Study: Enterprises Need Clear CRM Strategies

Share this content:
The lack of clearly designed customer relationship management strategies within an enterprise can reduce the effectiveness of deployment, according to a report released yesterday by Frost & Sullivan, San Jose, CA.


The report, "Frost & Sullivan Global CRM, Interactive CRM, and Mobile CRM Initiatives and Forecasts," reveals that CRM-generated revenue exceeded $11 billion in 2001 and is projected to approach $36 billion by 2008.


But the report said that though many companies have taken the external step of furnishing the technology, CRM solutions are often underused internally.


"While the adoption of CRM software suites is rising at the corporate level, the same cannot be said for employees' adoption," said Katherine Shariq, industry analyst at Frost & Sullivan.


In addition, the study found that many early users viewed CRM as the solution to all of their customer problems. However, this was not the case, as the technology was not combined with a clear, enterprise-wide CRM strategy. To overcome this, industry participants must take a proactive role in seeking new markets and educating end users about the operational strategies they must adopt, the study said.


"Departments that define their objectives at the outset and then put the applications into place become satisfied and successful users in comparison to participants who expect technology to solve their business concerns," Shariq said.


The study also found that while traditional CRM was based on making customer service representatives more efficient on the telephone, today's CRM is designed to make it easier for a customer to do business with a firm -- rather than its competitor -- by providing more online self-service capabilities, knowledge transfer and information sharing. Organizations must provide customers the appropriate tools to foster healthy company-client relationships.


Loading links....

Sign up to our newsletters

Company of the Week

We recently were named B2B Magazine's Direct Marketing Agency of the Year, and with good reason: We make real, measureable, positive change happen for our clients. A full-service agency founded in 1974, Bader Rutter expertly helps you get the right message to the right audience at the right time through the right channels. As we engage our clients' audiences along their journey, direct marketing (email, direct mail, phone, SMS) and behavioral marketing (SEM, retargeting, contextual) channels deliver information relevant to the needs of each stage. We are experts at implementing and leveraging marketing technologies such as CRM and marketing automation in order to synchronize sales and marketing communications. Our team of architects and activators plan, execute, measure and adjust in real time to ensure the strategy is working as needed and change things if it's not.

Find out more here »

DMN's Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here