Salesforce.com Showing Signs of Adulthood

No one knows hype better than Marc Benioff, the ebullient CEO of Salesforce.com (CRM:NYSE). Benioff is so self-confident he once tried to use the Dalai Lama as part of a marketing campaign.

The idea fell through, but not before it generated more publicity than the campaign itself would have produced. Some months earlier, he enlisted Arnold Schwarzenegger, then running for governor of California, to premiere his newest Terminator film at a Salesforce product launch.

Continue reading “Salesforce.com Showing Signs of Adulthood”

Making a big deal out of hosted CRM

If Salesforce.com’s recent announcement that Merrill Lynch signed a 5,000-seat deal wasn’t enough to bolster the argument for hosted CRM in the enterprise, a report from Boston-based AMR Research Inc. should be.

Hosted CRM has gained a firm foothold in the market and, according to AMR, that goes for larger businesses as well as small. In a survey of roughly 200 companies across the services and manufacturing industries, AMR found that 40% are using hosted CRM applications. Not only that, but 49% of companies will use a hosted sales or e-commerce application within the next 12 months, including 47% of companies with 5,000 or more employees.

Continue reading “Making a big deal out of hosted CRM”

New Rules for Better Customer Relationships

The bloodletting in call centers, CRM and Web-based customer self-service has shown that a CTO can’t simply install a piece of software and expect it to start improving things; Web applications and call center automation will grow smart enough to improve a business’ value proposition only when they work in concert.

Customer self-service  Web applications built without regard for other contact channels have placed many companies in the position of showing customers internal inconsistencies and inefficiencies. One service channel often doesn’t synch with the other, and neither takes full advantage of data in back-room systems.
Companies trying to improve customer relationships through Web-based self-service and other channels should consider business rules management technology as a means to resolving their technical issues. Newer technology such as Web services can help integrate numerous applications to give business managers control of customer- facing information technology (I.T.).

Continue reading “New Rules for Better Customer Relationships”

Measuring ROI of CRM Systems

Assessing ROI for CRM initiatives can be a daunting task and attempts to offer a framework for helping a business manager measure ROI of CRM systems is difficult to do.

Part I – Challenges, notes that there are many reasons why CRM systems defy easy ROI calculation, most of them stemming from just how vast and far-reaching the benefits of CRM are; and goes on to discuss six key reasons why assessing ROI is so challenging

Continue reading “Measuring ROI of CRM Systems”

Choosing a CRM Solution

Choosing a Customer Relationship Management (CRM) technology has often been a daunting task for companies in all industries. Whether in financial services, telecommunications, retail, high tech or any other area, companies know that in order to be successful, they need to better service their customer and partners. How to do this can appear to be a monumental task particularly for Small to Medium-sized businesses. However, the approach for a multi-billon dollar empire or a small startup company just coming into the CRM game should be the same.

Anyone evaluating a CRM technology must consider the same 10 points to make it successful. In determining an approach on the first – Company Goals and Strategy – the others may no longer apply, but if questions remain, considering these 10 points will remove any doubts:

Continue reading “Choosing a CRM Solution”

NetSuite Debuts CRM+

CRM+ includes these all of NetSuite’s latest developments, along with new customer and partner relationship management features. Its customer self-service portal provides a real-time view of customer interactions across multiple channels.

has launched CRM+, a new application package that includes all of the functionality of NetSuite’s existing product line, such as integrated order management, CRM, e-commerce and accounting, as well as new partner relationship management and customer interaction tracking features.

Netsuite CRM+ targets companies that want to go beyond standard CRM functionality. "CRM+ has been designed for those customers that want additional capabilities beyond standard sales and marketing," says Mini Peiris, senior director of product management.

Continue reading “NetSuite Debuts CRM+”

The Top Five Tips for CRM Strategy

The familiar refrain of CRM failure is a hard one to avoid these days with so many industry watchers pointing to flawed strategies among customers, vendors and consultants as the reasons for an overwhelming lack of success.

