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ECT News Community   »   CRM Buyer Talkback   »   Re: Transaction or Process?



Re: Transaction or Process?
Posted by: Denis Pombriant 2014-04-25 05:46:07
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After many years, I think I can boil down CRM to this: Vendors prepare for transactions but customers expect process. Of course, this demands elaboration and neither of these ideas is stationary. The desire for better processes evolves as customers and markets do, and transactions become more sophisticated as vendors play catch-up with their markets. You can also say that a transaction is simply the logical endpoint of a process, at least most of the time -- and yes, transactions don't always involve money.


Re: Transaction or Process?
Posted by: SusanObi 2014-04-29 10:11:53 In reply to: Denis Pombriant
You are correct in looking at process vs. transaction but the integration of CRM, ERP, shipping, order management, inventory and other systems can also provide subtle and blatant patterns and trends to get inside the problems of abandoned purchases on a site or browsing but not buying and other classic lost customers issues.

At ElegantJ BI, we find that the best use of business intelligence tools is to create and use objective metrics that will help the business to make more confident decisions about the things they need to change on their site(s) or in their customer interaction in order to attract and retain most customers and improve revenue. The more we know about our clients, the better we can serve them. But there is one more component to this and that is to use sensitivity and impact analysis to look, not only at what the customer wants but also at the price points or other factors that will affect our success when we make a change. A customer may really want a blue shirt in a particular style but we need to understand how a subtle change in price or display location in the store or on a site may affect a sale. Creating or changing a process, workflow or site navigation based on this kind of detailed understanding can make a real difference to a business.

Re: Transaction or Process?
Posted by: Maximizer CRM 2014-04-25 05:46:29 In reply to: Denis Pombriant
An interesting article. I think the lack of realisation around what is process and what is transaction is firmly rooted in a lack of appreciation of solid marketing and sales analytics.

Closed loop reporting and CRM integration with online systems, such as marketing automation, is wholly designed around process insight and performance enhancement, making it highly affordable to report on and automate the steps taken by a prospect in their sales journey.

Matt Ranger
Maximizer CRM
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