Financial Services Industry
Industry: Email Alert RSS FeedRethinking CRM to make it pay.(Tech topics: Shorts)
ABA Banking Journal, May, 2005 by Valentine, Lisa
Eager to reach out, inspire loyalty, and become more relevant to clients, many financial institutions became gung-ho on customer relationship management, taking on overly big projects and getting budget strain as a nasty side effect. A decade into the grand experiment with CRM, some are projects are still limping around.
But the news doesn't have to be all bad. Bankers can learn from past mistakes and turn those faulty projects around, argued Paul S. Barth, PhD, managing partner of the advisory firm NewVantage Partners, Boston. Barth provided the following suggestions for institutions embarking on CRM initiatives for the first, second (or third) time at BAI's Retail Delivery conference.
Customer viewpoint. CRM is not only a category of technology but a...
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