CRM, revenues and branding

22 Nov

Clue 1: This week started off with a call from my younger brother who wanted to discuss the new CRM position he is interviewing for.

Clue 2: An advertising veteran friend and I get into argument on true definition of M in CRM. He thinks its Marketing while I insist it is Management.

Clue 3: The McKinsey Quarterly discusses “Generating revenue from your call center“. I thought call center, a component of CRM, must have been part of revenue drive of companies. Were we not done  with that back in 90s? I guess may be not.

Clue 4: Finally I got newsletter from insightexec.com talking about CRM for brand loyalty.

If you link all these clues together and seek a pattern, you can predict the whole CRM-universe.

Here is what I think.

We are still learning about CRM; which is good.

We are still confused what really CRM means, what are its components; which is a yellow flag if not red.

Lack of understanding results in inefficient use, or sub-optimal benefits from CRM. Hence we are still ignorant of the true potential of “relationship” with customer. Its a potential opportunity even if our interaction is part of service process. Its revenue opportunity even if that interaction is through a call center.

Finally branding. Branding is not few 30 second spots on TV, or some glossy ads in a magazine. Branding is also how your service rep listens to a customer who has something to say (complaint = opportunity = revenue).

Hence it proves that distance between two points, in a corporate world, is covered in multiple elliptical iterations. We visit the same subjects again but make a little progress towards our final destination during every cycle. 

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