Lighthouse Consulting Group, LLC

Consulting

May 2003
Customer Relationship Management — Why Expectations Often Go Unmet

Customer Relationship Management (CRM) was launched a decade ago as a method for making companies more responsive to customer needs and at the same time improving profitability. Many initiatives have fallen short of expectations forcing companies to search for reasons why and decide what to do next. Paradoxical as it may sound, many CRM initiatives failed for lack of customer focus. There was far too much emphasis on cost savings and improving the bottom line.

The late 1990s brought us "e-everything", Internet time, and the need to technologically "keep up with the Joneses." In retrospect, excessively expansive projects were undertaken that were software rather than business driven. Companies ignored the 80/20 rule and created comprehensive systems with high marginal costs and low marginal benefits. Software was acquired "that could do almost anything" so that detailed planning could be left until later.

The lack of initial planning often resulted in excessive spending, unrealistic expectations, and a failure to re-engineer processes, and make needed organizational changes. CRM is about a shared mindset and vision as much as it is about implementation tools.

What should you do next if your expectations are unfulfilled and your return on investment goals are unmet? It may be time to revisit your original CRM vision and expectations to be sure they are driven by today's business. Is the implementation plan complete and consistent with the vision? Is the marginal cost of completing individual components justified by the anticipated benefits? Have all affected processes been optimized? Have adequate and appropriate resources been committed? Have the necessary organizational, incentive, and cultural changes been made? Prioritize what needs to be accomplished.

Recognize that many within your organization have made significant personal commitments to the current CRM effort. To lead a review of your CRM plan consider adding to your team a senior individual respected for his/her objectivity and open mindedness, who is neither deeply involved in the current CRM effort or an outspoken critic of it. -- Bob Popadic

RESEARCH

March 2011
Small and Home Busines Check Deposit Practices 2010-11 Survey Results

October 2007
Small Business RDC Survey Results

ARTICLES

2013
LCG Granted Patent for Remote Deposit Capture

2012
Some Small and Home Businesses Willing to Pay Large Premium for RDC

Small and Home Businesses Are Not All the Same – An RDC View

2011
Lighthouse Consulting Group, LLC Granted Patent for CheckFaxRDC Application

2010 Survey of Small and Home Business Check Deposit Practices Now Closed

2010

LCG Sets Up LinkedIn Small and Home Business Depositor Group

CheckFaxRDC Compared to Other Remote Deposit Capture Solutions

2009
Looking Beyond the Averages When Offering RDC to Small and Home Businesses

2008
Oil Prices, Credit Crises - Alternate Routes to Remote Deposit Capture Growth

What will the role of branches be in 2015?

Remote Deposit Capture Creates Market Segmentation Opportunities

2006

Fax Machines - Check Scanners
Small Business Already Have

2005
Small Business - A Remote Capture Opportunity

Remote Check Image Capture - Business Case Behind the Marketing Opportunity

2004
Check 21 a Marketing Opportunity!

2003
Check 21 Act Passes Congress - Opportunities and Concerns

When Will Banks Get On
Board for Check Imaging?

Customer Relationship Management - Why Expectations Go Unmet

Recover from a Disaster or Risk Customer Attrition

Internet Attacks May Be the Least of Your Worries!

Losing the Paper Chase

2002
Fewer Checks to Be Written and Even Fewer to Be Posted

Depositing Checks from Your Office