundtable discussion with some of the movers and shakers in our CRM world. Unfailingly, each speaker espoused the centrality of the customer and visibility through 360 degrees of customer interaction. It's hard to disagree with that -- though I will.
Why Hasn't CRM Taken Over the World?
October 8, 2020
Many businesses have bought into CRM, of course. It isn't an 80-billion-dollar industry for nothing. Still, there's a disconnect between the wonderful features and functions of new technologies and the realities of how companies use them -- or not. Only about a quarter of organizations use CRM appropriately. Others use it for simple record keeping, or barely use it at all.
Supply and Demand: A Moving Target for E-Tail Marketers
October 1, 2020
Marketers must adapt to changing circumstances. They also have to play better hunches when handling supply and demand issues. In this constantly changing marketplace, supply and demand are moving targets. So why are advertisers not fully capitalizing on the new situation? Many marketers have not yet figured out how to do so.
CRM's COVID Opportunity
September 30, 2020
Many of the workarounds that have kept old systems running have reached the end of the line. If people are already working in their cars, the gym or the bathroom, it's hard to see how things get any better without replacing systems. That requires a different approach for the customer. The old adage of "if it ain't broke, don't fix it," doesn't really apply any more.
What's Old Is New Again
September 24, 2020
A raft of new technologies that impact CRM are about to be announced, but even without the latest announcements due now through October, there's a realization that we're coming full circle. Oracle is making hardware sexy again, using it to drive new business models and to push its CX version of CRM; and Salesforce is tackling a kind of mass customization of its CRM product line.
Tech's Role in the Future of Restaurants
September 9, 2020
While changes in the restaurant industry have been in response to what is hoped to be a temporary crisis, it's likely that dining establishments will never again operate exactly as they did before coronavirus. Along with altering their physical designs to accommodate the demands of the pandemic, eateries must also turn to new models for order taking, making deliveries, and payment processing.
Consumers Buying In to Digital Wallets
September 4, 2020
The recent rise in digital wallet adoption shows a marked contrast with slow growth in digital wallet use in the U.S. prior to the pandemic. As more consumers become comfortable using digital wallets -- and possibly begin to prefer them -- it's not a stretch to conclude that many will embrace these shopping habits permanently, causing acceptance rates to continue to grow.
FAA Clears Amazon for Drone Delivery
September 1, 2020
Amazon has cleared a key government hurdle in its flight path to deliver packages by airborne drones. The U.S. Federal Aviation Administration has granted the online retail giant a Part 135 certificate, which allows Amazon Prime Air to operate as an air carrier. The move lets Amazon make commercial deliveries under a trial program that uses drone technology announced last year.
Holiday Shopping Forecast: Less Spending, More Empathy
August 24, 2020
The 2020 holiday shopping forecast and consumer spending patterns well into next year will be marked by a pullback in spending, an increase in consumer expectations for brand behavior, and a focus on supporting small businesses. Marketers are advised to focus on brand values and trustworthiness to combat the continuing challenges retailers face in courting consumers across all generations.
Retailers to Consumers: Let's Get 'Phygital'
August 20, 2020
The pandemic has exposed one fundamental, seemingly contradictory reality: people like to shop online, but they also crave in-person experiences. This era has also made clear that there's an answer to this conundrum: to provide shopping experiences that combine both physical and digital elements. Also known as "phygital" experiences, these strive to give customers the best of both the online and in-person worlds.
Consumers Expect More From Brands to Earn Loyalty
August 18, 2020
Customer loyalty has increased drastically in the last five years, though it has not reached boom status for many brands. Winning repeat business is increasingly difficult, especially with the economic uncertainty brought on by COVID-19. New studies reveal how solidly personalization in marketing drives brand loyalty, however consumers still feel that brands fail to do enough to recognize them as individuals.
Salesforce Sustainability Cloud
August 7, 2020
Salesforce continues to offer new products in an expanding demonstration of its platform's relevance to business and society at large. Sustainability Cloud is best understood as a carbon accounting solution that enables organizations to more quickly audit their carbon emissions and take action in that area. This covers a lot.
B2C Response Rates at SMBs Crushing Enterprises
July 6, 2020
A company's ability to answer customer questions and resolve problems has become as essential as product, quality, and price. When customers are ignored, or given the impression they are unimportant by slow response times, the consequences of lost business and a damaged reputation can be irreversible. A recent study found that many businesses fall short of providing timely customer service.
