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What The Pandemic Taught Us about CRM: The 3 V’s. (Part 1)

By Scott Nelson | October 06, 2021 | 0 Comments

Customer Service and SupportCustomer ServiceCRM StrategyCRM Strategy and Customer Experience

It’s probably not hyperbole to say that the pandemic changed the World as we know it. From a CRM point of view, we saw some major areas of failure. In many cases, Ecommerce sites couldn’t take the strain. Call centers buckled. Sales organizations were caught flat footed switching to a virtual model from an in person one. And across the board, staffing has taken a major hit, So what did we learn from a CRM point of view?

I would submit that we learned what I will call the 3 V’s of CRM. These are attributes that we need to pay more attention to going forward if we don’t want to make the same mistakes with whatever new shocks that might come down the road.

The 3 V’s are Visibility, Velocity, and Versatility. For this blog posting I will take about Visibility. I will look at Velocity and Versatility in future posting.

Visibility. What do I mean by that? CRM makes a lot of promises. At it’s core, it says that we as Practitioners want to build a relationship; the R in CRM. But let’s face it; that just isn’t true. What we really want is to have rules of how we treat groups of customers, not individuals. Whether we define customers on profitability, or product usage, or psychographic segments, the reality is that we want to clump customers together. But that broke during the pandemic.

To see what I mean, look at mortgage lending. Many lending organizations found that traditionally profitable customers were suddenly having issues due to changes in job situations. They didn’t know how to adapt to that, so they treated them as the new category they had fallen into; delinquent customers, not the group they had been in, profitable customers. The reason, they couldn’t see the customer clearly, or what was going on in their lives. They couldn’t see what the longer term relationship looked like, that might have a big impact on the current situation.

In a nutshell, they needed better visibility into the customer, their journey, and the external factors. They needed to see the customer long term, not where they were today. They needed better clarity of sight. Going forward, we need to take that message to heart.

Next post will be on velocity. What happens when the speed of the world changes?

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