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CRMIT Solutions is a leader in transforming businesses with cloud based Customer Experience (CX) solutions on sales, service, marketing & social cloud. Recognized amongst CIOReveiw’s "20 Most Promising Cloud Computing Companies”


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How to Improve Your Customer Experience by Tracking and Measuring Key Goals ?

Customer satisfactionCustomer Experience is the customer’s experience of your relationship with the product that is owned by the customer. CX is a noun.

Of course CX is the essence of commerce. Absent CX, there is neither a maker nor a customer in the picture. CX is one’s competitive differentiator in the market. Corporate performance in the market is therefore a function of CX. For the leading businesses the stock price in the capital market is the main measure of their CX. How might a CEO connect the KPI of the stock price to executive KPIs? This of course has as many answers as there are ways of organizing the business. Processes, functions, laws, physics are some of the organisational factors with which most firms multiplex their talents today.

Consistent Customer Experince across multichannel

Whether one has a simple organization or a complex one, CX begins when we begin to think of a prospect and ends when the customer has stopped his commerce with us. So regardless of how we might have organized ourselves to interface with the market, our CX KPIs have to encompass the length and breadth of the enterprise. This is rather easier done than said as technical factors such as processes, functions, laws and physics are every bit defined and measurable. But isn’t there a secret sauce to the CX thing, which the talented talents bring to the table in the great businesses? There isn’t. CX is the customer’s experience of your relationship with the product that is being sold by you and being bought by the customer. CX is practice, management, tangible work. CX is what makes a business great. Your enterprise strategy states what CX is and isn’t in your enterprise.

If your enterprise is comprised of, say, merely the marketing, sales and service functions (as might be the case for a commodity retailer, a reseller, etc.) the CX and its KPIs should be quite straightforward. The marketer’s customer experience, for example, is the prospect’s experience of the marketer’s relationship with the marketing monologues and dialogues being purchased by the consumer in exchange for the time and equivalents paid to the marketer by the consumer. If for example marketer’s scope of business included marketing to existing customers, partners and other stakeholders around the enterprise then the marketer’s customer experience is the experience by each of them of the marketer’s relationship with the marketing operations (content, contexts and conduits) that are offered by the marketer to the ‘target’ in exchange for time, information, trust, money and other payments by the target. Examples of CX KPIs for this marketer are metrics such as individual and aggregate rates of correspondence (email replies, multi-level click throughs, social connections), volumes and refreshes of abstract and personalised content, time spends and depths of voluntary information received from the targets, and the like.

Similarly the salesperson’s customer experience is the prospect’s experience of the salesperson’s relationship with the sales’ process being purchased by the consumer in exchange for the participation, work, time, energy, knowledge and equivalents paid to the salesperson by the consumer. The CX KPIs for the salesperson and similarly for the persons in the service function can be defined. In our story the three functions organise themselves with clear handovers. As their individual KPIs are common to the consumer, rather than the enterprise or themselves or their handovers or other consumer-irrelevant externals, the corporate performance of this enterprise is attributable and manageable at the individual functions.

There are several opportunities for excellent CX in the course of business. A maker makes several Products in the course of commerce even where its catalog may have a single unit of a single item available to sell. A customer purchases several Products in the course of commerce even where she plans to buy a single unit of a single item. Every commerce is a two-way, two-party affair. Whereas in times of insulated impoverished economy the supplier or producer might have been the focus of management for mutually profitable commerce the era of a globalized digitalized services economy the management for mutually profitable commerce requires a focus on the consumer.

About CRMIT Solutions:

CRMIT Solutions is a leader in transforming businesses with cloud based Customer Experience (CX) solutions on sales, service, marketing & social cloud.

Testimony to Customer Excellence
CRMIT Solutions is committed to provide customers with the best service in the industry. Everything we do – every order, every delivery, every service, every offering – centers on the satisfaction of our customers, and making them more efficient at what they do.


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Oracle Cloud Marketplace, an Innovation Ecosystem for Partners and Customers

Oracle_Cloud_Marketplace

Oracle has one of the largest partner communities in the technology space. Thousands of partners are reselling, implementing, integration and building products for various Oracle business solutions.

