Breathing New Life into your CRM

Yesterday we attended the Breathing New Life into your CRM session at the ILTA Annual Conference. The focus of the session was on realizing the ROI on customer relationship management systems, why some CRM implementations fail and others succeed, and innovative ways firms are reviving their systems and getting more use out of them.

While CRM systems have been around for decades, firms have traditionally used them for list management, email marketing, and event management. Here are some of the unconventional ways firms are using them today:

  • Dashboard for tracking activities
  • Client teams
  • Pipelines
  • Competitive intelligence
  • Collections
  • Referral tracking
  • Expense tracking
  • Record Management
  • Communications
  • Media Interface

However, whether using your CRM system for conventional or unconventional uses your firm must first define goals and determine how success is measured. It takes clear benefits, realistic expectations, leadership support, communication and training to succeed. You will know when you have achieved your goals by increased revenue, client retention, new client representations, reduction of redundant tasks, lateral recruiting, enhanced business reporting and metrics.

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