Three steps for a successful CRM strategy (19 Apr 2010, The Wise Marketer)
The Wise Marketer - Home Subscribe to our RSS feed!   Share it!    Tweet this! Share this via LinkedIn! Share this on Facebook! Share this on Google Plus!
Email this page to a friend!
Sunday 1 February 2015
The Wise Marketer See The Loyalty Guide 6 up close, and find out how to increase profits and market share with more effective loyalty marketing!

Get your loyalty news delivered weekly ... sign up here

Three steps for a successful CRM strategy

Swap to the printable version of this page
Add this document to your Research Clipboard

Monday April 19, 2010                      Tweet this article

Tell a friend   Tell a friend about this article

Building a customer relationship management (CRM) strategy is a unique process for each organisation that nevertheless should always involve three key steps, according to a report by Gartner.

The report, entitled 'Three Steps to Create a CRM Strategy', sets out and explains three key steps involved in developing and executing a successful CRM strategy: setting the destination, auditing the current situation, and mapping the journey to the destination.

According to Gartner, an effective CRM strategy cannot be developed in isolation, and must be relevant and linked to the overall corporate strategy, as well as building on existing sales and marketing strategies that are already in place.

The three steps outlined in the report can provide a solid framework for CRM success, as follows:

  1. Set the destination
    The vision of the company and the goals derived from this vision are the intended destination of the CRM strategy. The vision will be heavily dependent on the leadership of the company and on the selected CRM strategy. Ensure that the CRM vision is to articulate the future environment for the organisation in terms of profitability and customer experience.

    During the initial stages of the CRM initiative - while the CRM vision and strategy are being developed - the leadership and governance structure must be agreed upon and roles allocated before it is stressed by the impact of change management upon employees.

  2. Audit the current situation
    Skills, resources, competitors, partners and customers all need to be consulted in assessing the starting point. Before beginning the CRM initiative, organisations need to identify how mature their existing approach to CRM is. Most organisations have some existing or past attempt at CRM; even if these were deemed failures, there are usually some foundations that can be leveraged rather than ignored by the new team.

    Use the audit to evaluate the organisation against equivalent organisations in the same or a similar industry. A competitive benchmark is an excellent way to gauge how far behind or ahead the organisation is in comparison. Along with these two approaches, there are many other types of audit. Ultimately, companies should use as many of these assessment types as possible to prepare for the development of the CRM strategy.

  3. Map the journey
    The journey may take many years, and the map will change en route. It is important to plan for this before starting. A CRM strategy explains how an organisation will achieve the CRM vision. It is the integrated blueprint for how the organisation will achieve its sales, marketing and customer service goals.

    Therefore, it must give quantitative answers to questions such as: What is the ideal customer base? What products or services is it going to sell, to whom, at what price and through which channels? However, it must also be able to give much more subjective answers to more-holistic, organisation-wide questions such as: What is the best way to build customer loyalty? How will the organisation connect with a customer to create a positive "gut feel"? What will drive customers to recommend the organisation, brand and products to others more often to the point that they are willing to pay a premium price?

"Setting the destination, auditing the current situation and mapping the journey is an iterative process that may require several revisions before a final CRM strategy is developed," explained Ed Thompson, vice president and analyst for Gartner. "The challenge is to avoid rushing the development process, as the company may be committed to many years of change."

The report has been made available for purchase from the Gartner web site - click here (registration required before purchase).

More Info:

> The Customer Loyalty Marketing Guide

Tell a friend about this article Tell a friend   or   Tweet this article

In related news...

Have your loyalty news delivered.

You can have the most important loyalty marketing news sent by email every week...
Sign up here

Find out more The Loyalty Guide - your complete guide to customer loyalty, engagement, digital, social & mobile marketing. (PDF, 1276 pages)

Download a working sample here


What is The Wise Marketer?

We're an independent trade publication for customer loyalty and marketing professionals, bringing together all the latest news, research, and best practices from the whole industry, worldwide ... Find out more

See The Loyalty Guide 6 up close, and find out how to increase profits and market share with more effective loyalty marketing!

Join nearly 20,000 other loyalty and marketing professionals and get our free weekly news roundups...

Sign Up For Free

Subscribe and follow...

Get our free weekly newsletter
Follow us on Twitter
Follow us on Facebook
Follow us on Google+
Follow us on LinkedIn
Access our RSS news feed

Hot off the presses...

What's been happening this last week?

Customer Identity Management: The New Imperative - Marketing today is different because consumers behave differently than ...
Customer Loyalty must go 'Back To The Future' - Loyalty marketers should be using the current consumer spending 'boom ...
Recycling Your Audience Harms the Environment - There is an urgent, rising need for marketers to drive business growth by ...
Digital trends that will finally mature in 2015 - This year will be a rare event in the digital marketing world: it will ...
Relevance unlocks the returns of traveller rewards - People are travelling more frequently and further than ever before ...
Loyaltyworks launches mobile incentive app - has released an incentive programme mobile app. As a ...
Citi card offers points transfers to Virgin Atlantic - Citi ThankYou Premier and Citi Prestige card members can now ...
Green MasterCard offsets 2lbs of Carbon per Dollar - To address the problem of the carbon dioxide emissions that the ...
Choice Privileges unveils Points Plus Cash option - Choice Privileges, the guest loyalty programme for Choice Hotels, has ...
Canadians rely on loyalty points for travel plans - has launched Expedia+, a loyalty programme in which ...

  ... Never miss anything important - join nearly 20,000 marketing professionals and get our free weekly newsletter, written by marketers for marketers - sign up here!


The Loyalty Guide  |  The Marketing Guide  |  Free Weekly Newsletter
News  |  Briefs  |  Heads-Ups  |  Features  |  Directory  |  Events  |  News Digest  |  Log Out  |  Log In  |  Site map
Latest Newsletter  |  Topics  |  News By Region  |  News By Company  |  News Round-up  |  Mobile Edition
Home  |  Tell Us Your News!  |  FAQs  |  Contact Us  |  Privacy  |  Legal  |  About Us  |  Full Search
The Wise Marketer - Home Subscribe to our RSS feed! Share this on Facebook! Share this on Google Plus! Tweet this! Share this via LinkedIn! Email this page to a friend! Published by Wise Research Limited. Copyright © 2000-2015 The Wise Marketer. All rights reserved.