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Forrester's Fastforward CRM Technology Adoption Technique

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Good CRM solutions create positive outcomes by addressing the many seen and unforeseeable pitfalls that affect business models. The categories to consider are those of people, process and strategy in business models. Band (2009a) reports, “less than 50% of CRM initiatives fully meet expectations” (slide 2). Therefore, it is important to examine CRM strategies in order to manage effectively cost, investments, and staffing resources. Understanding the impact of technology, people, process, and strategy on business models help identify and minimize those risks and pitfalls that lead to failure. As weak areas are identified, it allows businesses to adjust plans accordingly and to closes the gaps between implementation goals and business …show more content…

Process and data have a close relationship (as cited in Lamont, 2016). As businesses processes and data integrate the customer touchpoints, businesses receive insights to “improve the customer experience” (Lamont, 2016, p. 10). When customers experience good experiences, it is more likely they will become loyal customers. According to Band (2009b), the Forrester’s FastForward CRM Technology Adoption Method & Tool Kit is an assessment tool that businesses utilize to examine chosen CRM initiatives or strategies. There are three phases under the Forrester solution. They are Align, Select, and Deploy. The align phase assesses the current business capabilities. The Forrester CRM Best Practices Assessment Framework is used for this assessment. The Forrester Best Practices Framework for CRM examines the entire customer life cycle—interests (customer acquisition), purchase (customer retention), and feedback (customer value) (slide 8). Because CRM involves “the set of processes and supporting technologies used to acquire, retain, and enhance customer relationship”, CRM tools hold customer relationship as a high priority (slide 7). Customer acquisition involves getting the

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