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Using CRM to Stop the Leaky Bucket Syndrome
The firm's goal is to achieve a number one status across every single product it has.
For the rest of the November 2004 issue of CRM magazine please click here
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Although the medical diagnostic market was growing at nearly 10 percent per year, Toshiba Medical Systems' business was lagging. After an internal evaluation of customer relationship processes, the company discovered that for every customer it was gaining, it was losing another. This led Toshiba to develop a homegrown CRM system. To support the initiative, the company established three teams: a functional team that established best practices and business models; a technology team to implement these models; and a communication team. "We needed to make some changes in our culture, and we had to communicate with our end users what we wanted to achieve," says John Totoiu, senior information systems analyst for the company. After the planning phase and back-office data integration the CRM system went live. Toshiba Medical Systems can now gather specific customer feedback that allows the company to create predictability models for marketing, with root causes correlated automatically in the system. Additionally, if a company has a less than stellar response to a product, a local support team will initiate a "service recovery action" to prevent the customer from experiencing any future dissatisfaction. Since launching the CRM initiative Toshiba has jump-started its growth. For the past two years, in fact, it has been rated the number one computer tomography company in the country, and has recently received the number one rating for its ultrasound systems and cardiology equipment. "Our goal is to achieve that number one status across every single product we have--we're about two thirds of the way there now," says John Zimmer, vice president of marketing for Toshiba Medical Systems. Sales is not the only area seeing major improvements. The company now has a retention rate of more than 70 percent, an improvement of more than 20 points since the CRM implementation.
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