Larry Caretsky, President of New Jersey-based Commence, (www.commence.com) noted in the current issue of Business Excellence, "Companies must find out what customers like and dislike about products and services by asking for feedback. It's imperative to maintain constant customer connections to build a meaningful profile of customers' attitudes and behaviors over time. This data is invaluable in pinpointing what can be done to add real value to the relationship."
Since 90 percent of revenue can be generated by only ten percent of existing customers, focusing on these customers guarantees a continued revenue stream, as well as creating advocates that will help attract a new customer base in a cost-effective manner.
According to Caretsky, "Smart industrial organizations gather several key data points during customer research, which all helps to define a CRM profile.
&bullHow clearly can customers articulate your value proposition?
&bullHow well do customers know products or services?
&bullWhat is the customers preferred method of purchasing products and services supplied?
&bullWho do customers consider to be the preferred supplier products and services?
&bullWhen do customers typically purchase products and services?
&bullWhy do customers typically purchase products and services?
&bullHow do customers use products and services?
&bullWho is the decision maker? Who else influences the purchase?
&bullHow do customers evaluate suppliers?
Commence offers industrial companies complete "Freedom of Choice" to select the solutions and platform that best meets the business requirements of manufacturers and distributors. The comprehensive CRM Industrial application suite is available for use on premise or on-demand as a hosted service. Industrial leaders often build departmental CRM solutions with the award winning Commence Industrial CRM Framework. These choices are why so many industrial companies choose Commence as the solution for managing customer relationships. All Commence Industrial solutions support mobile or wireless connectivity and integration to back-office accounting and ERP systems.
According to manufacturing journalist, Thomas R. Cutler, author of the article titled, "In the Know," Lean Industrial CRM is the fastest technology growth element in the manufacturing sector. Cutler asserts, "With up to ten years of continued process improvements on the plant floor, back office, and distribution operations, manufacturers have finally arrived at the front door of customer relationship management (CRM). Still engineering and operations focused, many senior manufacturing executives are strongly resistant and visibly uncomfortable in approaching lean CRM."
