How Not to #Fail: A Look at CRM
Customer relationship management (CRM) programs are supposed to make it easier for retailers, not cause headaches. Still, there are countless stories of CRM failures, ranging from underutilization to just outright bad implementation. The prospect of failure shouldn't deter anyone though; retailers need solid CRM systems in place. Churn rates are staggering considering how many retailers have come to market in the internet age. As a result, no one should wait for customers to initiate contact.
With most business successes and failures, it's difficult to identify which factors have the largest impact, but there are a few things retailers can do to ensure a solid foundation. Outlined below are some of the biggest obstacles, dangers and fail factors every company needs to be on the lookout for when attempting to implement a CRM program. All of them are especially important in retail, with a constantly changing portfolio and inventory and the need to consistently react to market trends and fads.
A Clear Strategy
Retailers need CRM programs, but that doesn't mean they should call up the first vendor that comes to mind and dive in. Understanding how a CRM program works and finding the right fit is going to maximize the benefits for the company.
However, choosing the wrong CRM partner could be the kiss of death. You need to find a company that's on the same page, can meet your needs and won't bog you down with unnecessary expenses. Your provider should be flexible. The goal is to find a company that will help you grow your business, not be so self-obsessed with its products that it fails to meet the needs of its customer — you.
Your workforce must believe in the new strategy, along with adopting new technologies and business applications. Additionally, strategies need to be in place to initially train and constantly support employees. High attrition and a constant influx of new employees can leave a CRM program lifeless and ineffective