The variations in CRM strategies from one business sector to another are often a simple differentiation of customer relationship strategies as they relate to products and services.

These benefits begin with the development and implementation of a data warehouse, the first technology step in the evolution to a CRM strategy. Some benefits are available once the data warehouse has been implemented and data has been stored and organized for analysis, while others will follow with a full CRM implementation.

Typical Data Warehousing Features

There are some general features of data warehousing and CRM implementations that apply to any organization, wherever there are customers, and no matter what business sector they are in. Here are some examples:

• Benchmarking -- comparing sales organizations or departments against each other and against prior periods to identify good performers and those needing additional “coaching”
• Customer one-to-one marketing -- identifies unique interests of potential customers based on purchase patterns
• Direct marketing -- based on tracking responses and householding, the cost of mailings can be reduced
• Identifying opportunities -- cross-selling additional products across lines of business
• Customer profitability -- identifies the total cost of doing business with individual customers based on the type of products, usage of discounts, selling time and effort, and logistics costs
• Initiative management -- for new product or promotional initiatives, the ability to gather information in real-time across functions, can allow mid-campaign adjustments or campaign termination that can save a significant portion of the campaign’s value or cost

Determining the ROI for a CRM Solution

Ultimately, most organizations will want to have effective ROI/business benefit measurements to evaluate the implementation of a data warehouse and a subsequent CRM solution. This can be accomplished most effectively by looking at the ledger before and after the technology is implemented, and comparing costs and revenues.

• Bond High Market Yield

• Web Marketing Articles

  Home; Products & Services. Web Traffic Pack; Search Engine Ranking Pack; Social Marketing Pack; Blog Marketing & Promotion; Shopping Website Links; Article Marketing

• Advertising And Marketing Techniques

• Sample Cover Letter For Marketing Position

• Par Marketing