CRMIT has worked closely with number of Oracle CX products and we have built many applications in our CRM++ umbrella, which are now being used by thousands of cloud users. For example, our CRM++ Email Workbench is used by service and sales organizations to centralize all customer communications, our CRM++ Self Service Portal is used by organizations who want to provide the capability to their customers to look for information and raise issues in web channel, our CRM++ mCRM solution is used to implement various mobile specific use cases of our customers.

While these products are extremely useful to our clients, the recent introduction of Oracle Cloud Marketplace has made it a breeze for CRMIT to deploy these solutions, and for customers to search, find, compare, purchase and use.

Oracle Marketplace is an unified environment where customers of Oracle CX solutions can register, login, browse resources, browse partners and browse applications. They can even search or browse applications using categories such as Sales, Service, Marketing, Social etc.

Once the application selection is made, users can click on the apps to read more about them. If there are any questions, they can discuss or raise a question to the developer. Existing customers of these applications can rate them which would help others to decide.

Recently, Oracle introduced the capability to directly purchase the application from the Marketplace. Means, if you have an Oracle CX solution, you can purchase applications in one click and they will be deployed in Oracle’s own secure cloud. An intuitive admin interface provides ways for customers to set up their applications and they can start running them quickly.

This is a great opportunity for Oracle Partners who build Oracle Cloud CX based solutions. They can reach out to thousands of Cloud CX customers by listing their applications in the Marketplace. Oracle takes care of deployment, payment and the infrastructure aspects.

For the customers too, it is a great option. As this entire solution works on social principles, the best applications will always show on top and customers have the option to discuss, decide and purchase from one place. Their payment process will also be smooth as they are existing Oracle Customers and they would be continuing the same with few additional charges for new features via purchased applications.

To summarize, we believe Oracle Cloud Marketplace will transform the way business applications are publicized, validated, compared, bought and used. Great days ahead!

About CRMIT Solutions:

CRMIT Solutions is a leader in transforming businesses with cloud based Customer Experience (CX) solutions on sales, service, marketing & social cloud.

Cloud Service demands encouraged CRMIT Solutions to publish CX solutions on Oracle Cloud Marketplace. The applications available cover a broad range of CX functions from web assisted services and telephony solutions, to more complex services such as implementation, user adoption, and data management, marketing automation, social relationship and testing.

“We see customer demands go to the cloud. We are seeing more & more customers move rapidly to the cloud. They want to buy applications, platforms and infrastructure in the cloud. Oracle has led the way – the only ones to provide every layer of the cloud technology stack in a single, integrated cloud. This has helped partners leverage the latest in cloud technologies to grow their businesses. The Oracle Cloud Marketplace enables partners to quickly and easily develop, integrate, publish, and monetize their applications.  We are glad to publish a range of Customer Experience applications & services on the Cloud Marketplace, “ said Vinod Reddy, Founder and CEO, CRMIT Solutions.

To view CRMIT’s CX Applications on Oracle Cloud Marketplace, please refer : Oracle Cloud Marketplace

 

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Transforming the Digital Customer Experience for High-Tech Companies

 

Digital Customer Experience for High-Tech Companies

High-Tech companies should be the leader in transforming the user’s experience in the digital world

High-Tech companies are the front runners who always trying to create innovative products, services/ softwares, provide a platform to enhance and enrich human’s life by connecting men and machines. But there is a big white space for these companies in making their products more user friendly, easy to use for the general customers. Steve Jobs’ vision of computers to every household is only real because of its usability and ability to connect and share the application usage.

A consumer should be able to use the high tech product/ services without any handbook – that’s the most expected – after all no one taught anyone how to use Facebook or Twitter or an iPod. When there is a need of demonstration of how the product works, it has to be conveyed in a way or means that is closest to everyone and easily understandable. A simple 3 minute video can do wonders than a product guide of 100 pages. Visual medium is the powerful communication to enrich user engagement with the most desirable proven story telling way (as long as it is not too elongated or boring).

Engage consumers through gamification

Reference – Betaout.com

Gamification is one another way in keeping the user engaged and it should be used in a more intuitive and innovative way to create a difference. They shall build an app which has all menu of videos that provides the information on how to use or troubleshoot the product.

