What do CRM & CX have to do with each other? Are there different needs from and types of CRM? Who, in my company, is responsible?
Why is CRM important to your business? Why is it critical for casino & hospitality businesses, to lever CRM to prove their Customer Centricity?
In June 2021, Statista.com reported 462 commercial and 525 Tribal casinos in the USA. That means 987 casinos have the same slot mix, live gaming options, and amenities. General categorization is bad, but only a handful receive guests for being a destination. For the balance of operators, the sole unique offering is the Customer Experience, aka ‘CX.’
CX is paramount in importance for obvious reasons. Great experiences = Greater Loyalty. Greater Loyalty drives Recency, Frequency, Monetary (RFM) metrics. For casinos, a highly competitive industry, with static offerings, NOTHING is more important than the customer and CX.
What do CRM systems/strategies have to do with the Customer Experience? Do the types of CRM produce different results?
It is widely accepted there are three types of CRM: Operational, Analytical, and Collaborative/Strategic. Full definitions are easily found on the www, but here’s how they breakdown, at a high-level:
- Operational CRM – Generate leads, Convert leads into subscribers/contacts,
- Analytical CRM – Data analysis, providing internal business insight, and
- Collaborative CRM – aka, Strategic CRM, shares data throughout the organization for the alignment of sales, marketing, ops, etc.
Your customer will enjoy Great Experiences, when all three CRM types come together. As a bonus, your company’s goals and efforts will be aligned!
Who, in my company, is responsible for CRM?
Every. Single. Person.
All users in all departments are required to populate, cleanse, and maintain the platform. Operations groups use the platform to anticipate needs and deliver exceptional service experiences. Analytical groups use the platform to maximize game mixes, amenities, and schedules. Finally, the strategic group, i.e., management, analysts, planners, use the platform, data to guide the business towards their goals and adjust, if necessary.
