Major drivers of CRM initiative

CRM Initiative

This particular article will tell you all you need to know about CRM initiative. Make sure you read till the end.

OBJECTIVE OF THIS ARTICLE

At the end of this chapter, readers would be able to know those
v  Elements or pre-exquisites that are necessary in order for an organisation to have a successful customer-centric enterprise.
v  They will be able to know the role that technology and internet play in a customer-centric enterprise.
Definition
The word “drivers” are not strange, even to a layman. They are the one saddled with the responsibility of a taking you to your desired destination (s). Don’t be surprised, CRM as a concept has its own drivers! They are some components that must be present before you can achieve a desired customer-centric enterprise. Let’s journey together as we look at the four drivers employed by CRM.
crm initiative
  1. Location
The first reason why organizations have to evolve into a customer-centric enterprise is due to the fact that, in today’s world, businesses are no longer limited by geographical location, many people, for example, buy from Amazon.com, eBay and other online markets without knowing their exact business location. The distance between you and your market is now measured based on mouse clicks. That is why distance is no longer a barrier in business.
  1. Size
In today’s world, the size of an organization is no longer a barrier, organizations nowadays now have a level playing group with the advent of the internet. Some smaller organizations today can now have an edge if they are able to provide the appropriate logistics. The world wide web has made organizations stand out on the internet if they are able to provide the appropriate technology.
  1. Internet
The coming of the internet has brought about the introduction of business models. We now have the internet being part and parcel of many organizations. There is also the proliferation oe-marketplaces which has brought about stiff competition among many organizations. Some organizations have also been also been able to automate the business processes. This has allowed customers to be able to do many of what they would have had to go to the branch offices to do.
Scenario
In the past, Mr Adio could not do anything from his current account domiciled with an old generation bank without reaching the Bank’s office at Victoria Island in Lagos. When the bank launched itself on the internet, it was a relief to him. He could now transfer money from one account to the other, to check his balance, pay his staff and withdraw from the ATM. He could now shop online while his bank settled the bills on his behalf.
You should know that there are different types of automation that a customer-centric enterprise could adopt such as Enterprise Resource Planning (ERP), Sales Force Automation (SFA), and Customer Information Factory (CIF) among others.
  1. Technology as part of CRM initiative
One could safely say that with the advent of technology, a palace coup has occurred in between the customer and the organization with the technology, customers now dictate the pace of things in the business environment. Customers of today are aware of their choices. They also know how to navigate the internet in order to find what they want. This has placed a serious expectation on the service providers to meet up with the demands of the ever demanding customers.
Poser: Are you sure this is happening in Nigeria. If not why? Send your views to info@cehnigeria.com.
You should know that it is very difficult for organizations to control the pace of technology, but they can definitely control the pace of interaction with their customers. This can be done through the use of technology as an enabler.
I want my readers to know that what stands organizations out in today’s business environments is how well they managed their customers. Organizations must ensure that customers achieve their desired results irrespective of the communication channel that they choose to relate to the organization.
Summary
Having gone through this chapter, you should have known the four drivers of CRM. We have said that the drivers of CRM include: location, size, internet and technology. They are the ones that help in breaking barriers in many organizations. They allowed organizations to get in touch with their customers irrespective of their locations.
REVIEW QUESTIONS
  1. In your own view, why do you think that CRM drivers are very essential for any CRM endeavour?
  2. Why do you think that many organizations in Nigeria preferred to do business from a product perspective?
  3. What can you say about customer Protection Council (CPC) and the need to protect the interest of consumers in Nigeria?
  4. What role do you think ICT will play in helping a Customer-Centric Enterprise to achieve their objectives?
BRAINSTORMING SESSION
  1. How do you think the newly introduced cashless policy introduced in Nigerian banks will help banks to serve their customers better?
  2. Some have argued that Nigeria is not ripe for cashless policy. As someone that is knowledgeable in CRM, how do you think low bandwidth and internet facility will impact on the growth of cashless policy?

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