Latin America offers a strong base of potential CRM software purchasers — especially Brazil and Mexico, where large customer bases justify the investment, according to a report this month from the Yankee Group, Boston.
The report, “Latin American Enterprises Find CRM Solutions in Small Packages,” found that even in second-tier Latin American markets, many CRM projects have begun in various verticals including financial services, telecommunications, pharmaceutical, retail chains and citizen services.
The report also found that while there is a need for high-cost CRM solution suites among some of the largest Latin American firms, the small and medium enterprise CRM market has vast potential.
The study also suggests that along with private-sector verticals, these vendors should nurture relationships with decision makers overseeing e-government initiatives throughout the region.
“We believe operational CRM package vendors will continue to grow their revenue [in Latin America] as the importance of call centers expands for customer contact,” said Sheryl Kingstone, the Yankee Group's program manager for customer relationship management strategies. “CRM analytics in the region, however, will continue to be held back until the region's marketers develop a greater appreciation for both sophisticated segmentation models and personalized campaigns via direct channels.”