CRM systems: Necessary, but not sufficient. REAP the benefits of customer management

Paper

Abstract

Research shows that there is a good correlation between customer management (CM) performance and business performance. Expenditure on customer relationship management (CRM) information technology (IT) systems has increased over the years, however many CRM systems fail to deliver the desired objectives. Actual CM performance measured using CMAT™ (Customer Management Assessment Tool) is, however, disappointing and companies may be destroying rather than creating economic value. Investment in REAP (Retention, Efficiency, Acquisition and Penetration) measures can provide a four to one return on investment for well-managed programmes.

Keywords

Database Marketing Customer Relationship Analytical CRM e-CRM Direct Mail Telemarketing Targeting Segmentation Behavioural Analysis Systems Profiling Campaign Intelligent e-marketing Interactive Market Modelling eCommerce Internet Information Management Research Data Protection 

Copyright information

© Palgrave Macmillan 2002

Authors and Affiliations

  1. 1.Senior Lecturer in marketing at De Monfort University
  2. 2.Chairman, QCi Ltd.

Personalised recommendations