The Merriam – Webster dictionary defines Magic as…
‘The use of means believed to have supernatural power over natural forces’
If we first substitute ‘means’ with ‘strategies, policies and technologies’ then ‘supernatural power’ with ‘purchasing influence’ and finally ‘natural forces’ with ‘prospects and customers’ leaving us with the modified definition:
‘The use of strategies, policies and technologies believed to have purchasing influence over prospects and customers’
In this definition, have we now found our ‘abracadabra’? Is this the Rosetta Stone required to decrypt the seemingly unintelligible? Perhaps…however this is the only definition that will allow me to acquiesce that CRM is magic.
To effectively develop and foster ongoing customer relationships, companies must utilize a knowledge-based CRM approach that focuses on understanding customer’s needs and preferences. This requires a holistic view of your customer data, analysis and profiling of customer segments and utilization of innovative tools and technology to deliver relevant marketing messages to key customer segments.
Simple, actionable, measurable and effective CRM strategies based on sound principles work ‘like magic’ to transport individuals along the relationship continuum from prospect to suspect to customer to advocate ultimately increasing ROI and improving the customer experience.
Oh yeah…one last thing, since we are bursting bubbles anyway…there is no tooth fairy either.