Gartner suggests five CRM strategies that cost little or nothing
1 min read
Companies that fail to invest in CRM strategies because of tough times will delay benefits by at least 12 months when the economy recovers, according to Gartner.
The analyst suggests that lessons learned from previous downturns indicate that 40% of companies will use the current economic recession as an opportunity to generate post-recovery growth through CRM.
"Just because times are tough and budgets are being cut, companies should not think that means no CRM investment," insists Scott Nelson, managing vice president at Gartner.
"Companies need to think in terms of spending smarter, not spending less. There are zero, or low-cost strategies that can be implemented now that can make all the difference, generate competitive differentiation and not draw the attention of the CFO."
He suggests: creating online communities of customers via emerging social media; using analytic tools to find best business models; reviewing your market segmentation using the CRM database; improving customer processes; and conducting an organizational redesign.
"At the end of the day, CRM is all about change. Changing from product to customers, changing age-old processes, changing enterprise mindsets, and changing how companies relate to customers," says Nelson. "All of this can be done without new systems, and the challenging economic environment may give companies just the chance they have been waiting for."
