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Honesty Proves Best Policy for Closing B2B Deals: Study
April 23, 2018
Vendors have a better shot at closing deals for large-scale B2B software purchases when they are upfront and honest about the quality of their products, a new study suggests. There is a bit of a trust gap between what is promised in negotiations for these deals and what actually is provided, indicates the poll of more than 650 technology vendors and buyers.
Hybrid Messaging Key to Upselling Success: Report
April 21, 2018
Companies that aim to upsell their existing customers should develop a hybrid message that reinforces their existing relationships while providing an incentive to break the status quo, suggests a new study. Corporate Visions previously has commissioned studies on how to shake prospective customers' status quo bias to persuade them to consider your products or services.
Zuora Takes It to the Big House
April 17, 2018
After nearly a decade of company building, Zuora last week went public, valuing itself on the open market at roughly US$2 billion after gaining 43 percent on its first day of trading. Those outlines don't reveal the importance of Zuora generally, and subscription billing systems in particular, to the rapid evolution of the subscription economy and CRM.
CRM Tops Software Sales Charts Worldwide
April 11, 2018
Worldwide CRM software revenues totaled $39.5 billion in 2017, eclipsing DBMS, the former market leader. DBMS had worldwide revenues of $36.8 billion last year, and it "has been the biggest software segment for years, noted Julian Poulter, research director at Gartner. CRM software will be the fastest-growing software market in 2018, with a growth rate of 16 percent, Gartner predicted.
Beyond CRM
April 10, 2018
We should start discussing what's beyond CRM. I chose the word "beyond" advisedly. CRM is far from dead or even in decline, so "after" would be incorrect. However, CRM already has changed so much that it may be time to rethink it. Also, many of the tangential technologies that have turbocharged CRM in the last few years, like social media, have drawn so much attention that some analysis is due.
Digital Disruption
April 4, 2018
Andrew McAfee and Erik Brynjolfesson, who teach at MIT's Sloan School of Management, started writing about the impact of artificial intelligence and machine learning almost a decade ago. Their early books provided deep insights into the way the era we live in would unfold. A lot of their ideas were on display last week at TrailHeaDX: The Salesforce Developer Conference in San Francisco.
It's Getting Lonely at Quota Club
March 27, 2018
Sales people and their managers should be celebrating the economic gains of the last few years but for many of them the gains may be illusory. Sixty-three percent of sales reps made quota in 2012, but five years later -- despite an improving economy -- that number dropped to 53 percent, according to CSO Insights' continuing research, which stretches over more than two decades.
Zoho VP Rodrigo Vaca: AI Can Help Salespeople Seize the Moment
March 26, 2018
"The rise of artificial intelligence, for sales teams both internally and externally, is the biggest trend in the industry," observed Rodrigo Vaca, vice president of marketing for CRM at Zoho. If you think of CRM as the centerpiece for your company, and you marry that with the escalating amount of data that each company is gathering each day, ... you can do any sort of analysis on it."
Managing in Mature Markets
March 20, 2018
Markets and companies change as industries grow and as a disruptive innovation commoditizes. Generally, prices come down because the innovation becomes commonplace and competitors fight for every scrap causing margin erosion. Eventually markets equilibrate, and a monopoly or small oligopoly sets in. We can see this playing out right now -- mature industries like databases have an oligopoly set up.
Facebook's Vulnerabilities Surface
March 7, 2018
Adam Smith famously referred to "the invisible hand" of the free market in his landmark book The Wealth of Nations, and with that made himself one of the very first political economists. Smith's observation was so on point that most of us assume markets run through the agency of individuals pursuing their enlightened self-interests, which helped drive the evolution of CRM as a tracking tool.
Customer Experience Revolution Ahead: Gartner
February 24, 2018
Enterprises have begun overhauling the way they handle customer experiences, suggested Gene Alvarez, managing vice president at Gartner, at the firm's customer experience event in Tokyo earlier this week. Twenty percent of brands will abandon their mobile apps by 2019, he predicted, choosing consumer messaging apps such as Facebook Messenger and WeChat instead.
Keeping It Simple
February 22, 2018
Disruptive innovations expose longstanding needs and signal that there's a solution at hand -- one that usually is less expensive than the status quo. The lower-cost aspect makes adoption inevitable and disruptive. Document management is like that. Decades ago, many enterprises found that the cost of capturing documents as electronic images vastly improved on costly file cabinet systems.
Broken Corporate Processes Degrade Customer Experience: Survey
February 21, 2018
Broken corporate processes have been contributing to negative customer experiences, a recent survey suggests. One thousand employees in U.S. companies with a workforce of 500 or more who work on a computer or mobile device for more than five hours a day responded to the online survey conducted by Nintex. Overall, 54 percent observed broken administrative processes within their organization.
Advanced Selling Strategies
February 17, 2018
One of CRM's overlooked benefits, accrued over many years, is its influence on business processes. Twenty or so years ago, front-office business processes were simplistic, due in part to the lack of technology support. For example, business leaders might have wanted to peer into a sales process to better incentivize sales reps, but rarely did so because it required a lot of data.
Trending in CRM
February 14, 2018
It's uncertain how the CRM market will look in six months, given the stock market, the economy and the tax bill. Initial indications are that more money will be available for various corporate activities, like hiring and rewarding employees and investments in products and business processes. If so, a decent amount of cash might find its way into various CRM company coffers.
To Win in the New Delivery Economy, Go to the Cloud
February 12, 2018
As Amazon sets consumer expectations for rapid delivery to the home, companies in nearly every industry have been recognizing that they must move to the cloud to keep pace. This means revamping their transportation and logistics systems to meet their customers' escalating delivery expectations. These rising demands have been fueling the growth of a new generation of cloud-based, SaaS solutions.
