Methods for Achieving Return on Investment from CRM
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Read this tutorial if you want to achieve a return on investment from an existing customer relationship management (CRM) system. If you are still in the implementation phase, you will want to visit our tutorial that helps you build a return in your implementation effort.
Table of Contents
A. Strategies to help you achieve a CRM return on investment:
- Understand customer interaction points for your business,
- Enhance basic contact information with customer preference,
- Determine what expectations the customers has,
- Learn to leverage vendor relationships to expand reach or value,
- Understand where you currently stand,
- Define each users core function then train on product specifics,
- Use regular short training sessions in-house over long events,
- Know when technical assistance from experts is necessary,
- Your CRM objectives should be aligned with business objectives,
- Strive for accuracy of data intelligence gathered,
Resources
A number of on-line articles and special reports will help you better understand these methods for achieving a return on investment from CRM. These resources were selected as they are most appropriate for this topic.
- Avoid the ROI Pitfalls: Strategies for CRM Success (Nucleus Research, PDF)
- How can businesses take the ROI guesswork out of CRM projects? (Destination CRM)
- Understanding and Achieving ROI with CRM (Customer Potential Management Marketing Group, PDF)
- CRM Analytics KEY to ROI on CRM (Real Market, PDF)
- Achieving High ROI through Integration (SearchCRM)
- Planning for CRM Project Success by Kimberly Hill (CRMDaily.com, 3 December 2003)