You’ve managed to put in place a very effective Business Intelligence platform, that with diligence can tell you, through KPIs, how well your organization is performing; what process, product, or service is approaching the desired goal and which of those is not quite there yet.
But those are just indicators, numbers that give you part of the picture.
What if you or your team want to dig deeper and learn how to get those points closer to the desired goal, or better yet, how can we improve and repeat what is actually working? So, the underlying question would be; can your organization’s content provide the information to assess this?
Let's say that among the KPI information related to your customers you get a clear indication that Customer Retention Rate is at a 76%, which determines how good your company is retaining customers. At first glance, it seems your organization is doing ok, but you want to improve that rate.
Well the first step, is to know what is it your organization is doing right, what are the areas with room for improvement, and the answer sure enough is within the body of your organization… (the content in your organization, that is).
Your organization have interaction with your customer base in multiple ways,
- Press Releases
- Social Interaction (Facebook, Twitter, etc)
- Product and Service Offers
- Customer Representatives interaction with your customers
- Customer’s feedback
- are these interactions easy to find?
- is it all in one place? is it trapped in paper, email, jump drives, network drives, the cloud, your ERPs?
- could the right personnel find that X factor that you are looking for in an opportune time fashion?
- how much does it really cost to find what you’re looking for? do you even know if you can afford this search cost?
- can you identify what content is tied to what indicator?
While you think about the answer to any of these questions and struggle to find that X factor that will help you analyze and come up with the answer as to how to increase your customer retention, your competitors are struggling as well too.
You have the opportunity to step ahead and make good use of Enterprise Content Management.
Once in place, a well-implemented and well-managed ECM strategy can help you:
- Establish faster a close knowledge of your customers’ wants and needs and model your offering to what they are asking from you or the market
- Know better your products, what is working, and what is not and most importantly… WHY?
- Streamline your business processes, making them more agile and enabling you to change and adapt quicker to changes in the market.
- Go paperless, or have the infrastructure in place to do so when appropriate or in a timely manner
- Reduce time in processing documents; being proposals, orders, and contracts, among others
- Keep your information and processes in compliance with law regulations, internal policies, and security standards
- Maintain automated communication with customers or prospects while engaging with them through multiple channels
I am sure you can see the money savers in each of these points, and better yet, how these can get you closer to increase customer retention and hence, increase revenue.There are plenty offerings in the market for ECM, some proven to be the biggest players and others are ad-hoc solutions in the cloud that have come across as ECM, just because of the need of employees to collaborate and exchange information among them or with third parties.
And while ECM can help you get to your bottom line, it does not have to be “overly expensive” or “prohibitively costly” and, it can still be as extraordinary.
If you are interested in knowing a little bit more about an affordable ECM solution for your organization, even if you have an ECM solution in place, lets talk a little bit more… You will learn valuable information.