Customer Relationship Management

Paper Summary:

The paper defines those areas where CRM and marketing are interconnected and, in the case of specific strategies, dependent on each other for results. The paper defines CRM as the infrastructure that enables the delineation of and increase in customer value, and the correct means by which to motivate valuable customers to remain loyal and purchase again. The paper concludes that the integration of CRM data and marketing strategies is critical to the success of a company's marketing, selling and overall growth opportunities.

Outline:
Executive Summary
Defining CRM
CRM's Impact on Marketing
Summary

From the Paper:

"What had begun as a series of applications aimed at capturing customer information has transformed into a series of strategies for attracting, selling, and serving customers. This transformation of CRM has been directly attributable to the change in which members of organizations are acquiring the software. When CRM was first created IT Departments were the first customers, and the key success criteria of IT are quite different than line-of-business executives who have profit-and-loss responsibilities for their companies. These line-of-business executives have transformed CRM from a series of applications to a series of strategies supported by applications, and this is a critical point in the evolution of this area overall."

Sample of Sources Used:

• AMR Research 2005 - Hosted CRM Revenues Increase 105% in 2004. AMR Research. Boston, MA August 23, 2005. http://www.amrresearch.com/Content/View.asp?pmillid=18600
• Dyche', Jill - The CRM Handbook. Addison-Wesley Pearson Education. ISBN 780201-730623. Upper Saddle River, New Jersey. 2002.
• Columbus 2003 - Re-evaluate How Your Measure Your Channels' Performance. AMR Research. Boston, MA December 2, 2003http://www.lwcresearch.com/filesfordownloads/ReevaluateHowYouMeasureYourChannelDec2003.pdf
• Computer Business Review Online, June 2006 - Gaining Value from Software As A Service. Computer Business Review Online Angela Eager. June 7, 2006. http://www.cbronline.com/article_cbr.asp?guid=8B4B1CF1-D83A-45A5-856C-C391F2BD69F4
• Gartner 2001 - Eight Building Blocks of CRM: A Framework for Success. John Radcliffe. December 13, 2003. Gartner Group. Groton, CT. http://www.gartner.com/2_events/crmawards/2005/buildingblocks.pdf

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