Real results of gamification

Reference – Gigya Implementations

If High-Tech companies adopt and find innovative way of connecting with users, the experience shall always be considered as benchmark for other industry solution providers which ultimately drive the user experience to the next level.

About CRMIT Solutions:

CRMIT Solutions is a leader in transforming businesses with cloud based Customer Experience (CX) solutions on sales, service, marketing & social cloud.

We are committed to provide customers with the best service in the industry. Everything we do – every order, every delivery, every service, every offering – centers on the satisfaction of our customers, and making them more efficient at what they do.

Testimony to Customer Excellence

Inputs from

Suresh Ponniah
Principal Business Consultant –Industry CRM & CX Solutions.
CRMIT Solutions


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‘Customer Experience’ – Is it only for B2C?

360 degree view_of_customer_data

The stereotype notion that has emerged in the industry is that Customer Experience or ‘CX’ is only meant for B2C businesses and consumers. I cannot disagree more! The problem is, social engagement or social monitoring of consumers or customers is often mistakenly attributed to CX. Social experience of a sales person or the end consumer is nothing more than a medium of providing customer experience. The B2B story of Customer experience, even the partially defined bit, is not clearly understood by many.

People familiar with the traditional definition of CX, will understand that a great experience can be achieved at any point during the customer’s lifecycle or interaction with your organization and/or people.

“When you interact with a business customer or an organization; you still interact with an Individual or a contact representing your customer. Relationship building is a two people task”

Some questions (not limited to) and requests raised by my wholesale banking customers are: Having worked extensively with B2B Financial Services customers, I can assure you that Innovation in customer experience can be delivered to your Corporate and Institutional customers.

  • ‘Want all information about the customer: History, strategy, interaction, products sold, competitor portfolio, in one place’
  • ‘Can my Relationship Managers cross-sell more? Can you provide product information suitable for customer’s needs?’
  • ‘Executives need analytics on the move. Nobody has the time to login to a CRM application. Can important reports be provided on a Tablet?’
  • ‘More than one sales or product person work on an opportunity. They interact with Relationship Managers, Industry heads and external agencies to close or win opportunities’

So how should one address these requirements? Let’s start with segregating the processes that influence the customer directly from those that influence your salesforce who in turn deal with customers.

Customer Relationship Management

The above diagram covers:

1] How well the decision makers are aware of their opportunities?

2] Relationship manager is the face of the company when they interact with corporate contacts. The second question to be addressed is how equipped is your relationship manager to influence the customers?

Strategic Account Planning

Strategic Account Planning highlighted below addresses the first question. In a wholesale banking space, each customer is unique and has unique needs. It is imperative to have meaningful information of the client available, for decisions makers to understand the intent and take informed decisions.

Client Life Cycle Management

A strategic Account Plan of your Institutional client at the fingertips, with information on deal history, Available Wallet and Competitor share not only gives your RM an understanding of customer’s intent,  but also puts him/her in an advantageous position to cross sell relevant products & take a larger wallet share”

Credit officers and Auditors may need to share documentation related to approvals and have collaterals in place. It is possible that you need to interact with specialists outside your organization or even customer contacts.*Collaboration among teams is another important requirement to close B2B financial deals. Example: A Debt Capital Market, Loans and Syndications Opportunity for a Telecom Giant is so big and complex that it requires an involvement of more than two teams at times to win the deal. These deals could require Industry specialists, Relationship Managers, Product experts, your salesforce or even Sr. Executives at times to work together through the sales cycle.

In a banking space such requirements becomes trickier because of the security and visibility restrictions. Such high value deals cannot be shared openly! So a perfect experience would be to share limited information with others (in a Facebook or LinkedIn like manner?), while the owner of the opportunity gets a complete visibility of all interactions.

Oracle Social Network (OSN) is one such application that allows you to do so. While there are other similar applications available in market, OSN comes integrated with Sales cloud and is easily configurable with Oracle CRM On Demand. OSN could be used as a standalone application as well and allows users to easily share documents.

Oracle Social Network Foundations

Mobility

Mobility has changed the way business is done. Executives demand meaningful reports on the fly.  Monthly meetings have been replaced with daily stand-ups.  More importantly, they want to be self-sufficient in tweaking the reports to gather more and specific information out of the collection of data.Traditionally, pre-built reports were used to present a logical set of data. But this is not enough anymore. Especially with a spurt of analytics tools such as QlikView, Tableau or Roam BI, the expectations from business intelligence is completely different.

