The Customer Management Scorecard: Managing CRM for Profit

The Customer Management Scorecard: Managing CRM for Profit

by Neil Woodcock, Bryan Foss, Merlin Stone
     
 

ISBN-10: 0749438959

ISBN-13: 9780749438951

Pub. Date: 01/28/2003

Publisher: Kogan Page, Ltd.

Given the big budgets that are attached to customer management (CM) initiatives, it's not surprising that companies are keen to see a good level of return on investment. But many companies, especially large ones, are finding that they are not adding value through their CM programs. Conversely, those companies that have focused on improving their CM are seeing

Overview

Given the big budgets that are attached to customer management (CM) initiatives, it's not surprising that companies are keen to see a good level of return on investment. But many companies, especially large ones, are finding that they are not adding value through their CM programs. Conversely, those companies that have focused on improving their CM are seeing significant benefits, as this book clearly shows.

Product Details

ISBN-13:
9780749438951
Publisher:
Kogan Page, Ltd.
Publication date:
01/28/2003
Pages:
428
Product dimensions:
7.66(w) x 9.82(h) x 1.19(d)

Table of Contents

List of figuresx
List of tablesxii
List of contributorsxiv
Forewordxvi
Acknowledgementsxvii
Introduction1
Part 1.The Scorecard Results and Conclusions9
1.What is CMAT?11
The scope of a CMAT assessment11
How a CMAT assessment is carried out18
The benefits of CMAT assessment20
2.Overall analysis21
Customer management performance is disappointing21
Why the scores have declined23
Why companies are performing so poorly, despite the investment23
It's not all doom and gloom26
3.Customer management around the world28
North America29
Canada32
Germany33
Switzerland34
Austria35
United Kingdom36
Developing Asia Pacific37
Japan38
Importance of these findings40
4.Where companies can create and destroy value41
Introducing the customer management value chain41
Focusing on customer value43
5.Analysis and planning47
Characteristics of the highest-performing companies48
Examples of best practices48
6.Proposition58
Characteristics of the highest-performing companies58
Examples of best practices59
7.Customer management activity67
Where value is being created (extracted from highest-performing companies)68
Examples of best practices69
8.People and organization77
Characteristics of the highest-performing companies78
Examples of best practices79
9.Information and technology83
Characteristics of the highest-performing companies84
Examples of best practices84
10.Process management87
Characteristics of the highest-performing companies88
Examples of best practices88
11.Measurement94
Characteristics of the highest-performing companies95
Examples of best practices95
12.The customer experience99
Characteristics of highest-performing companies99
Examples of best practices100
13.The role of customer information management and usage in best practice customer management103
Introduction103
Methodology and findings106
General findings107
Information management and usage findings108
Best practices110
Conclusions119
14.The Dutch insurance industry CMAT study121
Introduction121
General results122
Direct insurers score best122
Analysis and planning123
Proposition124
People and organization125
Information and technology126
Processes126
Customer management activities127
Measurement127
Customer experience128
Conclusions128
15.Trends in customer management130
Customer management spend is increasing130
Trends in customer contact channels and media132
16.The business case for customer management137
The correlation between customer management and business performance is clear137
Identifying the main benefits140
Benefits as a percentage of turnover141
The size of the investment: the 4:1 rule142
The organization's maturity and competence in CM management143
Summary base data used in QCi research148
17.Guidelines for successful CRM implementation150
CM projects are far more likely to fail than succeed150
Project implementation tips151
Part 2.Measurement, Systems and Data159
18.Return on investment on e-CRM161
Introduction161
e-CRM is CRM enabled by Internet technologies162
Back to basics for an e-CRM metric163
Learning from the mistakes of the past164
Determining the ROI on e-CRM is challenging164
The change required is greatest on people, organization and processes164
Publishing information165
Interaction166
Transaction166
Integration167
e-CRM for cost reduction167
e-CRM for increased revenues168
e-CRM for improving cash-flow management168
e-CRM for improvements in the customer experience169
The costs of e-CRM are in technology, process, people and organization169
Conclusions170
