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September 2008 Newsletter |
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September already! Given the rain we have been experiencing in New Zealand this winter, roll on Summer!! Tom Duffy, the COO of a client of ours, Fuji Xerox New Zealand, sent me the email below following some conversations we had on Customer Experience Management and Customer Relationship Management. I asked if I could share it with our subscribers: “Neil, Not much to comment on here really, other than to say this is right on the money and more organizations should disseminate this message. Thanks Tom, appreciate you letting us share this with our subscribers. We talk a lot about the need to manage promises in organizations; hence in this issue we have a short article about fulfilling the promise from Lior Arussy. By the way, Reg Price’s book on promises management will be out shortly and we are all looking forward to it. We will keep you posted on this. Word of Mouth (WOM), does it really have an impact? We provide a link to an introduction to a paper by Satmetrix which provides the evidence using the Net Promoter economic model to show just how important it is. In our CRM space this month we revisit why CRM still battles to get adoption. Some of you who have been subscribers to Customer Focus Times might be saying “surely not still Neil” ...well, read the article by Rick Cook below and see how and why it is still happening! This month's edition of Customer Focus Times includes:
Kind regards Managing Director Customer Experience – fulfilling the promise, by Lior ArussySetting realistic expectations is critical to the longevity and profitability of any customer relationship. In their eagerness to close business, many companies make promises that they are unwilling or unable to fulfill – leading to contentious and unprofitable relationships. Read full article here... Economic Impact of Word-of-Mouth Calculated Using Net Promoter Model - SatmetrixIn our business we are constantly talking about how “Customer word-of-mouth (WOM) behaviors have strong financial positive and negative impact on customer loyalty, ultimately affecting company growth”. Click here to go to an introduction to a Whitepaper and some key findings from a study done by Satmetrix. The Whitepaper is well worth downloading, or at the very least, the introduction should get most people thinking about the importance of WOM! 3 Places CRM Can Go Awry, by Rick CookCRM Change Management is a core service of SRD Group and we continue to work with organizations to help maximise their investments in CRM. Why? AMR Research says "user adoption remains a challenge, with 33% to 47% of customer management applications facing serious adoption issues". “There is an interesting paradox going on in CRM right now” explains Rob Bois, research director at AMR Research. “Spending has reached an all-time high, with expectations nearly as lofty. But implementation failure rates have not improved, nor have ROI metrics. Both buyers and vendors need to figure out how to close this gap soon, or we’re just going to repeat the same mistakes made in the late 90s all over again.” AMR Research, September 27, 2007 As the article by Rick Cook says, “Consultants, vendors and other veterans of the CRM wars will tell you they see the same three problems over and over again. There are a lot of things you need avoid to implement successful CRM, but these are the Big Three. Big, not just in the sense of being the most common, but big because they can doom even the most lavishly-supported CRM effort.” Read the full article here... The Last Word“Next to doing a good job yourself, the greatest joy is in having someone else do a first-class job under our direction.” – William Feather SRD Group - Focused on performance improvement in Customer Experience and Customer Relationship Management |
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