Focus, for the love of God, segment!
More and more customers are implementing CRM applications, platforms and/or even rolling out programs. The goals of the implementation vary from excellent customer experience to operational efficiency. However, there is one topic that is missed quite a lot: segmentation connected to service connected to CRM processes.
We all know the Pareto law: 80 % of your revenue comes from your top 20 customers. Although this rule is widely accepted, new segmentation models and business models allow you to segment on a much more granular level. We see a lot of our customers segmenting what the ideal customer is or should be. But what we do not see that often is a differentiation of the level of service they are providing. This of course is not that easily done. We all love our customers and want to make all our customers happy. But does it make sense to go the extra mile for everyone and would everyone be equally happy?
A natural reflex of every sales person, sales manager and marketing department should always be: what level of service does the customer require and how willing is he to pay for it. In many companies, people are already making that distinction. Well-known methods used are: Call deflection, Self Service, … This is a very nice beginning. But what we see often missed, is an alignment in the sales method versus the CRM processes for that specific segment. For instance, when you divide your customers into 3 categories: Platinum, Gold and Silver customers, you can and sometimes should differentiate your service towards those customers. The segments should be based on value-based customer insights. This means that for your top customers (for instance high potential and/or high revenue and margin), you can have lengthy processes within your CRM application, but for your silver customers, you should implement a less time intensive sales process. This can either be achieved via automated tools, like a customer portal where your silver customers can order your services and/or products online, lead nurturing programs where you call a prospect via a contact center whenever you know the lead is hot etc.
Making sure that the level of service you provide is in line with your CRM strategy and processes is key. It ascertains that your sales people aren’t confused and focus the correct amount of time on the right customer. It will even raise your adoption: your sales teams will be happy that they do not need to over document these type of opportunities, while your marketing department will be excited that their hot leads are indeed being followed up.
We know that this blog does not consist out of entirely new information. But we also know that these items are not always implemented and trust us: they should!!!