Marketers Guide to CRM Technology_Diamond

Marketers Guide to CRM Technology_Diamond - insight The...

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The Chief Marketing Officer of a global health insurance company endorsed a $1 billion Customer Relationship Management (CRM) initiative. There were promises to integrate processes and systems for enrollment, eligibility, and claims processing so that customers would get one bill for a variety of services. Medical claims could be processed faster and more efficiently, which would engender customer loyalty. Customer service reps would have a single, unified view of members and thus they could provide personalized service. Members could enroll online, check the status of their claims and benefits, and choose from different health- plan offerings. The initiative sounded great. Unfortunately, serious problems emerged immediately after the company performed a mass migration of its 3.5 million members to the new technology platform. Members had trouble obtaining, confirming, and inquiring about coverage. Some members lost coverage entirely due to membership data problems. Member ID cards were issued with incorrect information. In less than a year, the insurer lost 6% of its healthcare membership. The Marketer’s Guide to Customer Relationship Management Technology By Jonathan Kletzel and John Rolston insight
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2 For more information contact: Jonathan Kletzel Partner, Enterprise Practice Jonathan.Kletzel@diamondconsultants.com What CMOs Need to Know Before Taking on a CRM Initiative Considering that more than half of Customer Relationship Management (CRM) implementations over the past decade have failed to meet expectations, 1 an executive must be crazy to jumpstart a CRM project, right? In our opinion, no. If anything, improving the customer’s experience is more important than ever before. Customers expect a sales and service experience tailored specifically to their needs and interests. And they expect a consistent experience whether they’re talking to a clerk at the store, a customer service rep at a call center, sending an inquiry to a company Web site, or shopping on-the-go with their mobile devices. Companies that don’t meet ever-increasing expectations will lose customers to competitors who provide a superior experience. CRM is about cultivating, managing, servicing, and enhancing the customer experience, delivering personalization, relevancy, and consistency across inbound and outbound customer interactions (See “Why CRM?” sidebar). It is a large endeavor and covers a broad spectrum of customer-facing functions (e.g., marketing, sales, service, You need a strong business case to justify the millions of dollars it can take to build a strong, long-lasting CRM Integrated Technology Platform. Here are the reasons why a company should look to invest in CRM. • Create a Tailored and Relevant Customer Experience
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This note was uploaded on 07/08/2011 for the course BM 501 taught by Professor Kop during the Spring '11 term at Bloomsburg.

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Marketers Guide to CRM Technology_Diamond - insight The...

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