Tool Box

Issue No. 12 - August/September 2003

Five Rules for Making CRM Strategy Work

by Max Franchitto

Managing the information you collect about your clients is essential to good business.

With costs of Customer Relationship Management products on the increase and failure rates reportedly doing the same, here are Five Tips to help get results from your efforts:

• Know your goal. While it may sound obvious, most companies don’t practice it. “Increasing customer profitability for our Web channel," “cross—selling to maximize customer value—per—visit," and “adopting one—to—one marketing tactics for our Top 50 business customers," are all admirable and ambitious CRM goals, but each requires drastically different development tactics, says CRM authority Jill Dyche, founder of the Baseline Consultancy Group (USA).
• Start small; think big. Business requirements should not appear all at once and fully formed. Dyche notes that the most successful CRM projects begin by addressing a high—impact but narrow business goal and using the resulting infrastructure as t...

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