The respondents to the March survey include 110 high-level business executives from large- and mid-sized companies (defined as US$300 million in annual sales) as well as new entrants.
For both business and consumer customers, 47 percent agree that retention is of the highest priority. Sixteen percent of business customers believe that acquisition is key, while 27 percent of consumer customers believe it has a higher importance.
Other important findings include:
- Fifty-three percent of business customers believe that their company is doing an excellent job of retention. Forty-five percent of consumer customers are confident about their performance.
- Thirty-one percent of B2B customers have a reward or incentive program in place compared to 25 percent in the B2C arena.
- Telephone and dedicated account teams are the most frequently used customer service channels for business customers, while telephone and online are the most frequently used for consumers. The phone is also the top tech support channel for both business and consumer customers.
- In e-business overall, more than 80 percent indicate they currently have or are planning to have a CRM strategy.
- Forty-five percent have integrated or plan to integrate CRM enterprise-wide.
- Cost is most frequently identified as a major barrier to successfully integrating CRM enterprise-wide. Lack of internal skilled resources and lengthy implementation are also rated as substantial barriers.
The survey was conducted by Knowledge Systems & Research Inc.