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How Do You Measure Success?
CRM magazine, in partnership with strategic CRM measurement and improvement firm CRMetrix, invited readers to evaluate their organizations' CRM measurement systems against CRM measurement best practices. More than 260 executives responded to the survey. Fifty-four percent say their implementation is live, 15 percent of them are in the process of deploying CRM, and 31 percent of them are still in the planning stage.
For the rest of the November 2003 issue of CRM magazine please click here
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CRM magazine, in partnership with strategic CRM measurement and improvement firm CRMetrix, invited readers to evaluate their organizations' CRM measurement systems against CRM measurement best practices. More than 260 executives responded to the survey. Fifty-four percent say their implementation is live, 15 percent of them are in the process of deploying CRM, and 31 percent of them are still in the planning stage.
Selecting Strategic CRM Measures The measures we track reflect CRM performance for:
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Defining CRM Strategy Who says departmental executives can't get along? Nearly half (45 percent) of the respondents say their senior leadership team members are clearly in agreement about their organizations' CRM strategy/objectives and how they will be achieved. However, 23 percent disagree with that sentiment. About one third of respondents agree that their senior leadership team has clearly communicated to the rest of the organization its CRM strategy/objectives and how they will be achieved. But another 35 percent of them say that this is not the case in their company.
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Linking Strategic CRM Measures Two thirds of respondents say that for each CRM function within their organization (sales, marketing, and service), CRM performance measures are directly linked to process/function measures, department-level measures, team-level measures, and employee-level measures. However, only 28 percent of them agree that managers, supervisors, and employees can access real-time and historical trend performance for their assigned CRM measures, and only 23 percent of them say that managers can drill down into the components of any performance measure to determine the root cause of performance shortfalls. The likely reason for this, based on the responses, is that only 21 percent of respondents' CRM performance-reporting solutions perform statistical analysis that helps identify key performance linkages.
Although companies measure CRM performance, fewer than 20 percent of respondents say that rewards at each level are linked to performance on strategic CRM measures, and only one quarter of them agree that each employee knows precisely how his/her daily actions impact their organizations' strategic CRM performance. Formal budgeting is tied directly to strategic CRM initiatives.
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To contact the editors, please email editor@destinationCRM.com
Every month, CRM magazine covers the customer relationship management industry and beyond. To subscribe, please visit http://www.destinationCRM.com/subscribe/.
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