Companies employing CRM are more focused on revenue history and are expanding internal access to customer data. They are not, however, measuring return on investment in great numbers.
According to a survey by Harte-Hanks, New York, Some 44% report no ROI measurements in 2002 compared to 32% in 2001. However, between 37% and 52% reported the use of at least one customer-based ROI-type metric such as improvements in customer service ratings, client retention rates and profitability tracking by customer. From 2001 to 2002, the use of such metrics grew by 17%.
“The future of CRM investment is dependent on how successful companies document and measure returns today,” said Gary Skidmore, president CRM, Harte-Hanks. “To justify the expense of CRM projects, even in phases, a variety of metrics will be important to ensure continuation of CRM programs, engage users and determine overall success.”
The survey also found that the use of CRM systems is expanding.
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