talking crm to your cfo
TRANSCRIPT
TALKING CRM TO Y OUR CFO
Presented by
W E L C O M E !
The CFO Agenda – Harnessing CRM to Drive Results
• CFO as Chief Empowerment Officer – Perceptions of CRM• Key Trends in Driving Value from CRM• Aligning Technology to Vision and Objectives• The Risk of Inaction and Common Pitfalls• Questions & Conclusion
Mario PompeoPartnerPractice Leader CFO AdvisoryCohnReznick LLP
Brian PowersDirector Business DevelopmentGrowthPlay
Tim EnrightManaging DirectorPractice Leader MSFT & CloudCohnReznick LLP
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CFO’s empower initiatives that
• Enable corporate strategy
• Create economic value
• Mitigate risk
C F O A S C H I E F E M P O W E R M E N T O F F I C E R
Business must communicate how CRM accelerates success to earn a seat at the table
Transform company from today’s results to tomorrow’s success
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C F O P E R C E P T I O N V S . R E A L I T Y
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CFO’s perception of CRM• Forecast reporting• Electronic Rolodex
Modern CRM Reality• Forecast reporting• Account, contact
opportunity management• Smarter Customer
Engagement• Drive customer experience• Intercompany collaboration• Marketing Automation
K E Y T R E N D S I N D R I V I N G V A L U E
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The CRM Land Grab
Analytics Improve Targeting1 2
CRM Integrated to Internet of Things
CRM Impacts Lead Scoring to Prioritize Marketing and Sales Focus
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Key CRM Trend Mario CFO Brian VP of Sales
1. CRM integrated to IoT
2. CRM for Social Engagement
3. CRM for Customer Targeting
4. CRM for Lead Scoring
L E A D I N G E D G E O R B L E E D I N G E D G E ?
LEADING
LEADING
LEADING
LEADING
BLEEDING
LEADING
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BLEEDING
LEADING
T E C H N O L O G Y T O A C H I E V E B U S I N E S S O B J E C T I V E S
Chief Executive Officer (CEO)Gain competitive advantage, increase profits.
• Can I achieve my goals with my current technology investments?
• Can I leverage the cloud to more efficiently support the business?
Chief Financial Officer (CFO)Plan for the future, manage financial assets.
• How profitable are my individual product lines?
• How profitable are we with specific customers?
• Are my assets protected?
Chief Information Officer (CIO)Increase operational efficiency, manage
information assets.
• Am I providing an innovative environment to create business advantage?
• Can my company’s systems quickly react to opportunities?
Chief Marketing Officer (CMO)Grow and retain customer base.
• How can I engage my customer and develop opportunities more efficiently?
• Are we targeting the right customers and markets?
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A L I G N I N G T E C H N O L O G Y T O V I S I O N A N D G O A L S
Business Vision & Goals
Technology
People & Process
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I N T E R N A L B U Y- I N I S C R I T I C A L T O S U C C E S S
• Enabling strategy requires change
• Companies typically resistant to change
• Change management that factors in people, process, and technology leads to increased adoption and commitment
of executives say silos within the organization and lack of senior management vision are the biggest hurdles to better customer service.
60%The Economist – Intelligence Unit Report
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T H E C O M M I T M E N T C U R V E
Efficiency and productivity gains are not realized on day one
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Gartner CRM Maturity Profile
T A K E A N H O N E S T L O O K I N T H E M I R R O R
Aware: An enterprise that exhibits few customer-centric capabilitiesDeveloping: An enterprise that has a rudimentary, loosely woven set of customer-centric capabilities in placePracticing: An enterprise that has implemented basic customer-centric capabilitiesOptimizing: An enterprise that has not only developed customer-centric capabilities, but has actively integrated them into its daily operationsLeading: An enterprise that has differentiated itself based on customer-centric capabilities and has simultaneously redefined those capabilities
T H E R I S K O F I N A C T I O N
While initial costs for CRM can be substantial – risk of inaction is being left at the starting gate.
• Competitive Disadvantage
• Lost customers / diminished market share
• Disorganized sales approach
• Inefficient sales and marketing efforts
• Poor visibility = poor decision making
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P I T F A L L S T O A V O I D W H E N S E L L I N G T H E C R M S T R A T E G Y
1. Aligning to last years corporate strategy
2. Selling your CFO on what matters to you
3. Not aware of your CFO’s pain points
4. Departmental blinders
5. Politics
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C A S E S T U D Y # 1 – D E F E N D T U R F A G A I N S T N E W C O M P E T I T O R
Major food service manufacturer, outdated business systems, with a new competitor entering the market.
CHALLENGE: In-ability to launch a nurture campaign, no budget.
OPPORTUNITY: Cloud implementation.
APPROACH: Cannot afford the status quo.
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C A S E S T U D Y # 2 – S O C I A L M E D I A S T O R MMajor consumer brand, outdated business systems, no social strategy.
CHALLENGE: Social media crisis hits company, lacks technology to firmly respond.
OPPORTUNITY: Create economic value with CRM implementation
APPROACH: pilot small implementation, demonstrate ROI -> obtain additional spend
58% of customer service teams view managing social media inquiries as their top challenge.
Forrester
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C A S E S T U D Y # 3 - D R I V I N G C O S T F R O M P R O P E R T Y M A N A G E M E N T
CFO property management company
CHALLENGE: sell internet of things solution that will save maintenance cost to BoD
OPPORTUNITY: demonstrate long-term benefits and company savings
APPROACH: pilot small implementation, demonstrate ROI -> obtain additional spend
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Tim EnrightManaging Director-MSFT/CloudTel: [email protected]
Mario PompeoPartner – CFO AdvisoryTel: [email protected]
Brian PowersGrowthPlayTel: [email protected]