- VRM provides tools for customers to manage relationships with vendors. These tools are personal. They can also be social, but they are personal first.
- VRM tools are are customer tools. They are driven
by the customer, and not under vendor control. Nor to they work only
inside any one vendor’s exclusive relationship environment.
- VRM tools relate. This means they engage vendors’ systems (e.g. CRM) in ways that work for both sides.
- VRM tools support transaction and conversation as well as relationship.
- With VRM, customers are the central “points of integration” for their own data.
- With VRM, customers control their own data. They control the data they share, and the terms on which that data is shared.
- With VRM, customers can assert many things. Among these are requests for products or services, preferences, memberships, transaction histories and terms of service.
- There is no limit on the variety of data and data types customers can hold — and choose to share with vendors and others on grounds that the customer controls.
- VRM turns the customer, and productive customer-vendor relationships, into platforms for many kinds of businesses.
- VRM is based on open standards, open APIs and open code. This will support a rising tide of activity that will lift an infinite variety of business boats, and other social goods.
These principles have a number of implications. These are:
- A free customer is more valuable than a captive one
- Markets won’t be free until customers are free
- VRM tools are personal tools — they benefit the individual first
- VRM tools provide individuals with ways to manage relationships
- The individual is the central point of integration
There are more; here’s the video (for the folks reading on RSS). The video is also embedded below. Take a look.
(Thanks to Tom Guarriello for shooting this!)