Of course, we are all connected in the online ecosystem, plugged into each other with social networking sites, search engines and blogs. The unprecedented scale at which we freely share information about ourselves has given rise to a new concern – are we are too connected? Do we really want people to know all about everything we’re doing all the time? We are connected economically, as we all learned too well during the economic meltdown. Seemingly unimportant defaulting mortgages in the US began piling up, and all at once, people began to realize the bad debt had crept into the whole system like a cancer - weakening the entire global economy; causing job losses from Detroit to Denmark. The environment connects us all – the volcano in Iceland reminded us of that too – one tiny place disrupted the whole world – stopping people, goods and money from making the journeys we’ve come to rely on for our survival.
Almost everyone now recognizes that the world is now, and forever Connected in an economic, environmental and social ecosystem. Then again, many of the corporations, regulators and businesses of the world, small and large… but mostly large, already knew this. Some of them abused the ecosystem for wealth and gain at the expense of everyone else. These companies and individuals – the Goldman Sachs, the Bernie Madoffs of the world - have been decidedly internally, individually motivated. They used the forces of regulations, legal manipulations and governments to create their profits -while the rest of the world was the unaware participant – duped into helping, and then left to clean up the mess.
To be blunt, this stinks! Nobody likes to be tricked, but the recent chaos has a bright side – people now understand that we have to overcome a crisis. We understand, at our roots, we have to build a solution. We have to reclaim our connected ecosystem and make it our own. We have to use the interconnected nature of the world and turn it into a tool to help all of us, not just a select few. We have shape the connected ecosystem into a Connected Market Space.
A business today, in any sector, exists for the purpose of rapid response – transmitting candid, accurate information to all sides - not just inside the organization. This is more commonly known as the triple bottom line - people, planet, profit, or the "three pillars". The triple bottom line is about being truly, a custodian of this planet - a business seeking to profit, should be finding positive connections and fulfilling a purpose. If you are in any kind of business you will affect other people – so the responsible and smart thing to do is to connect to the world in a positive way.
It’s not hard create a Connected Market Space and use the ecosystem for good. The Connected Market Space is, at its meaning, the connection of any enterprise, to any market, with accurate, open and honest information. How do you know you’re really connected? It’s not just about advertising and using Twitter – it’s about making meaningful connections that make the world a better, more useful place. When is a business using its power for good? A business in the Connected Market Space demonstrates that: Clients and business know more about each other
- Clients and business can trust each other
- Each party has accurate information
- Everyone can carry on a conversation
- Everyone can complete a transaction safely
It makes no sense, for any business, to invest in technology based on a comparison of features. Today, the basic features of CRM are well-defined - any CRM will provide the basics of contact relationship management.
CRM has been around for more than a decade. It was originally designed as a tool to enable businesses to share information between sales and other various departments that dealt with customers. Those features are clear.
The next iterations of CRM were designed to better track, manage and empower the sales force - hence the brand of a CRM by that name. Again, no real "dream" here.
With internal information and sales force automation handled, CRM companies continued to emerge. CRM platforms morphed and features upon features were added. This is where so many stand today – feature overloaded CRMs that are still focused on just adding more features as differentiators. But bells and whistles are not the reason you are looking for a CRM solution.
CRM companies compete by issuing white papers that highlight things like "The 10 Things Your CRM Should Do". The problem with this focus is it's not about what your CRM does or how many features it has – it’s not even about how much you know about your customers. Any CRM will give you that.
Companies have lost focus on the single most important points by focusing on features! Connecting in the market to grow a more profitable business.
Today, your customers likely know more about your business and the market than you do. They are looking with unlimited information from your business - if they can find your business. Customers are often more connected than the companies that buy CRMs for a very simple reason.
While the business was busy with the software, the prospective customer was busy connecting to the market – becoming an informed buyer.
Wonder which company will earn that new business? Grow that market share?
It won’t be the company that is busy trying to manage the CRM. It will be the company that has taken the steps to get successfully connected in the market space.
CRM is a linear solution in a non-linear world. That is to say, there are searches, social networks, iPhones, and Tweets all "linked in" - woven together through a web of opportunity and information. This Connected Market Space is where your very contacts discover, uncover, and decide who to do business with.
Investing in any CRM without considering the much larger picture – by asking "how will we manage our Connected Market?" – is an exercise I call the "technology trap".
This is the losing proposition of technology where 95% of the market goes. Adding CRM technology without asking first, "How do our customers connect to the products and services we sell?", is like hoping there is a silver bullet – some magic the CRM will bring to the sales force and your firm. Well, hope is not a strategy in business.
When you ask the right questions of your market and your business goals, you’re likely to be far ahead of the pack.
Building a connection relationship solution becomes a market space that you can measure and grow. You’ll find the solution that your business needs to manage and acquire customers becomes much clearer than any feature comparison CRMs will provide.
This reality is due to the fact that the solutions designed for today's market extend well beyond traditional CRM.
To be on track and to be discovered by outside factors, the business must connect to – rather than employ internal CRM tools – the connections needed outside to bring your customers and prospects in close alignment.
To effectively install the right solutions, including your CRM needs, look first at your core objectives and how customers connect in your market.
When you do that properly, you will ensure that your investment will pay off with more business and customers.
To get connected and get results – if you’re thinking about CRM – evaluate your business goals with the Free BIPED® "Business in Process Enterprise Design" envisioner.
Based on 10 years of success, BIPED will ensure that you will avoid the CRM feature trap and help get you connected with your market.
Intuitively you already know that the right solutions and connections will guarantee your investment pay off. Ensure that you get your return on investment - and avoid the technology trap. Leave that to the competition.