According to a customer relationship management (CRM) survey released by YOUcentric, Inc.,, integration and return on investment (ROI) are important when evaluating a CRM solution and low adoption by users and inability to leverage legacy data were cited as the biggest challenges. The survey, conducted by WebSurveyor and YOUcentric, Inc. in June 2001, polled more than 250 senior executives that are responsible for e-business and CRM service.
Other findings include:
- While 36 percent acknowledged that the ability to integrate with existing technology is most important when evaluating a CRM package, 25 percent responded that a custom-tailored solution built to fit a company's exact needs would be the second most important factor.
- Only 8 percent of those surveyed consider quick deployment to be of critical importance when selecting a CRM package.
CRM ROI was measured by the ability to increase in customer loyalty/retention, productivity and sales.
- Almost 40 percent of respondents indicated that they had seen a solid return on investment (ROI) from their CRM solution and an additional 40 percent said they saw some ROI. However, 20 percent responded that they had not seen any ROI whatsoever.
- More than 65 percent of those surveyed expect CRM to increase sales revenue more than 10 percent. Twenty-seven percent of those surveyed consider CRM successful if it increases sales revenue more than 20 percent.
- Low adoption by users and inability to leverage legacy data were cited as the biggest challenges to CRM implementation. Both weighed in with about 20 percent of the votes.
- Respondents indicated that certain elements would be an impact on the future of CRM. In descending order, they are: proven ROI; mobile/wireless access; multichannel capabilities; voicetop; other.
YOUcentric plans to use the survey data to assist customers with proper CRM solutions that increase competitive advantage. Headquartered in Charlotte, N.C., YOUcentric supplies e-business relationship management software to customers that include Agribank, Aluminium.com, Bank of America, EyeMed, FedEx, Integrated Benefits Solutions (division of Educators Mutual Life), Harcourt, IPC Media, McGraw-Hill, Northern Trust, Rainmaker Systems, Riverstone and Synchrologic.