Oracle has invested significantly in this space and has products which talk seamlessly to your legacy database and provide analytics on the move. Another integration which we @CRMIT have achieved is with ROAMBI and Oracle Sales Cloud. The results – Roam BI transforms any data into simple, meaningful and intuitive experience which could be accessed on your mobiles or tablets.

Integration with Oracle Sales Cloud

“Managers have easy to understand yet powerful information accessible on the move. A simple and intuitive interface can change the perception of understanding data. Presenting it to a client or Executive is an even better experience”

Now let’s discuss about how a bank can help its relationship manager and improve their customer’s experience. While all the above points do directly or indirectly create great CX, Mobility is something that would directly impact your customer.  Wealth management executives and relationship managers are consultants for your client. A bank will be able to get the customer’s potential business only when they are able to advice the customer on the right investments.

Strategic Account Planning helps in understanding the client’s current state, future need analysis and business objectives. But many a times this information is not sufficient and what client’s need is up to date market research data and advice.

This is a different ball game altogether.  Knowledge cannot be replaced with any levels of service and a well-informed consultant is more likely to give better experience than someone who only gathers requirements. Hence, infusing knowledge management capabilities within your CRM application and equipping your salesforce with the recent most accurate information is the need of the hour.

Knowledge Management

Knowledge Management can be split into two (for B2B banking): 1] Internal organization – Product portfolio, Investment trend analysis, Customer Portfolio, Competitor Information 2] External Market – Investment Opportunities, Capital Market  Analysis, Risk Assessments. To have these details require significant research. Also, the challenge is the relevance of the research could change from customer to customer.

Moreover, as portfolios expand and regulatory requirements grow complex, managing is increasingly difficult and costly. Fortunately, CRM applications can now be extended to infuse research information from within as well as outside the organization.

Oracle Knowledge Solutions is one such extension (or standalone) application. It not only looks for information within the organization but, if configured, also searches outside the scope of your organization to stitch together meaningful information. All of this, using a natural language search algorithm.

“Enabling your CRM application with Knowledge Management capabilities not only allows your salesforce to learn continuously but also allows your client facing team to answer contextually, accurately and intelligently.  Nothing builds a better loyalty than a sound advice”

Another capability (and an interesting one) that has a direct impact on your customer, is being aware of their recent events such as an annual celebration or a new product launch or even a job change.

*Going Social is the answer! Get personal, congratulate on a new credential or promotion. These are basic human instincts. Nothing makes a person happier than knowing you care. This is the space where a B2B CX overlaps with B2C.

From a previous research done on this subject, some of the business challenges that could be addressed by infusing social media with your CRM are highlighted below:

Social media integration with your CRM

The capability we built allows a two way sync between your CRM contacts and LinkedIn Connections/Followers (with security concerns addressed ) These features are now available out of the box in few products and as extensions in many. Of course, what is important is how well your salesforce uses this data, but equipping them with information through your CRM is the first step!

To conclude, I had immediately dismiss a conversation which hints that customer experience is only for B2C. Relationship building, especially in context of institutional and corporate clients, is still about knowing an individual and interacting with an individual. Great customer experience can be achieved at any touch point of your organization. The only question you should ask is how well have you equipped your employees to deliver this experience?

About CRMIT Solutions

CRMIT Solutions is a leader in transforming businesses with cloud based Customer Experience (CX) solutions on sales, service, marketing & social cloud.

We are committed to provide customers with the best service in the industry. Everything we do – every order, every delivery, every service, every offering – centers on the satisfaction of our customers, and making them more efficient at what they do.

Testimony to Customer Excellence

CRMIT Solution is the Oracle specialized partner for financial services, which means Oracle recognizes CRMIT Solutions for Expertise in Providing Exceptional Business Solutions within the Financial Services Industry.

CRMIT’s Cloud CRM based financial solutions are comprehensive solutions for 360 degree customer view,Oracle_Specialized Partner for financial_services deal management, mortgage expansion, detecting risk, and enhancing customer relationships.

