CRM Customization Initiatives Improve Key Sales and Customer Metrics
Market Wire, June, 2008
Customizable applications and software developer kits allow for better information management and data collection; as a result, top organizations are using these technologies to customize and configure their core CRM solution to mirror unique business processes. In an increasingly competitive marketplace where companies are challenged to obtain a 360-degree view of the customer, businesses are customizing CRM solutions to integrate data from customer-facing groups, as well as increase the level of internal visibility into sales processes. A recent study, Tailor-Made CRM: Best Practices in Customization, Configuration, and Integration, conducted by the Aberdeen Group, a Harte-Hanks Company (NYSE: HHS), revealed that Best-in-Class companies are 2.4 times more likely than Laggards to leverage a data integration solution to support CRM customization initiatives; the result is increased performance in data entry, data retrieval, and ease of maintenance.
The top two objectives of an organization's CRM customization initiative stem from the most fundamental of business drivers: to attain and keep customers. The need to improve customer retention (36%) and the need to improve customer acquisition (36%) were identified by all respondents as the top two objectives of a customization initiative. Best-in-Class companies indicated that they currently utilize data integration solutions (47%), contact management solutions (50%) and sales knowledge management solutions (38%) to increase the effectiveness and functionality of the core CRM solution. As a result of technology implementation and integration, Best-in-Class companies are more than 5 times as likely as Laggards to experience year-over-year improvement in customer retention levels.
"Today's busy consumer expects a heightened level of customer service. The result is a rapidly changing CRM landscape where the traditional sales-centric use of CRM solutions will be supplemented by a number of disparate data sources containing consumer information," explains Alex Jefferies, Senior Research Associate at Aberdeen. "The ability to customize the core CRM solution affords businesses the opportunity to directly weave their unique business processes with third party data sources. In doing so, companies enable sales representatives to have access to more than just the contact information of a current client or prospect," concludes Jefferies.
The report demonstrates the value of collectively leveraging organizational practices in process, performance measurement, knowledge management and technology to provide a foundation for CRM success. By combining processes for data sharing between customer-facing groups (47%) and dedicated CRM support resources (47%), Best-in-Class compaines are able to maximize the effectiveness of their sales force by customizing the CRM solution to match unique business processes.
The research educates readers about the value of CRM customization and configuration initiatives. The report also identifies Best-in-Class performance as a result of CRM customization compared to the Industry Average and Laggards and the difference in capabilities and technology use among maturity classes.
A complimentary copy of this report is made available due in part by the following underwriters: Bluewolf and SugarCRM. To obtain a complimentary copy of the report, visit: http://www.aberdeen.com/link/sponsor.asp?cid=4651 .
About Aberdeen Group, a Harte-Hanks Company
Aberdeen is a leading provider of fact-based research and market intelligence that delivers demonstrable results. Having benchmarked more than 30,000 companies in the past two years, Aberdeen is uniquely positioned to educate users to action: driving market awareness, creating demand, enabling sales, and delivering meaningful return-on-investment analysis. As the trusted advisor to the global technology markets, corporations turn to AberdeenTM for insights that drive decisions.
As a Harte-Hanks Company, Aberdeen plays a key role of putting content in context for the global direct and targeted marketing company. Aberdeen's analytical and independent view of the "customer optimization" process of Harte-Hanks (Information - Opportunity - Insight - Engagement - Interaction) extends the client value and accentuates the strategic role Harte-Hanks brings to the market. For additional information, visit Aberdeen http://www.aberdeen.com or call (617) 723-7890, or to learn more about Harte-Hanks, call (800) 456-9748 or go to http://www.harte-hanks.com .
© 2008 AberdeenGroup, Inc., a Harte-Hanks Company 451 D Street, Suite 710 Boston, Massachusetts 02210-1928 Telephone: (617)854-5200 Fax: (617) 723-7897 www.aberdeen.com
Media Contact: Alex Jefferies Aberdeen Harte-Hanks (617) 854-5337 alex.jefferies@aberdeen.com
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- Design a commission plan that drives sales - Sales Commissions
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
- Getting the global view: Nestle, led by Peter Brabeck-Letmathe, climbs to the #1 spot in this year's Best Companies for Leaders




