Less than a third of executives worldwide are satisfied with the quality of their organisations' CRM initiatives, with more than half failing to deliver a return on investment.
These are the findings of a new report, “More than numbers: CRM in the networked organisation”, undertaken by the Economist Intelligence Unit and commissioned by AT&T. The survey of 237 executives also indicated that, despite millions of dollars in investment, the top line gains of many companies are only modest.
This is because they have allowed IT to assume too prominent a role, resulting in systems that fail to meet the needs of users in marketing, sales and customer service departments.
In addition, too few firms have implemented effective tools to measure the status of their customer relationships, even though the majority of executives consider the analysis of customer behaviour to be a priority for improving the quality of these relationships.
Jeff Ace, vice president of business development for AT&T’s global operations, said: “It is clear from the survey results that a thorough review of the business needs for CRM and of how the expected benefits would flow needs to be carried out prior to any investment in process and system implementation.”
Despite this, respondents said they realised that their organisations would have to support a range of new customer contact channels in the near future, with nearly half expecting to use video links and web chat or messaging to contact their customers in two years’ time.