Thursday, May 10, 2012
Whether disappointing sales numbers or dissatisfied customers, no executive enjoys hearing negative news about his or her company. However, with the savvy application of CRM tools, organizations may be able to turn bad news into knowledge and opportunities, as Marketscan's Daryl Jay recently highlighted.
According to Jay, CRM can yield insights as to why a marketing campaign was unsuccessful, thanks to CRM's ability to precisely track the behavior of potential customers and clients. For example, CRM may reveal that despite receiving a significant number of responses on a company's website, very few of those responses led to sales.
Upon discovering this phenomenon, the company may look more closely into the responses given by the organization's web management team, discovering that this team was not adequately briefed before the campaign, and did not respond to queries properly. The company will now know to increase internal communications before beginning a promotional push in the future.
Additionally, CRM can help companies turn dissatisfied customers into brand advocates, as Baseline Magazine recently highlighted. Consumers highly value companies that address their complaints. CRM can help to organize these complaints and improve the time and quality of a company's response.