Study: One-Fourth of CRM Projects Meet Deliverables

Share this article:
Slightly more than one-fourth of CRM initiatives meet the project deliverables as defined before implementation begins, which usually means success for those companies, according to a Best Practices LLC study released last week.


"The real value drivers of successful CRM initiatives start with an awareness and appreciation for the softer organizational issues and then employing proven best practices to effectively manage both technology and people," said Jonathan Tanz, director of research at the Chapel Hill, NC, research and consulting firm.


Companies profiled in the research include Lands' End, AAA, Merrill Lynch, Aventis, Boeing, Raytheon, Corning, Eli Lilly and JD Edwards. The study also gleaned the following information:


· Though 67 percent of senior managers acknowledge customer relationship management as a priority, only 17 percent engaged with customers to better understand how a CRM initiative could benefit them.


· CRM initiatives increase upsell opportunities and customer retention rates but do not improve closing rates.


· An effective tactic to reduce organizational resistance is to create training programs that inform and influence all stakeholders to integrate CRM metrics into their organizational functions.


· When selecting a CRM solution, only 40 percent of organizations incorporate vendor-training capabilities in their decision making.


Melissa Campanelli covers postal news, CRM and database marketing for DM News and DMNews.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters


Share this article:
You must be a registered member of Direct Marketing News to post a comment.
close

Next Article in Data/Analytics

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Data/Analytics

Epicor to Acquire Analytics Provider QuantiSense

Epicor to Acquire Analytics Provider QuantiSense

Retail solutions provider seeks to up its data analytics game for large and midsized retailers.

One Third of Companies Fail to Measure Data Quality ROI

One Third of Companies Fail to Measure Data ...

Twenty percent of companies assume their data quality tools pay off, while another 10% doesn't monitor ROI at all.

Ensighten and Anametrix Unite in an Open Relationship

Ensighten and Anametrix Unite in an Open Relationship

Ensighten's purchase of the analytics company is about giving ultimate ownership of data to marketers, says CEO Josh Manion.

Copyright © 2014 Haymarket Media, Inc. All Rights Reserved
This material may not be published, broadcast, rewritten or redistributed in any form without prior authorization.
Your use of this website constitutes acceptance of Haymarket Media's Privacy Policy and Terms & Conditions.