• by Jack Loechner , Staff Writer @mp_research, June 2, 2003

No Goals For CRM Investments

According to a new study from consultancy BeringPoint Inc., only 6% of executives overseeing customer relationship management programs have set specific return on investment goals for the early stages of the projects.

In contrast, more than 70% said they didn't have clear and specific goals for achieving returns on their CRM investments. Separately, 40% reported they received support and approval from only part of their company.

It's not surprising, therefore, that "a significant number" of marketers are re-evaluating their customer relationship marketing efforts. But only 22% of those attributed their reexaminations to the soft economy.

"Right now companies are re-evaluating their CRM initiatives due to their inability to meet business performance expectations, not because of the downturn in the economy," Bruce Culbert, senior vice president of BeringPoint's CRM practice said, in a statement.

Business-to-business companies tended to concentrate on applications and software when reviewing their CRM efforts, while consumer-focused marketers look at the customer-facing elements, the study revealed.

For more information, contact Direct_Newsline@newsletters.primediabusiness.com (email source)