Is it Strategic?
A CRM program contains complicated business and technology issues. Though, they require significant investments of time and money. Adapting a CRM tool does not make any change in small business’s performance. A company has to understand their goal. They has to clear about till what extinct they are related to the customer. If the target is not truly strategic than CRM system fails to the business. According to Bob Iger, Walt Disney Co.’s president and COO – year 2000 was peak year in terms of revenue of $43.2 million but after 2001 terrorist attacks. Revenue of Walt Disney goes down significantly till year 2003. Iger blamed the slow performance on lower hotel occupancy rates and a decline in attendance. Disney constantly decreases their tickets prices but still people not visit to the theme parks. Management has decide to take risky chance and introduced the CRM system using IT technology to reinvent the customer experience and ease crowding to all over the parks. Company’s main goal was to improve services for visitors by giving more personalized environment.
Do we need perfect data?
Customer Relationship Management (CRM) grows in the past decade to reflect the central role of the customer for the strategic positioning of a company. CRM takes a holistic view over customers because one of the key issues is to understand the behaviour of customers, which comes to know from real-time information. In any customer relationship management systems having ability to deliver real-time information to give marketers, salespeople and managers a clear picture of what’s happening in the market at any particular moment. For getting real-time information, a system requires data integration. Data integration is series of steps, each one critical to achieve a technical environment that can support the CRM efforts. Walt Disney applies the same strategy to gathering the perfect data. They named ‘Disney’s new customer experience strategy’, the company’s...
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