BEST OF ECT NEWS
How AI Can Increase Customer Retention
July 30, 2023
Customer attrition and churn are not new problems. Anyone who has spent time in the sales world has heard statistics around the cost of acquiring a new customer. It can be five to 25 times more expensive to acquire a new customer than to retain an existing one. More importantly, improving your customer retention by just 5 percent can increase profits by 25-95 percent, depending on your industry and company size. [More...]
INSIGHTS
Salesforce Ups Its Marketing Game
July 21, 2023
Recent research shows that employees are well aligned with the directions and goals of their companies, and that they are competently led and respect their bosses; but the technologies they use leave a lot to be desired. This includes CRM, and too often the functionality that their currently installed CRM doesn't offer. Consequently, the changes Salesforce just introduced in its Marketing Cloud could not have been more timely. [More...]
EXPERT ADVICE
Refocus Your Sales Strategy on the Phone Call
July 20, 2023
Getting a prospect on the line and talking to them directly matters. It's the ability to deliver the pitch with the right content, cadence, and care for your future clients' needs that makes a voice call so effective. It's not just salespeople who prefer a call -- 92 percent of all customer interactions happen over the phone. Simply put, that direct human connection creates the right environment to establish trust. [More...]
RESEARCH
Improving Company Performance
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A recent study found that businesses across North America are led well and staffed with people who are engaged in what they're doing. But technology is barely adequate -- and because of this, managers should devote their attention to improving systems whenever they think about how to improve overall company performance. [More...]
B2C Response Rates at SMBs Crushing Enterprises
July 6, 2023
A company's ability to answer customer questions and resolve problems has become as essential as product, quality, and price. When customers are ignored, or given the impression they are unimportant by slow response times, the consequences of lost business and a damaged reputation can be irreversible. A recent study found that many businesses fall short of providing timely customer service. [More...]
INSIGHTS
The Trail to the Platform
July 1, 2023
Some years ago, Marc Benioff told me he was not interested in developing back office apps that would compete with SAP and Oracle in the ERP and finance market. Many people, myself included, looked askance at that idea and wondered out loud how the company would continue to grow because, hey, there's front office and back office and nothing else right? Nope. [More...]
OPINION
Let's Rethink Our Relationship With CRM
June 24, 2023
If you search for "why CRM fails" you get over three million results. Analysts report that close to half of all CRM projects fail and about 40 percent of CRM software purchased goes unused -- because sales teams don't want to use software that makes them glorified data entry clerks and still doesn't "work." As a CRM industry veteran, this ongoing failure rate hits close to home, and in my experience is much higher. [More...]
INSIGHTS
Time to Beef Up Your Algorithms
June 18, 2023
Accuracy means getting the right answer. Precision is about getting the right answer time after time. In a CRM situation an algorithm that gets the right answer is accurate and nice (we got the deal!) but if the business process supported by CRM has a lot of returns or unhappy customers, it's not very precise. [More...]
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The WFH Model Is Changing Customer Service for Good
June 11, 2023
As the dust settled on what most have deemed the "new normal" of working from home, many industries -- including customer service -- rapidly shifted operations to be remote work-friendly. At the same time, call volumes increased exponentially: During the last few months, airlines saw a 199 percent increase in customer inquiries, while grocers saw a 39 percent increase. [More...]
Verint Automates Management of Return-to-Work Health Practices
June 10, 2023
Verint has announced new capabilities within its workforce management solution that automate compliance with CDC guidelines to reduce the risk of COVID-19 infection as employees transition back to the workplace. New workflows automatically create a comprehensive schedule that is prescriptive, while including traditional workforce management criteria such as skill level, channels and peak hours. [More...]
EXPERT ADVICE
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May 28, 2023
A pandemic, economic uncertainty and social distancing -- what a kerfuffle we are in. As marketing leaders, it's an incredibly difficult time to direct our teams. Yet, while we're all figuring out how to juggle emotions, families, dogs, toilet paper shortages, and a calendar full of conference calls, the revenue team has to press on in building pipeline and establishing predictable growth. 彗星加速器免费版ios
INSIGHTS
CRM's K-Wave
May 26, 2023
These are extraordinary times, in case you haven't noticed. One of my contentions these days is that CRM is penetrating society to a point that it is taking on an outsized role -- the "CRMification" of society. In economics we often see a disruptive innovation climb a ladder as it becomes something that society needs, as well as wants, until it becomes essential. [More...]
INSIGHTS
Work.com and the CRMification of Society
May 20, 2023
CRMification is the process by which the culture absorbs CRM technology, processes and techniques to achieve some kind of new utility for getting things done better, faster and cheaper. Today we should add safer too. Another way to state it is that CRM is a disruptive innovation in the culture. The next normal will have something to do with CRM. 彗星加速器节点
INSIGHTS
What's Going On With Oracle?
May 14, 2023
Oracle appears to be undergoing a kind of resurgence during the coronavirus crisis. Financial analysts are saying nice things about its ability to pay dividends even in tough times. Its technology, which always has been good, is seeing an interesting uptick. All of this is buffing the company's image after years of, yes-but responses from the market. [More...]
EXPERT ADVICE
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May 8, 2023
Customer service doesn't have to suffer while your company goes through a difficult transition. In fact, 78 percent of consumers said they stopped doing business with a company because of poor customer service. Now is the time to show your most valuable buyers how you'll keep them informed, updated and respected throughout this crisis by adapting your practices to the moment. [More...]
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