Despite all the bad press over the years – who, me? - marketers still think that CRM tools offer the best return on investment (ROI). According to a study conducted by the Chartered Institute of Marketing (CIM), 24% of marketers think CRM delivers the greatest ROI, while advertising – offline - offers the worst. Marketing people in financial services and other services firms and those in the technology and telecoms sectors are particular fans of CRM.
“As belts tighten it is clear that marketing spend on advertising is under pressure but it’s refreshing to see that investment in ‘knowing your customer', through CRM systems, marketers are able to wisely concentrate their spend in the most effective activities,” said director of research and professional development at The Chartered Institute of Marketing, David Thorp. “As we move into 2010, I’m convinced this more professional approach will stand them in good stead when the economy recovers.”
All very encouraging for CRM vendors I'm sure. But it's interesting that the second best ROI expectations come from..er, PR. So, the spin doctors and the Edina Monsoon, "PR, PR sweeties" are almost as good an investment as CRM.
Of course, there's a world of difference between the CRM industry and the PR industry one. One is based around exaggerated claims and overexcited hype and an often tenuous and tangential relationship to the truth, while the other is...
Oh :-(
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