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Why
Does Your Company Need CRM?
The
costs of CRM in dollars,personnel,and time can be steep,CAP Gemini
recently released a study that found that average total investment
in CRM Implemtation is $3.1 Million.The payback period is 28
months.The most significant cost may be in impact on staff,which is
reflected in an 8 percent turnover increase in yewar one and 16
percent in year two.This is heavy to pay in an era of increasing
skilled labor shortages.Yest,to retain customers who can get 'it'
cheaper,often via mouse click,is not easy.CRM Implementations aim at
solving this conundrum.But,how do you convince the corporate offices
and other stakeholders to do the deed?
In order
to successfully persuade these internal targets to approve and
support eCRM project,it is necessary to understand what key internal
metric(s) should be for the eCRM implementation.While each company
has a set of ideas and ways to measure those ideas to define their
customer success story,ultimately,it falls to customer response.That
means that the first measurement,wheather the company is conscious
of it or not,should be the increasingly popular lifecycle management
(CLM)
Key
Factors which influence CRM are :
Customer Lifecycle Management(CLM)
Customer Lifetime Value(CLV)
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