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How managers should support CRM implementation

Posted by CRM for Small Business

While executives of large companies share the view that technology has helped them strengthen relationships with customers, 55% say that some shortcomings of the Management of Customer Relationship (CRM) are motivated by the lack of attention of the leadership of the company, according to a study by Accenture. The report’s findings coincide with the opinion of Accenture that, despite the benefits of such techniques, CRM has failed to develop its full potential yet. About 74% of executives believe that you do not have adequate strategic planning for the management of customer relationships.

“Too many CRM projects focus on the mechanics, tools and specific technologies rather than on the last end of it: increase the value of customer relationships. CEOs now face the challenge of not only provide sales and service function more complex, but also to deliver and manage these functions more quickly and in a more profitable, “said Alfonso Gonzalez, Partner at Accenture.

Companies have some significant obstacles ahead to make their CRM initiatives succeed. When designed and implemented properly, CRM for small business can produce an exceptional economic value. Moreover, the report notes that over half the study participants (56%) say that their companies would grow between 1% and 20% if they could get access to complete customer data.

There is also a great match on the consideration that technology can provide “historical data, current and real-time” customers that would stimulate sales significantly: 35% say that sales could increase “largely”, while 43% said they would “to some extent. Furthermore just over 20% believe they are optimizing all customer data “largely” to boost sales. Some 47% say that this data is used “to some extent. When asked if the technology was helping their companies gain a better understanding of customers, 33% said it helps them “by far”, while 54% believe it does “to some extent.

Among the other reasons mentioned to explain the difficulties of CRM software include: From the lack of vision of long-term CRM for small businesses, to inadequate investment planning, through the improper calculation of the profitability of them.

Technology solutions designed to establish more profitable and longer lasting with customers are generally associated with a type of popular applications such as Relationship Management Customer or CRM. According to the study, more than half of the sample thinks that data and customer knowledge obtained through CRM can increase sales by up to 20%.

“CEOs should take closer look innovative and proven methods to maximize the return on CRM investments and initiatives of customer value back to the basics. The key lessons learned will help companies achieve this objective” says Beth Eisenfeld, head of research at Gartner CRM issues.

Accenture conducted the study along with Wirthlin Worldwide. The Comprehensive Study for executives (Executive Omnibus) Wirthlin is designed to learn what they think the most responsible business issues affecting businesses today. Wirthlin interviewed a representative sample of the Fortune 1000 over May 2002.