I’m vetting ten VRM principles here: all grist for next week’s VRM Workshop mill. We’ll be changing these as the workshop approaches, I’m sure.
Note that these apply to management of relations with vendors by customers: the narrowest scope of VRM. The larger topic of relationship managmement (RM) is part of the discussion as well. Obviously there are other relationships — with chuches, clubs, civic organizations, government bodies and so on — where VRM tools apply, but the individual is not a customer. Do we want to broaden things by saying “individual” and “organization” rather than “customer” and “vendor”? I think we’re better off with the former than the latter, but I’m open.
- 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.