The CRM imperative — Practice vs theory in the telecommunications industry
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- Wright, L., Stone, M. & Abbott, J. J Database Mark Cust Strategy Manag (2002) 9: 339. doi:10.1057/palgrave.jdm.3240082
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This paper examines various issues raised by the idea of Customer Relationship Management (CRM) and how it has affected traditional views on marketing. It uses three case studies from European telecommunications companies to illustrate the points made, focusing on how information technology in the form of the Internet and business intelligence solutions have enabled large businesses to focus on the customer as well as on their products and sales levels. CRM is a attitude that needs to pervade the company, but it needs a solid foundation of knowledge of customers. This knowledge comes not only from customer-facing employees but also from the vast amounts of data collected by companies today. It is the technological infrastructure that allows this knowledge to be distilled from data about customers and their interactions with the company, facilitates better business decisions and encourages customer loyalty and retention.