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> Six Ways to Use C RM Systems to Prepare for Economic Recovery C ustomer Relationship Management: C oping With Budget C uts
Nine Cycles of (Business) Life and C ustomer Relationship Management
Not that either assertion is w rong.
A Buyer's Guide to CRM Functionality
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Both these latter tw o mantras of Customer Relationship Management, or CRM, are achievable by certain companies in certain circumstances. However, their use as a sweeping generalisation by marketers keen to convince the main board to invest millions in CRM software, is unjustified. On the other hand, while it may have looked as though a majority of CRM projects in 2001 teetered on the brink of failure, this is no longer the case four years later. Recent research from Lloyd James Group[2]indicates a 5-10% drop in available data on the market. And opt-out rates from the Electoral Register (a major prospecting resource for marketers) now stand at 29%[3]. This has occasioned a small but significant shift of marketing investment aw ay from new customer acquisition, and tow ards existing customer development. Research from Pitney Bowes[4]indicates that by the end of this year, 51% of marketing investment w ill go into customer marketing, and 49% into prospect marketing. Another research project from the