April 8, 2008
CRM Evolves With CRM 2.0
I One of the most frequent questions I get on the blog is "what's next for CRM?". My response generally includes comments supporting the evolution of customer facing business processes, the delivery of more effective and actionable CRM analytics to greater numbers of knowledge workers, new technology tools which will provide more immediate and direct customer learning, transparent integration of CRM into the larger context of enterprise-wide ERP systems, and CRM 2.0. Inevitably, the comment on CRM 2.0 is the topic which then garners far more follow-on questioning. I'm not a CRM 2.0 expert, but I read the blogs, study the research, talk to the folks that are the experts and try to assimilate this next CRM wave into Aplicor's product evolution. I'll use this blog post to both explain what I think CRM 2.0 is and how it can be leveraged for sustained competitive advantage.
CRM 2.0 is an adaptation of Web 2.0 and the social media movement characterized by user generated content yielded through social networking sites, wikis, blogs, community forums and RSS content syndication. CRM thought leaders are testing new methods to communicate in the way the customer wants, to promote bi-directional exchange, and to engage the customer in a way that delivers improved understanding for both parties. For organization's on the leading edge of CRM, this strategy goes well beyond just making the customer feel important and in fact, makes the customer an integral extension of the R&D team, the marketing team or any other line of business that can benefit from direct contribution by the final recipient.
CRM 2.0 requires new thinking and recognition that the customer relationship balance with social customers has shifted from the company believing it controls the relationship with its product and service directed activities to one where the customer has injected himself into a more shared relationship, is part of a much larger virtual community and is more intent on being heard and recognized as part of the solution.
Some organizations view CRM 2.0 as a corporate threat rather than knowledge to be harnessed, leveraged and incorporated into the production of products and services for improved market acceptance and market share growth. It is true that the Web can put companies under a microscope of increased scrutiny, buyers can review independent product and service assessments never before available and social communities can impose their wrath on obstinate or uncooperative businesses. However, corporate transparency can also be used as a sustainable strategic benefit. It's hard to imagine the product or service that cannot profit from the candid or passionate input of a customer who has invested the time and money to utilize a company's solution.
CRM 2.0 need not be viewed as a threat as customer relationships will always continue to strive for a win-win result. When companies realize that social customers have a new avenue to get what they want, when the want it and how they want it, these companies also recognize they have an ideal opportunity to reduce market demand guess work, clearly architect higher fit products and services, achieve go to market solutions in reduced cycle times, deliver end products which will achieve far greater market acceptance and secure more meaningful and more profitable client relationships.
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Posted by Chuck Schaeffer on April 7, 2008 in Web 2.0
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READER COMMENTS
So Where Do I Go From Here?
Thanks for clearly explaining a term which I had no clue about, in fact I previously thought CRM 2 was a marketing term being planted to sell the next round of CRM software upgrades. Will you be posting more CRM 2 blog entries which go into more practical detail for those of us that may want to experiment with these new social technologies?
Posted by Bruce Manhart on April 9, 2008
CRM 2.0 Wiki
My blog posts are normally inline with whatever customers, business partners or friends of the company are inquiring about; so I suspect there will be a few future CRM 2.0 posts, but I also suspect topics such as product planning and new product deliveries will be more frequent. Besides, I'm not the guy who has the expertise for skilled advice on this topic. However, I can point you to what I think is the most forward thinking group of folks where you can get much more learning and advice. Check out the CRM 2.0 Wiki.or the aplicor forum, Social Media Forum.
Posted by Chuck Schaeffer on April 9, 2008
CRM 2.0 Explanation
Thanks for such a clear explanation of CRM2.0. You are so right with your explanation. The customers of a supplier will now check out opinions and experiences of other people with the supplier's products and services. The blogs, the forums and YouTube videos enable prospects to check out so many things about a particular product or service. The prospect feels now more in control and is so much more knowledgeable. A supplier can use this CRM2.0 to create a virtual community and customer advocacy like you say in your blog post. Doing this will become a mandate to win in the market. Thanks, Chuck, for a very well written explanation.
Posted by Toon Six on September 21, 2009
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