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A global
survey, conducted by the IBM Institute for Business Value
and part of IBM Business Consulting Services' three-part series,
"Doing CRM Right," claims that only 15% of current
CRM projects are fully successful, but that the success rate
can be improved to as high as 80% through proper business
process methodology and prioritization (source: www.ibm.com).
These figures are corroborated by similar failure statistics
in the ERP/MIS areas. So, if software technology is not to
blame most of the time, what does it take to ensure the success
of CRM initiatives? Research suggests that proper planning
and strategy can enable success in CRM initiatives. A number
of issues need careful consideration to ensure higher degree
of success.
Companies
usually believe that investing in high-tech CRM software
is the solution to their customer retention problems. What
they fail to acknowledge is that CRM success is determined
by the strategy that has been employed and not by the technology,
though improper technology aspects could add to the woes.
At the CRM planning stage, companies need to take cognizance
of their processes from the customers' viewpoint and make
necessary adjustments to enable higher customer facilitation.
All processes that involve customers should be taken into
account. For instance, these could be in the use of multi-channels
for serving customers. A case in point is an ICICI Bank account
holder who can access the bank through the internet, ATM,
telephone, retail bank, etc. Adequate studies need to be undertaken
to ensure that the processes being practiced are indeed customer-centric.
For example, ICICI Bank has undertaken several innovative
CRM initiatives that are customer-centric. It offers a mobile
ATM facility wherein, the mobile van is stationed at places
frequented by its customers during the day; it has also introduced
ATM facilities with special machines for the visually challenged.
While ensuring customer-centricity, the company could also
take the initiative of adding more value to the offerings
(such as Airtel offering Blackberry to its customers and enabling
them to use e-mail while being mobile). |
