The value of good customer data
Now that the vast majority of business processes are digital and cloud-based, the potential to gather, maintain and use good customer data is also greater than ever. This in turn is enabling the CRM systems grow into their role as the new core systems of many companies – and many are choosing to build their processes around them.
With decreasing brand loyalty, increasing global competition and a growing distance between supplier and customer, the value of owning and working with customer data is also rising. Increased expectations of personalised customer experiences and the declining impact of anonymous, broad marketing also indicate that investing in CRM now will produce a good return.
The CRM systems have grown beyond their original roles as tracking tools in the sales department or distribution lists in the marketing department. The new technological platforms that are emerging are streamlining all communications and all business processes where customers are involved. Marketing, sales, ordering, trade, self-service, deliveries, customer service, "My page" and Communities. All in the same solution – fully integrated.