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BizReport : Loyalty Marketing : February 22, 2017

Less than 1 in 5 CRM managers feel they contribute to business revenues

Less than one in five customer relationship management (CRM) managers believe their work was clearly contributing to company revenues, according to new research released by marketing tech provider Wiraya.

by Helen Leggatt

When it boils down to it there are three types of approach to CRM. According to Wiraya's recent survey in the UK of more than 500 employees responsible for CRM systems, a third (34%) of businesses fall into a "traditional" category, 32% into an "ad hoc" category and 31% could be said to be "ambitious".

Those in the traditional category are described as working in a traditional CRM environment, using it continuously and employing a CRM manager but without a clear plan. Those in the ad hoc category operate without definite structure.

However, those in the ambitious category have plans and processes in place bolstered by a team or individual with dedicated CRM responsibility.

"Many businesses are still finding their feet when it comes to fully taking advantage of the benefits of a CRM system," said Sam Madden, Wiraya UK director.

Top of respondents' business agendas is to improve customer satisfaction, while 27% cited return on investment. However, just 17% felt that CRM was "clearly" contributing to their company's revenue.

According to Madden, the use of IoT and AI could enable CRM strategies to go that one step further interacting with customers. However, as recent research from Verint Systems discovered, the human touch remains important even in an increasingly digital world. Verint's survey of more than 24,000 consumers across 12 countries and nine industry sectors revealed that consumers who prefer to do business via digital channels are more likely to swap providers than those who maintain human relationships via stores or contact centers.

"Consumers feel more positive about a brand when they interact directly with a person, so organizations need to consider how to make the digital experience more personal to avoid increased customer churn," says Rachel Lane, director of customer analytics, EMEA at Verint.

Tags: CRM, customer relationship marketing, loyalty marketing, research, UK

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