When we started to introduce our existing customers to Dynamics 365, the big question was ‘what’s so new?’
And here’s what we outlined.
Firstly, let’s look at the market Dynamics 365 has launched into.
- 52% of organizations now have confidence that cloud apps are as secure as on premise-based apps.
- The decision making for technology budget allocation is shifting from IT to Line of Business.
- Productivity is universally recognized as the key business driver for scale and technology is universally seen as the way to achieve it.
- Business approaches are evolving for the technological age. In every department, businesses are looking for ways to improve productivity, to increase customer service, to evolve product, to understand action and result.
Now, let’s consider what CRM has been doing really well.
First, let’s start by clarifying that all CRM systems are not created equally and finding the right one for you takes research but in the main, businesses using a CRM system are already benefiting from the five most compelling benefits (if they have had it scoped and customized properly).
Improved Customer Experience is the main reason most businesses invest in CRM. Customers and prospects are more easily and accurately segmented, their needs identified, and because the status of a company’s relationship with them is accurately tracked, companies can interact with them meaningfully at the right times, leading to more sales, faster sales and higher customer retention and satisfaction.
When customer relationships are being more carefully managed with the right tools to support staff, accountability is clearer. Employees across each department understand their responsibilities to customers throughout the customer lifecycle and when those responsibilities aren’t met, it’s easy to identify what went wrong, where, who fell short and how to make sure it doesn’t happen again.
A good CRM system, implemented and adopted well by employees naturally raises the value of data. By housing the data in one central system, data analysis and insight inform decisions about process, product and strategic planning. It’s also possible with marketing automation tools and third party apps to run email campaigns and other customer communications directly from the system. Of course, the only reason that can happen is because the data is current and correct, containing the most up to date information about a person’s interaction with your business. That can only happen because it allows your employees to work more efficiently with less duplication and miscommunication.
And not so well..
It all sounds somewhat adequate doesn’t it? Well, it once was. But let’s be honest. The benefits are mainly restricted to the customer service, sales and marketing functions. Sitting away from that, most businesses have a whole raft of other functions, producing products, designing services and ensuring customer deadlines are met. They’re using ERP systems to handle it all and once again, their systems are working for, well, those departments.
So, you have two sides to the business working as hard as they can to produce the best service based on the insight they have but what they don’t have, is a 360 degree view of any one customer. So, a customer service gap remains and their insight is lacking. Productivity is not what it could be and employees are not empowered.
Dynamics 365 Changes the Conversation
With this platform, Microsoft has shown us what the developments in Cloud and Technology have been driving towards. The strategy behind their acquisitions of recent years is clear and they are now in the process of delivering a platform that can do what what CRM has promised since the 80s.
Let’s be clear. This is no ordinary CRM upgrade. It’s not just a new name. In fact, the letters CRM have been dropped. Rightly so, because the term Customer Relationship Management doesn’t cover half of what Dynamics 365 will be able to do. It’s a system that glues together the final silos of data and processes of ERP and CRM bringing customer service, sales, marketing, field service, finance and operations together.
Ultimately, it creates one big feedback loop for businesses of every size, starting with what they need and entirely scalable. So business processes essentially start to become insight advantages.
As is always the case, what is a game changer now, will become the expected standard rapidly and if you are not on the train you could be left behind as industries across the world continue to transform in the next couple of years.
So, if you’re not in the conversation yet, now’s the time. If you don’t know where to start, you can download our Step-by-Step Guide to Getting CRM Right or give us a call and we’ll get you started.