What is a CRM value chain and why it matters?Schedule a Free Demo
We’ve often mentioned that simply getting CRM software isn’t enough to boost the performance of your company. To see actual results, you need to know how to use that CRM system, and how to optimize it for your specific needs. What this entails is developing a long-term CRM strategy and putting it into practice. To do that, you need to understand what the CRM value chain is and how it impacts your business.
What is the CRM value chain?
The CRM value chain is a five-step representation of developing a CRM strategy. By going through it you will outline what your customers are like, how to engage them, and how to keep them connected to your brand. When set up properly, it will allow you to get the most out of the customer care software for movers. And it will help you manage your customers with surprising ease. While there are different ways to outline a CRM value chain, we feel that the following five links are all that is necessary to understand for a moving company.
Customer portfolio analysis
This link represents the analysis of your customer base. By performing it, you will outline which customers are worth engaging with, and which are dead-ends. While it may seem that a moving company should cater to everyone, this is simply not the case. Yes, you want to provide a wide array of services. But, even top-notch companies need to outline a target demographic. By doing so, you can look to focus your marketing and see it yield results. This is why customer portfolio analysis is such an important step.
The second link represents the process of detailing who your customers are. This entails:
- Customer identity;
- Customer profile;
- History of prior services;
- Customer requirements;
- Expectations (both yours and from customers);
- Customer preferences.
As a moving company manager, it is important to understand that your goal is to build relationships with your customers. After all, that is why you are paying for moving company client relationship management software. The information you’ve gathered so far should provide you with enough knowledge to see where a relationship can be built. Within the moving industry, word-of-mouth marketing is one of the best types of marketing. Therefore, you shouldn’t see your customers only as customers but also as ways to develop a network and boost your brand presence.
Value proposition development
In order to start a relationship with a customer is it important to offer them something that they’ll actually want. This is why previous steps were so important in developing the CRM value chain. If your customer base is largely made out of elderly people, it doesn’t make much sense to offer student moving. Your goal should be to outline what the customer’s needs will be. And then see that you make a thought-out, well-timed proposition. You ought to manage not only their needs but also their requirements and expectations.
Customer lifecycle management
The lifecycle of a customer is their entire interaction with your brand. From being a potential customer to being a brand advocate. In order for them to go through this lifecycle, it is important that you outline each step, and that you understand their point of view. Moving companies tend to have similar customer lifecycles. Therefore, it shouldn’t be too difficult for you to research them and ensure that yours is up to speed. Understand that in order to analyze each step of the lifecycle, you need to put it into writing. That way, if there is a problem, you will be able to address it.
Why it matters
So, why should you go through the trouble of setting up a CRM value chain? Surely you can tackle the basic needs of customer management with a quick guide and with some help. Well, while it is possible for you to tackle customers, you really ought to consider the long-term benefits of using a CRM system. A value chain not only allows you to set up this system but also improves it.
A properly set up CRM system will allow you to find customers. More importantly, it will enable you to set up your brand presence so that customers find you. A CRM system is invaluable when it comes to moving company leads management. Through it, you can outline what your customers are like (Customer Portfolio Analysis and Customer Intimacy). And you can look to efficiently guide your customers to your services, and cater to their needs (Value proposition and Customer lifecycle management). Ideally, your CRM should be the crux of both your sales and marketing.
The second reason why having a value chain is important is that it allows you to reflect on your decisions and make improvements. Even with top-notch preparations and ample research, there is no guarantee that you will strike oil with your marketing. You may miss your mark, or a completely different target audience may become interested in your brand. In order to not lose revenue, it is important that you are aware of these changes and that you address them in a reasonable time frame. Fortunately, this is precisely what your CRM system will provide. By outlining a value chain you will be able to track performance and make changes when need be.
When you come down to it, the necessity of using a CRM system as a moving company should be obvious. Without it, you can hardly hope to compete with other companies. And seeing the ongoing trends in marketing, you will have a hard time engaging your audience if you don’t cater to them individually. It should also be obvious that you cannot make the most out of your CRM without a value chain. After all, a CRM is a complex system that requires proper use. So, the sooner you create a value chain, the better.