A while ago I spoke at an event that reviewed the results of the “Client Relationship Management – The truth in professional services” benchmark study, and was reminded of a pretty important point.
Only 28% of firms covered said they made serious efforts in setting success measures for their Client Relationship Management programmes and activity. At the same time, the analysis showed that setting success measures was one of the factors with the highest association with gaining real financial & strategic benefit from CRM. For the 72% of firms that don’t do this, its worth rethinking because
Of course, any of us in marketing or IT who are centrally concerned with CRM programmes can be reluctant to commit to measures. Does putting our heads above the parapet in this way consign us to greater risk?
Well, no, not really. Not putting metrics in makes it much less likely that the CRM effort will succeed and be seen as a success by the firm. The outcome will be pretty clear to most even if not formally measured by metrics. Conversely, using metrics to show leadership and accountability for success will improve the overall result – for the firm as a whole and those centrally engaged in the effort. So I think it reduces risk....
(BTW Drop me an email here or at email@example.com if you'd like a pdf copy of the study)
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