The CRM Textbook: customer relationship training Terry James © 2006 Knowledge Management (KM)
2 Tacit Knowledge n Knowledge management is the capturing and active management of intellectual assets n You can have capital assets, and intellectual assets n An asset is a process or object of value n Tacit knowledge is not written down n It is undocumented expertise in your people n © 2006 Terry James For CRM, who knows the client well, what makes the client buy from you, what do they want next?
3 Catalog and directory n n Product catalog that lists all the products and information on products Directory that lists all the employees, name, phone number, perhaps department n n Extend the directory, to skills, experience, authority to spend, etc. Extend the directory to contain CRM data: n n © 2006 Terry James knowledge of clients, industries, regions, … Extend the directory to relationships and roles between employees, teams, and clients.
4 Ontology of CRM n Thesaurus of CRM terms n n © 2006 Terry James Equivalent terms, hierarchical, associative, synonyms, homonyms, . . Deepen your understanding of client ideas, concepts, relationship of ideas and concepts
5 Continuous Improvement n n n n This is not just a manufacturing idea Take your client relationships and constantly improve KM is about finding what you need to know KM is about creating a learning organization In a world that changes quickly, KM is critical. Do you know your knowledge gaps? Do you have an improvement plan? © 2006 Terry James
6 Theory of constraints n n Do you know your weakest point? An easy way to find the weak link is to speed up your process and see what breaks first. n n n Can your old shipping system keep up to new orders from the Internet, or does billing get crash first? Once you detect a flaw, fix it, then speed up again. The constraint of time (speed) can equally be applied to constraints of space, cost, quality, or other key components of a business. n © 2006 Terry James Can you ship globally, for less than a competitor?
7 Workflow n This concept is the process flow for activities in your business n n n Fill in screen 1, then go to screen 2 for approval, then fax a form, then send an email, and follow-up with screen 9 to complete the job. Workflow will guide you through each step, it will monitor steps, tell you where a form is waiting, missing, how long it has been stuck? Workflow can automate filling in standard items such as current date or department number, and detect bottlenecks or wasted time. © 2006 Terry James
8 KM and workflow n What is the knowledge velocity of your firm? n n How fast does a new standard or client order flow across the company? Where is the choking point or constraint? Where is the quality hotspot? Why? Workflow combined with KM can improve knowledge velocity n n © 2006 Terry James Where do client orders slowdown? Where in your process are your largest quality issues on client data? Who, when, why?
9 Learning organization n n We live in a knowledge economy We are mostly knowledge workers, paid for skills and know-how than manual labor Closed loop marketing is where you take results of one campaign, learn from it, and use that knowledge in the next campaign. Single loop learning is finding a problem and fixing it. Double loop learning is learning how to improve your process of learning from single loop learning. n n © 2006 Terry James Single loop – lost client do to late shipping Double loop – we always ship late on quarter end, we never anticipate or learn from peak order patterns
10 Patterns n What are the patterns of behavior? n n Client patterns? n n Configuration, process, learning, … Solve causes, not symptoms n n Retired people like product X and Y together, parents buy T and within a month buy product Z. Business patterns? n n Positive patterns, destructive patterns A cure for a spot is helpful, but cure the measles and you stop getting any more spots What is the new client pattern? © 2006 Terry James
11 Patents n n n Patents are needed to protect your inventions, but publishing patents makes the information available to competitors Patents provide some protection against competition (a type of monopoly) Patents can be licensed, and the license generates fees. n n n Do you know anything unique, invent any process, that you can patent and license? You can now patent processes Do you have proprietary knowledge, do you have intellectual capital? © 2006 Terry James
12 Competitive Intelligence n You must know what your competitors are doing? n n n It is naïve to not watch your competitors When they change direction, you may need to change your plans or die. Are the competitors moving into new territories, lowering prices, hiring people (your people? ), patenting new products? © 2006 Terry James
13 Is your competitor growing? n How can you tell if your competitor is hiring more people at the factory? n n How can you tell if your competitor is making more shipments every month? n n Measure the wear on the railway line or floor How can you tell if the competitor is opening a new sales office? n n Drive around the parking lot and count cars Check advertisement postings in the newspaper How can you tell if the competitor will launch a new product? n © 2006 Terry James Look at what skills are advertised for on www. monster. ca
14 Portals n n n You can create websites that aggregate information You may offer connections to bidding systems or auctions You may offer easy connection to competitors, knowing the ease of use will attract more clients to your own site. You can generate transaction fees from any advertising or purchases made from your portal. Bringing together clients, products, or industries where there is diverse and fractured information is an excellent method to turn intellectual capital into cash. © 2006 Terry James
15 ABC Costing n n What is the biggest cost you don’t know about? What is your most expensive item of ignorance today? n n n We all have blind spots, and so are blind to the costs of that ignorance. One way to uncover the cost of hidden information is activity based costing (ABC) If you track and internally cost every process and item, you can start to see the hidden costs. With knowledge comes power -when you see the issue, you can work on it. What is the cost of your tacit knowledge when it leaves your firm? © 2006 Terry James
16 ABC Example n n Each department solves security in their own way. They never account for work on security Each department simply shows the cost of the project, with items like security hidden in with overall project costs. So the duplication of this item continues across departments repeatedly. © 2006 Terry James
17 Scripting n n There an infinity of potential problems and an infinity of fixes. If you wish to avoid solving the same problems over and over, then log the best solutions. Give people the information about what has been solved before, make it easy to look up an error, and find an answer. A solution script provides a template to answer a problem well, with consistency, and quality. n n Now I see why they did it that strange way! Keep a lessons learned document from any painful error © 2006 Terry James
18 Drowning in information n We have lots of information, but can never find the one thing we need to know. n n n Lots of data, little information, and less knowledge Imagine if your search for information provided you with the steps that the last person used when looking for the same answer? Imagine if searches spanned departments, and even collaborative organizations, consortium? © 2006 Terry James
19 Search n n n We can greatly increase our knowledge just by staring with search technology? Does your company have a good search engine for internal documents? Do you use keywords to make finding documents easier of others? Do you keep important documents on your portable and C: drive where no-one can find them? Do you have incentives to promote sharing knowledge? © 2006 Terry James
Why would employees not share information? n 20 What would you do? n n n © 2006 Terry James Not paid to train other people Too busy to help right now Last time you got too many phone calls asking how to use the document you provided No rewards for helping new people Don’t know how to do it yourself I am competing with Joe. If I help him, they might fire me instead of Joe
21 Why would employees share n Best reason is culture n n I share because everyone shares with me Nice environment here, everyone helps each other I can’t say no to Joe because Joe helped me yesterday This kind of environment is called teamwork and is very productive © 2006 Terry James
22 Summary n n n n Tacit knowledge Catalog and directories Ontology of CRM Continuous improvement Theory of constraints Tracking and workflow Learning organization Patents Competitive intelligence Portals ABC Costing Scripting Drowning in information, but lacking in knowledge © 2006 Terry James
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