If your account reps could sell more, marketing could target better, and customer service was more responsive to key accounts, life would be great, wouldn't it? It may not be as hard as you think using CLV with Microsoft Dynamics 365/ CRM.
You’ve probably heard that it costs less to keep and grow an existing customer than to acquire a new one. And it’s true. But, for many organizations this truism seems to have fallen on deaf ears, as companies still spend a large amount of their time and resources on chasing after new, potential clients. Even then, their efforts can be fragmented and the results less than desirable. This is hard to understand because keeping and growing current customers, and finding new ones like them does not have to be hard.
I am often asked by managers how to improve the user acceptance of their CRM system. In the eyes of the questioner, the answer lies in how to encourage, or even make, users use the platform more, in order for the organization to achieve their established expected benefits of investing in CRM. That’s the wrong focus. The issue is not how do we get the user to use CRM, but rather, is the CRM itself designed to be useful to the user so that they want to use it. Although the difference is subtle it should not be overlooked.
I was reminded this week of how much fun this business can be working with clients. As I met with three different clients on their Dynamics Roadmap for the next few quarters, it reminded me of why I am in this business of strengthening customer engagement.
Each of the clients has been with us for some time and each understand the value of CRM to the organization’s profitability and growth. However, it was good to hear that they also view CRM as a tool to strengthen a deeper relationship with their clients for all the various touch points that they have with the client. CRM is a tool to guide existing and new users in their behaviors while getting everyone in marketing, sales and customer service on the same page with the client needs.
Generating leads and acquiring new customers is the lifeblood of every organization. Many organizations believe that satisfied customers and referrals are their best sources of leads. That’s certainly a sound principle and something to strive for but unless you’re measuring and tracking where your leads are coming from, this belief is anecdotal and little more than company lore.
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