19.UK data warehousing and business intelligence implementation: general and retail172
Introduction172
The current status172
The research results174
The case study174
Conclusions176
20.Using advanced data analytics to improve customer management178
Introduction178
Treating the customer as an investment179
Single-entity view180
Implementing ECA181
Conclusion190
21.Applying IT in customer management193
Introduction193
The basics of systems selection193
Recent changes194
Implementation196
Building an integrated IT capability for customer management198
Future technology trends212
Conclusions220
22.CRM's Achilles heel: understanding the customer221
Introduction221
What happened to the CRM 'vision'?222
Where marketing and research fit in224
The 'solutions' playing field: what's going on228
The 'closed loop' breakdown231
Customer experience management solutions: CRM looks in the mirror238
Analytical and market research integration241
e-research and business243
Cultural and organizational change: a reality in organizations248
Conclusion and outlook250
Part 3.The Sectoral View253
23.Managing public sector customers255
Introduction255
The challenge257
Special issues affecting public sector customer management258
Inter-sector differences260
Understanding the customer261
Translating experience between sectors262
Delivering best value local customer service to the UK citizen264
Measuring customer management performance271
Case study 1Public sector CMAT271
Case study 2The cost of customer management274
Case study 3Service to the elderly276
24.CRM strategy and implementation in telecommunications281
Part 1Context and methodology281
The vision283
The forces285
Part 2Case studies287
Company W287
Company X288
Company Y289
Company Z291
Building the CRM strategy293
Paperless complaint resolution296
Telecom Italia300
Overall conclusion302
25.Business-to-business CRM303
Introduction303
B2B market context303
Effective account management, possibly global in scale305
Customers: the final link in the supply chain308
Measurement and CRM metrics in B2B310
Conclusions311
Part 4.Channels and Media313
26.Multi-channel customer management315
Changing times, changing channels315
Definition of multi-channel customer management316
Why multi-channel customer management is important now317
The benefits317
The challenges318
Seven factors driving change319
Determining channel functionality321
Customer experience must be the start point322
Overcoming technology complexity323
Organizational issues324
Measurement325
The economics of multi-channel integration326
Recommendations326
Checklist328
27.Permission-based e-mail332
Introduction332
Ethical issues and the Internet333
Permission-based e-mail marketing334
Research methodology335
Results336
Conclusion343
28.The data lessons of e-mail in CRM345
29.Measuring and improving the usability of new media352
Introduction352
Improving usability353
Why people do not buy from Web sites354
The solution354
The benefits355
What to do about it355
Case study: putting citizens first, establishing usable e-government357
Part 5.Implementation and the Future361
30.Customer and employee loyalty363
Happy employees, happy customers, high profits?366
31.Declining UK customer service standards372
Methodology373
Customer service: business fashion or worthwhile investment?374
Benchmarking best practice customer service376
UK companies are sitting on a customer service time bomb378
The effects of poor service380
Conclusion381
32.Governance and executive sponsorship in CRM programmes384
Introduction384
Programme governance386
The historic view of organizations and change390
The process and style of change390
The challenge of change391
The rise of people, or stakeholder, power392
A range of roles and types of leadership393
The executive sponsor role: director, scriptwriter and producer394
Executive sponsorship in the initial phase394
Achieving commitment via 'symbolic action': the part-time acting role395
Conclusions and implications for management396
33.Managing customers: challenges for the future398
Branding in an era of CRM398
Building loyalty and relationships into products400
CRM: just like the corner shop?402
A single vision of CRM, a single customer view?403
Segmentation, not stereotyping405
Competing for share of wallet406
Managing branch customers: the local view of CRM407
Know your bad customer: a new set of requirements409
Retailing: to R or not to R410
The magic of customer knowledge: dare we outsource it?411
Understanding the customer - instantly!413
The new call centre challenge415
E-marketing and multi-channel marketing: seamless or seamy?416
Service: the most common contact of all419
The unifying theme: know where you are and measure what you achieve421
Index423

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