CRMIT Solutions has worked on end-to-end Cloud CRM solutions designed to specifically address the unique requirements of financial institutions including corporate banking, retail and wealth management. The solution, which has been implemented at financial institutions, is enabling those institutions to reduce risk, increase customer acquisition, improve customer service, develop and manage more effective marketing programs, enhance sales productivity throughout the consumer sales cycle and provide better management insight.

“We are very proud to have achieved Specialization for Financial Services and this can help to enhance our already long-term and successful relationship with Oracle. This accreditation is a testimony to our in-depth knowledge and expertise in Financial Services which has indeed supported our clients achieve improved financial performance and customer satisfaction across various channels”  said K V Padmanabha Rao, Regional Director, CRMIT Solutions.

Inputs from
Pratik Bajaj
Principal Business Consultant –Industry CRM & CX Solutions.

CRMIT Solutions


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Modern Customer Service for Life Sciences

 

KeepCalm_BreakAllRules

Science is bad business. The ends never meet, and the people are rarely on your side. Life science is possibly the worst of them all!

The life of Life Sciences is riddled with externalities of every geo, bio and demo graphic. Sometimes you just hope Gaia made things easier but that’s really asking for the moon. The world’s habits die hard (thank god, they don’t live forever). The only hope then, for a business in the Life Sciences, is to make the company a habit. Because sales is dead.

A Life Science business goes to market with its knowledge of habits. Our service, diagnosis, understanding, is founded in the exceptions. In the process we create, delete and refresh habits, in ourselves, in our clients, in our partners and in our competitors. Our sales come alive through our marketing and service.

The marketing of Life Science is a habit in itself. It consistently and persistently, across all the channels (the digital ones and the physical ones) of outreach, displays the habits of the business and the habits of the solutions being offered to the consumer.

For example a pharma company might display its sciences and technology, a hospice might showcase its therapeutic regimen and a physician would display his habits of case research. The consistent, clear and undistracted display at every opportune moment of outreach requires one to be conversant with all the information and communication technologies that are available to and purchased by our customers today. Leading practitioners make a habit of omnichannel outreach. Exceptional practitioners feed their omnichannel marketing off the service.

The service operations in Life sciences is about knowledge bases, two-ways. The leading practitioners are omnichannel responsive to the consumer’s questions and needs for information and knowledge. The exceptional practitioners on the other hand are omnichannel proactive and correspondent with the customer to reach the higher levels of information and knowledge bases on both sides.

Omnichannel correspondent capability is a tough nut to crack. The road-map to exceptional customer service starts with deleting the habit of a separate sales force and legacy definitions of content. The capability develops as one progresses from a habit of unified marketing and services in siloed channels to that of crossing over channels and then to combining all the channels.

The Oracle Marketing Cloud is a world-class theatre for digital marketing science and marketing operations. The Oracle Service Cloud is a platform for correspondence with the customer, for the service and marketing functions. The Oracle Fusion Applications and Middleware on Oracle Engineered Systems provide capabilities to breed omniscient habits of marketing and service across the Life Science enterprise.

About CRMIT Solutions:

CRMIT Solutions is a leader in transforming businesses with cloud based Customer Experience (CX) solutions on sales, service, marketing & social cloud.

We are committed to provide customers with the best service in the industry. Everything we do – every order, every delivery, every service, every offering – centers on the satisfaction of our customers, and making them more efficient at what they do.

Testimony to Customer Excellence


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Influencing Consumer Behavior with Retail and Consumer Insights

Instacart represents an evolutionary path for the retail industry. They do a good job bridging the two worlds in retail. Crowdsourcing is a dead end though. The technological path for retail is going back to its roots.

Retail solves several problems for the consumer. It resolves time, finance, space and information problems of each customer to various individual extents. Industrial retail traditionally has been inward-facing, outbound oriented, aiming to industrialize the retail consumer. The industrialized consumer, being left with little choice, has taken it in stride.

The non-industrial retail, the old heavy-duty retail, is coming back thanks to the digital age. Good old retail is outward-facing, inbound oriented and omnichannel by nature. It constantly defines its neighbourhood and computes its fitment to that neighbourhood. It is expensive and hard work, in return for its high rewards. The new old (let’s call it neo) retail requires more expense and harder work, and its returns are higher still.

