Customer relationship management (CRM) solutions have delivered only modest gains in revenues despite millions of dollars of investment, according to a new survey and report from AT&T in co-operation with the Economist Intelligence Unit.
Only 29% of the 237 high-ranking global executives who responded to the survey said they were satisfied with the quality of their companies’ customer relationship management (CRM). Other research cited in the AT&T report indicates that more than half of all CRM programs are failing to deliver a return on investment.
Companies continue to invest heavily in CRM solutions in an attempt to streamline their marketing campaigns, improve sales effectiveness, and increase customer profitability — even though the AT&T report shows these benefits have yet to materialize for many organizations. Gartner predicts the worldwide market for CRM services will grow by an average of 16% a year to $47bn by 2006.
My spin: Ok, so CRM is not working, but (or companies are still awaiting a payback) what should companies do to get their payback? It appears that possibly smaller CRM projects like those done by Icode might be working better?
Latest posts by Ramon Ray (see all)
- Zoho’s Innovation Continues to Help Small Business Start and Scale - February 16, 2018
- How To Use CRM to Create Positive Customer Experiences - February 16, 2018
- Heartwarming Small Business Movie from Intuit Celebrates Small Biz Success - February 2, 2018