"We May Be on the Cusp of a Golden Age in CRM"
By Divya Malik on Oct 12, 2009
That was an interesting comment by Beagle Research's Denis Pombriant, who along with Paul Greenberg shared thoughts on the SFA market in a session moderated by Oracle CRM SVP, Anthony Lye.
- What state is the CRM market in? Businesses have gone from a corporate ecosystem to a customer focused eco-system, it is all about the customer and what they want, where they want it, how they want it and when the want it. CRM can make a huge difference in how companies compete in the marketplace today. We hear that SFA implementations fail more often than not but it is not the sales people nor the CRM software that goes wrong but really the leadership and how the applications are used. An interesting statistic-despite having SFA systems, 50% of companies still use spreadsheets, 61% of companies with best practices in sales mentioned that they get more value out of SFA systems than they put in and companies in which just VPs of sales were surveyed, they stated that only 13% got more value out of their SFA systems than they put in. This means that there is still a lot of scope for CRM to add value and hence tremendous opportunity ahead. We really might be on the cusp of the golden age in the CRM market with rising oil prices,economic recession, fuel prices going up, we need to continue innovating at a much higher degree than we have in the past.
- On Social CRM- Paul Greenberg defines Social CRM as the companies response to the customers response of the customers conversations. A company that has done a great job on Social CRM is Procter and Gamble- They have a social network of mothers. The only criteria is that the mothers had to have a social network of 25 mothers. Another example was Nabisco, the idea of the 100 calorie snack pack came from a a community of 300 people together.
- Cloud Computing- Paul Greenberg "I often disagree with Larry Ellison but at the end of the cloud there's a server, & it's necessary for the cloud to exist". The idea of a cloud is that you create an environment. Lots of customers don't want to move everything to the cloud quite yet because of security issues.
More to follow from our other sessions...