Third Industrial Revolution

January 30th, 2011 by

In Calgary, Chris Anderson, author and editor-in-chief of Wired magazine spoke on the topic of the third industrial revolution; and via a radio and Internet, President Barack Obama, gave a weekly address where he focused on the topic of the need for America to out-innovate, out-educate, and out-build its competitors.

Chris Anderson
• “society is beginning to see a third industrial revolution built around the success of the web over the past 20 years.”
• “He said the digital trends of peer production, open-source, crowd-sourcing and user-generated content are now hitting the physical world.”
• “If the past 10 years have been about discovering post-institutional social models on the web, then the next 10 years will be about applying them to the real world,”

Barack Obama
• “That’s how America will win the future: by out-innovating, out-educating, and out-building our competitors,”
• “We’ll win the future by being the best place on earth to do business.”

I read a white paper this week entitled, “How Sales Reps Spend Their Time” By Mark Ellwood President, Pace Productivity Inc. that indicates sales reps spend 22% of their time selling and the remaining 78% is made up of planning, travel, administration, order processing and other. When I work with customers I want to determine what role a CRM plays in their ability to participate in the “third industrial revolution” by making changes to process that involve the customer.

The challenge with the majority of companies is the information about their customers is distributed in marketing list, sales reports, communication tools, and accounting and operation systems. Customers need to take the approach that managing the customer relationship is like a third industrial revolution assembly line; it starts with a prospect, moves to a lead, transitions to an opportunity that either ends up as a customer or moves back to a lead. Having a distributed account record model goes against what Chris Anderson talks about in learning from the past 10 years of the web by fostering a “peer production, open-source, crowd-sourcing and user-generated content” model for managing customer.

Companies need to adopt a CRM systems that will allow them to view a customer as a single entity across all business units that touch the customer including marketing, sales and operations. Companies that take this approach will be “out-innovating, out-educating, and out-building our competitors,” and be masters of the third industrial revolution.

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