Researchers such as Gartner Group and Meta Group have chronicled failure rates of 55-70% for CRM implementations in general, and point to a lack of clear strategy as a key contributor to this dismal industry track record. So, it would seem only rational to turn to these same industry watchers for their answers to the obvious questions that arise out of this: which CRM strategies work, and why?

To find out just what CRM strategies are paying off and why these tactics are the cornerstones to success, SearchCRM tracked down five industry experts for their best advice to the masses. What follows is the first in a three-part series on their top tips for effective CRM strategies.

Continue reading “The Top Five Tips for CRM Strategy”

Microsoft CRM: Buy Now or Wait?

Microsoft’s announcement that the 2.0 release of its CRM package will be delayed another few months has created a dilemma for many small to mid-size businesses (SMBs).

Some had put off their purchase of CRM software, waiting for Microsoft’s new version. Now, they are wondering whether they should go ahead and buy it or pursue another product.

It all depends on what the company seeks from CRM software, according to Forrester Research’s Liz Herbert. The fact that Microsoft has pushed off the release of version 2.0 does not necessarily mean that companies should avoid it altogether.

First Come, First Served

Companies that already own Microsoft CRM 1.2 will be first in line when 2.0 hits the streets, said Herbert. That may be reason enough to go ahead with a purchase. The new version will include long-awaited reporting improvements that allow users to slice-and-dice CRM data in Microsoft Excel.

In addition, the current version of Microsoft’s CRM application has a very friendly user interface and strong support for Web services, Herbert adds. What makes Microsoft’s other products so easy to use — their interface — means that both front-office and back-office staffers have little trouble learning the package.

Now for the Bad News

The current Microsoft CRM package has "very little marketing functionality," said Ben Holtz, CEO of SMB tech consultancy Green Beacon Solutions. Many of his clients are waiting impatiently for marketing automation to be rolled into the package, and now they must wait a while longer.

Many have been forced to turn to third-party add-on products to support necessary marketing processes, Herbert notes.

In fact, any customization of Microsoft CRM requires substantial involvement from I.T. personnel, Herbert says. That can be prohibitive for smaller companies whose technical employees already are overburdened.

In addition, getting information out of version 1.2 and into other systems — for sophisticated analytics, for example — requires either batch transfer or transaction-triggered export. Microsoft has provided good integration with its own Great Plains business software for SMBs. But it has failed to do so for other frequently used accounting and planning packages.

CRM And Customer Life Cycle

Customer Relationship Management or CRM is a combination of enterprise strategies, business processes and information technologies used to learn more about customers’ needs and behaviors in order to develop stronger relationships with them. CRM software systems automate many customer-related business tasks. CRM applications are traditionally developed as client-server software which incurs higher initial cost of ownership. The proliferation of the Internet and the Web has fueled the rapid growth of Web-based CRM or online CRM applications ( http://www.sysoptima.com/crm/web_based_crm.php ). Web CRM systems are widely deployed for web based call center, contact management, trouble ticket, personal information manager and scheduling.

The life cycle of CRM consists of three phases – customer acquisition, customer relationship enhancements and customer retention. CRM software streamlines CRM activities at each phase of customer relationship management.

Customer Acquisition

Contact management module and direct marketing module of CRM allow companies to effectively promote and market their products and services to prospects. Those modules help speed up the acquiring processes and reduce the cost of acquiring new customers.

Customer Relationship Enhancements

CRM helps companies better understand existing customers’ needs and behaviors and enhance the profitability from existing customers by cross-selling. They can customize their products and services to individual customers’ needs and preferences.

Customer Retention

Customer service module of CRM system gives the organizations the edge in customer support ( http://www.sysoptima.com/crm/call_center_management_software.php ). They can increase customer satisfaction while reducing the cost of support. Customer retention is critical to the overall profitability of an organization. A customer you spend hundreds of dollars and months to acquire may leave you in seconds as a result of poor customer services.