The neo retail influences consumer behaviour by asking the customer of their insides. And taking it in stride. The technical ways and means to ask, observe, capture and learn the individual customer’s needs are available at low costs today. Operating the enterprise upon that data is just as viable.

For the neo retailer the work of analyses and optimizations is outside the shop than inside it. The neo retailer makes a habit of keeping high prices and earning them. Walmart and Neiman Marcus have more in common than meets the eye.

About CRMIT Solutions:

CRMIT Solutions is a leader in transforming businesses with cloud based Customer Experience (CX) solutions on sales, service, marketing & social cloud.

We are committed to provide customers with the best service in the industry. Everything we do – every order, every delivery, every service, every offering – centers on the satisfaction of our customers, and making them more efficient at what they do.

Testimony to Customer Excellence


Leave a comment

Delivering an Extended Customer View to Transform Financial Services Engagement

Transform Financial Services Engagement with 360 degree Customer View

Of this there should be no question Financial services is intricate work. The quants are just riding the waves.

Neither at the macro nor at the micro economy is there a dearth of demand for or supply of finance, money and cash. In the financial business to know your customer is to know, in real time, his high sea of relationships and events at those related parties.

To exploit the energy and depth of the high seas, day or night, all one needs is an understanding of water, and earth. Not to be too far out but an additional understanding of the moon and the sun was never harmful – certainly not in the days past nor most definitely in the present age of insured spacecraft! Now all of this of course used to be easier said than done, for millennia, until big data came along. Practically speaking, it is fast big data that we are sloshing about.

The traditional regulators of customer engagement such as assets, liabilities and cash flows help manage an economy that waves cash and money, in your face. Our economy, developed and developing, has long left those shores. It sails on finance and trust today. The economy cannot afford any but those financial businesses that can ply and fish the high seas.

A spacious 360 degree view is neither desirable nor practical today. A timely view is needed instead. Most relationships and events that impact the customer’s finances are unpredictable today. The smart financial business readies itself with the capability and capacity to decide and execute on data flowing in. The customer’s view becomes our view. By the same token our views become the customers’ views. These are big time data matters.

How do we respond to events such as these:

  • A cloud burst brings the customer’s supply trucks to a dead halt on the mountain highway and the customer can avoid losses if she could use the skies within the next two hours would you rather she deal with you or the insurer?
  • The employee has been eyeing the Renault for some months now and gets a pay hike today; are you able to send him a Renault tomorrow?
  • How do we educate each of our customers to think, of us and of them, in real and unreal times?

We need views that extend deep into the relationships, events and data streams, happening in our customer’s and our life, for profitable engagements.

A Hadoop, a twitter stream, an Oracle Engineered System and a mobile app for the senior bankers at the Educational Loans division is a viable start!

About CRMIT Solutions:

Oracle_Specialized Partner for financial_servicesCRMIT Solution is the Oracle specialized partner for financial services, which means Oracle recognizes CRMIT Solutions for Expertise in Providing Exceptional Business Solutions within the Financial Services Industry.

CRMIT’s Cloud CRM based financial solutions are comprehensive solutions for 360 degree customer view, deal management, mortgage expansion, detecting risk, and enhancing customer relationships.

CRMIT Solutions have worked on end-to-end Cloud CRM solutions designed to specifically address the unique requirements of financial institutions including corporate banking, retail and wealth management. The solution, which has been implemented at financial institutions, is enabling those institutions to reduce risk, increase customer acquisition, improve customer service, develop and manage more effective marketing programs, enhance sales productivity throughout the consumer sales cycle and provide better management insight.

“We are very proud to have achieved Specialization for Financial Services and this can help to enhance our already long-term and successful relationship with Oracle. This accreditation is a testimony to our in-depth knowledge and expertise in Financial Services which has indeed supported our clients achieve improved financial performance and customer satisfaction across various channels”  said K V Padmanabha Rao, Regional Director, CRMIT Solutions.

We are committed to provide customers with the best service in the industry. Everything we do – every order, every delivery, every service, every offering – centers on the satisfaction of our customers, and making them more efficient at what they do.

Testimony to Customer Excellence