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Set Up Your RMs: CRM, MRM, PRM, IRM, HRM, ERM

February 25, 2017 Leave a comment

As I have mentioned before, your contact database is your gold.  And it needs to be organized and prioritized.  It needs to be maintained and added to.  But it is not only customers or prospects that you need to keep track of.  You need to have Relationship Management (RMs) systems for anyone that you need to be in contact with.

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Here are just a few off the top of my head:

  1. Customer Relationship Management (CRM) – it has been proven that your customers (or clients) are your best repeat business.  Stay in contact with them, normally with an email newsletter.  To do this you need to keep track of their information.  An issue to consider is if the information is also in your financial system (Quickbooks, MS Dynamics, etc.) then who is the information owner and how do you keep them in sync.
  2. Marketing Relationship Management (MRM) – this is for your marketing prospects that you can do nurture marketing campaigns and inbound marketing campaigns to.  Sometimes these contacts are in your Marketing Automation solution like Hubspot or Marketo.  An issue to resolve is the connection between the MRM system and the CRM system when a contact turns into a sales opportunity and usually moves over to the CRM system.
  3. Partner Relationship Management (PRM) – you have all types of partners – resellers that sell your products/services, companies that you sell their products/services, associations you are a member of and maybe even vendors that you depend on.  You might consider having a regular email newsletter to partners (especially their sales team) so you can easily keep them up to date.
  4. Influencer Relationship Management (IRM) – there are many that influence your marketplace that you sell into.  Keep track of the individuals that influence your potential buyers. For example, if you are a law firm, influencers could be other lawyers in your area that could recommend others to use your firm’s services.    These could also include bloggers, consultants in your industry who might recommend your organization and members of the media.  Additional information to keep on influencers are Twitter id, blog URL and Instagram id.
  5. Hiring Relationship Management (HRM) – if you hire a lot of individuals you might want to keep track of individuals that you could hire someday.  This might be in your HR system of the people that you have collected resumes from.  In some cases you might hold networking events to attract talent to your organization.  Then you will be glad you had a database of their email addresses.  LinkedIn profile id information would also be helpful for these individuals.
  6. Employee Relationship Management (ERM) – if you are a big firm you might want to maintain a database of your employees (more than just in Outlook) so that you can provide information to your employees.  Make sure your employees get the same message you send to partners, customers, influencers and prospects.

Sometimes all of these contacts can be maintained in a single database with the same software.  If so, then separation of types can be done in reporting and measurement efforts by a type field.  Sometimes they are in specialized solutions just for that type of individual.  There are advantages and disadvantages to having all the information in one solution.  Depends on who using and how communicating.

No matter what software solution you use, make sure your staff is well trained on its use.  Especially best practices, terminology and naming standards.  As in any database, garbage in is garbage out.  Constantly remind your staff of the importance of an accurate relationship management system.

All of these databases should include at the minimum the following on each contact: first name, last name, job title, email address, organization, phone and location (usually state and country).  If you do mailing campaigns then the physical address would also be necessary.

Your database is a big asset.  Keep the necessary information you need on the people you should be contacting.  Let me know how you maintain your relationships.  Feel free to leave me a comment.

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