Infocusselling’s Blog

July 20, 2008

CRM as an Investment

CRM as an Investment in Growth and Profitability*

by Jeffrey Bowe

Customer Relationship Management (CRM) is typically thought of as the software package that keeps track of your customers and all of your communications with those customers. While CRM is that, it is more importantly the complete set of all activities, which are used to collect data from and disseminate information to customers and prospects. A recent survey asked respondents how marketing would be different in the year 2020 and 84% felt one to one marketing will increase. (Carlson Marketing Worldwide, 2008) This is a pendulum swing from the 1970’s to 1990’s when mass marketing became the rage. CRM is about understanding customers in today’s global economy the same way the neighborhood grocery store did in the 1950’s where the local storeowner understood how his customers spent money, what they liked, and what they did not like. (Groves, 2002) 



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