Merits of CRM

In this news report, they discuss the merits of CRM. Since the conception of CRM systems, much has changed. In 1997, 39% of contact centers said they “had a single view of the customer” with 45% planning to follow their lead within 2 years. By 2007 this number had dropped to 34%. As Stephen Loring, a business development manager for customer interactive solutions stated:

“The rise of the Internet, and the use of different channels such as IVR and Web self-service has disrupted the unified 360 degree view of customers in CRM. At the same time the payback period for CRM installations is too long for many of today’s business managers.”

This has lead people to question the usefulness of CRM. In response Pete Marston, a Forrester Research Analyst had this to say:

“If you have customers won over you need to maintain those relationships, on the marketing side you need to get people interested in your product or service by understanding their buying behavior is, and then on the sales side you understand what the customers’ needs are. The various CRM tools help you carry out these functions.”

What is your take on this debate?