Time to Beef Up Your Algorithms
June 18, 2020
Accuracy means getting the right answer. Precision is about getting the right answer time after time. In a CRM situation an algorithm that gets the right answer is accurate and nice (we got the deal!) but if the business process supported by CRM has a lot of returns or unhappy customers, it's not very precise.
Sellers Prep for Continued Storm of E-Commerce Activity
June 18, 2020
Online sales are projected to surge even after America reopens for business. "One of the first things companies will need to do is make sure their technology infrastructure is equipped to handle the increase in traffic," Ryan Gellis, Founding Partner at RMG Media, told the E-Commerce Times. "The best marketing campaigns are only as good as the weakest infrastructure to support them."
The WFH Model Is Changing Customer Service for Good
June 11, 2020
As the dust settled on what most have deemed the "new normal" of working from home, many industries -- including customer service -- rapidly shifted operations to be remote work-friendly. At the same time, call volumes increased exponentially: During the last few months, airlines saw a 199 percent increase in customer inquiries, while grocers saw a 39 percent increase.
CRM's K-Wave
May 26, 2020
These are extraordinary times, in case you haven't noticed. One of my contentions these days is that CRM is penetrating society to a point that it is taking on an outsized role -- the "CRMification" of society. In economics we often see a disruptive innovation climb a ladder as it becomes something that society needs, as well as wants, until it becomes essential.
Work.com and the CRMification of Society
May 20, 2020
CRMification is the process by which the culture absorbs CRM technology, processes and techniques to achieve some kind of new utility for getting things done better, faster and cheaper. Today we should add safer too. Another way to state it is that CRM is a disruptive innovation in the culture. The next normal will have something to do with CRM.
Merchants: Adopting New Payment Technologies Is Easier Than You Think
May 11, 2020
Consumers increasingly demand seamless ways to purchase wherever they go, and they want their transactions to be quick, safe and, importantly, secure. The fact is, merchants must embrace new methods quickly or risk being left behind. Over the last decade, payment options have evolved in response to developments in technology and changing customer purchasing habits.
How to Adapt Your Customer Service When Crisis Strikes
May 8, 2020
Customer service doesn't have to suffer while your company goes through a difficult transition. In fact, 78 percent of consumers said they stopped doing business with a company because of poor customer service. Now is the time to show your most valuable buyers how you'll keep them informed, updated and respected throughout this crisis by adapting your practices to the moment.
Cultural CRM-ization
April 29, 2020
You can reduce the story of CRM to a lot of things, especially its many component parts. Social networking, cloud computing and analytics are mentioned often. We don't need an exhaustive list, but if we stop there I think we miss a lot. To me CRM isn't about the parts, although like most people following the industry, I get a modicum of joy when a vendor adds something new to the toolbox.
Zoom Oracles Its Way to Center Stage
April 28, 2020
Oracle and Zoom just entered a deal that for once is more about technological audacity than about dollars -- a partnership to host Zoom on Oracle Cloud Infrastructure. In just a few months -- basically since the beginning of the novel coronavirus pandemic -- Zoom has seen demand for its service grow from about 10 million daily meeting participants to more than 300 million.
A Patchwork of Useful Things
April 4, 2020
Adobe just announced what it calls the first digital economy index. It seems like it's modeled after other indices usually kept by the federal government to measure economic output and consumption. The Adobe index captures only consumer consumption behavior though. Some of its insights include new shopping behavior, such as which products have become hot items or decreased in popularity over time.
How AI Can Improve Customer Retention
March 21, 2020
Customer attrition and churn are not new problems. Anyone who has spent time in the sales world has heard statistics around the cost of acquiring a new customer. It can be five to 25 times more expensive to acquire a new customer than to retain an existing one. Improving customer retention by just 5 percent can increase profits by 25-95 percent, depending on your industry and company size.
4 Ways Intelligent CRM Can Help You Reach Tech-Savvy Millennials
March 18, 2020
Does your customer relationship management strategy have what it takes to reach Generation Y? It's estimated that by 2021, an additional $394 billion in revenue could be gained from artificial intelligence adoption in CRM activities in the U.S. As companies grow and technology evolves at a faster-than-ever pace, collecting, storing and providing data is becoming a bigger and bigger task.
The Virus and Podcasting
March 7, 2020
The coronavirus scare is working its way through the economy -- even affecting CRM. At this point some vendors are canceling events rather than taking the risk of having thousands of customers, press and analysts descend on a city, swap microbes through the air for a few days, then go home and likely further spread the microbes, some of which could be the virus.
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