Buzzword that kill: The assassination of CRM by the coward the Customer Data Platform
In this series we look at how certain buzzwords kill off who industries and as tech involves this cycle becomes quicker and quicker.
First up we focus on the first victim the Customer Relationship Management platform or “CRM” and its slow creeping death at the hands of the Customer Data Platform or “CDP”.
That’s right. Our first buzzword that is dead in the water is the infamous CRM. At it’s heart CRM was a record of engagement manually punched in between you and your prospects. We’d love to say clients but once the deal is done and you throw them over the fence it’s on to the next target / sucker to explain your solution to the problem they don’t know they have. Also known as Enterprise sales….
And we are not knocking that.
But a CRM is just not accurately maintained by industries outside of legistation cuff links like KYC for financial organisations.
And for decades CRM’s have reigned supreme and best embodied in the force that is SalesForce. At first a clunky punch in database of failed sales calls and pipeline status which – at the very least – allowed you to sack and reasonably quickly onboard your new B2B sales reps.
Not so anyone. Because the Customer Data Platform is a beast from a different era .Today actually. And it’s been quietly picking up nimble, new or even out of date companies who have missed the CRM wave with a bit of tech that applies the sort of understanding of touchpoints (there I said it…) to both the B2C and B2B world that is simply not possible for the vast majority of companies with even the most modern CRM stack.
And we do mean SalesForce here…
So here’s the three pillars which, if you’re not on, it’s….well good and bad
Sales Force – Marketo – Zendesk (Talkdesk) or eqv…
So if it looks something like this and you’ve got lots of bi directional syncs and native integrations going on and the word Zap turns up if you don’t then, fundamentally. someone knows what they are doing in your organisation…
And even if you do then the Customer Data Platform is coming and it’s putting a lot of your unstructured data and friction into one schema that also can – and maybe not as good as specialists – manage the channels, popups, email platforms and what not
And produce the type of segmentation that is actionable from one platform that you can only dream of.
You might have a Data Analyst crunching your data in Tableau to produce after 3 months a very worthwhile analyisis that X group don’t buy on discount buy group P only on shipping
It doesn’t matter because your competitor with the Customer Data Platform knew that already and they’ve got more micro segments than you can throw a goat at.
Buzzwords that kill: Part 1 – The murder of CRM by the coward The Customer Data Platform
Credit: The Assination of Jesse James by the coward Robert Ford