Five9 President Dan Burkland: Leveraging Tech for Great Customer Experiences
February 7, 2018
"We're seeing a digital transformation take place, where companies are moving their contact centers to the cloud," noted Dan Burkland, president of Five9. "There are two key criteria for a contact center -- there's the CRM and the contact center infrastructure, and those two really go hand-in-hand. You bring a call, chat, text or email into the center, and you have to look for an agent who's available and properly skilled to handle such an interaction."
Document Management Revisited
February 5, 2018
The IT industry has been playing whack-a-mole since its inception. We've been applying sophisticated technology to our biggest business problems not once but repeatedly, as each new generation of technology offers and delivers order-of-magnitude improvements to our business processes. In some cases, we're on our fourth or fifth iteration of solutions.
The Top 20 CRM Blogs of 2017: Countdown, Part 2
January 31, 2018
Where does the discipline of CRM begin? We have a good idea where the software fits, but where does its impact end? With a sale? With a customer saying good things about your company to other customers? With a repeat purchase? And does CRM contribute to these events alone, or is there a web of other activities that help drive these relationships -- and do we ever consider these things to be CRM?
The Top 20 CRM Blogs of 2017: Countdown, Part 1
January 22, 2018
Something very interesting is happening in the world of CRM blogs: CRM is becoming less and less of a subject. Oh, it's in there -- it's just being elbowed to the back of the stage by a whole host of other related disciplines and technologies. Customer experience, customer engagement and content marketing are vying with artificial intelligence, Internet of Things and bots to elbow ahead of CRM.
CRM in 2018
January 3, 2018
Figuring out the year ahead in CRM is tricky and getting more so. Making predictions has been more challenging for the last several years. We've seen an array of new technologies take root and blossom, but managers have had trouble figuring out how to adopt them. Those innovations have fueled a lot of anxiety in the C-suite about digital disruption, but each company's disruption is different.
2017: CRM in Full Stride
December 23, 2017
There was a lot in customer relationship management to like in 2017. The industry racked up north of $35 billion and the cloud reigned supreme. However, future growth presents a challenge. We're going to need to look beyond selling generic seats to grow the CRM market from here. It's a whole new ball game now that Oracle has credible cloud CRM. Other vendors will need to bring their A-games.
B2B Digital Ad Spending to Jump Next Year
December 18, 2017
B2B ad spending will increase 13 percent in 2018 to hit $4.6 billion from this year's estimated $4.07 billion, eMarketer has predicted. However, its proportion of all U.S. digital ad spending will remain unchanged at 4.9 percent, which implies growth in other digital ad spend areas as well. Desktops and laptops will continue to attract the bulk of B2B digital ad spend, according to eMarketer.
Most Marketers Struggle to Reach Targeted Customers
December 16, 2017
Sixty percent of the digital marketing professionals who responded to a recent survey reported difficulty in reaching their target audiences with messaging and content. Only 19 percent of those surveyed were "very familiar" with how automation could help drive marketing campaigns, according to Ytel. Fifty-eight percent of those surveyed said they liked to use phones for marketing.
Creeping Decentralization and CRM
December 13, 2017
One of the big stories of next year might be decentralization. Decentralization is what it sounds like: pushing centralized processes and decision-making to the periphery, where it is believed people can be more effective at dealing with whatever is on tap. Western democratic capitalism runs circles around Soviet style centralized command-and-control economics.
Machines Could Become Driving Force Behind CX
December 6, 2017
Customer experience improvements have become an important part of companies' digital transformations, according to survey results Mitel released Tuesday. More than 2,500 senior IT decision makers across North America, the UK, France, Germany and Australia responded to the survey. The participants represented businesses ranging from 250 to 10,000-plus employees in a wide range of industries.
B2B Tech Marketers Have Work Cut Out for Them
December 4, 2017
Product reliability and ease of use are key for B2B technology marketers, suggests a recent survey of technology product and service decision makers in the U.S. Four hundred B2B tech buyers participated in the survey, conducted for Lavidge by WestGroup Research. Overall, 68 percent cited reliability as the most critical criterion in their purchase decisions; 64 percent said ease of use was key.
Everybody Talks About CX, but Nobody Does Anything About It
November 21, 2017
Customer experience quality didn't improve in the retail industry this year, despite keen competition among online retailers, according to Forrester's U.S. 2017 Customer Experience Index. The three top-ranked etailers came within fractions of a point of each other. Among the industries Forrester examined, online retail was the only one in which no brands kept the same position as last year.
E-Commerce Provides Fertile Ground for B2B Growth
November 19, 2017
Business-to-business firms view increased online activity as an effective way to boost their growth, according to a new report from CloudCraze. Eighty-nine percent of the 400-plus B2B decision makers CloudCraze surveyed in the United States and Europe expected digital commerce would help their businesses grow. E-commerce has altered the role of sales teams, the CloudCraze survey also suggests.
Revisiting Show Season
November 14, 2017
Show season changes the CRM market. One day you're in the vanilla application software space, and a week later you understand the need to incorporate social media or analytics or machine learning, or you see a need for enhanced integration and development through platform services. It goes on. Today, in the wake of many companies' trade shows, we're again taking a look at the available suites.
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Which capabilities in a home robot might induce you to consider buying one?
Help with daily housecleaning chores
Companionship for elderly or disabled family member
Entertaining and educating children
Monitoring security all through the house
Keeping inventory and restocking items when needed
Nothing would persuade me to consider getting a home robot.