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Study Shows Top Performing Retailers Involve More of the Company in CRM Initiatives

August 26, 2009

The use of customer relationship management (CRM) tools within a company can go a long way for delivering a higher quality experience for the customer, while also driving increased revenue for the company. Now, new RSR Research shows better performing retailers involve much more of their company in CRM initiatives than their lower performing peers.


"Not only do better performing retailers - what RSR calls Retail Winners - engage more of their company in CRM initiatives, they also do more to track the performance of customer programs and the overall health of their customer relationships," said Nikki Baird, RSR managing partner and co-author of the report.  

"In today's economic environment, retailers have to do everything they can to drive sales. Our research found that keeping up with shifting consumer behavior and both attracting and retaining customers are some of retailers' biggest challenges for customer programs today,” Baird said.

"Unfortunately, 'CRM' has come to mean something negative within many retailers today," said Steve Rowen, Managing Partner at RSR and co-author of the report. "But the amount of customer data that is available and the speed at which consumer behavior is shifting means that without some kind of automation to track and analyze it, retailers are going to be lost."

CRM solutions have gained much more attention as of late. Companies are struggling against a rough global economy and finicky customers. When CRM solutions are employed, a company can have a better grasp on the customer base and generate loyalty.

In fact, companies such as CoreMatrix are crediting CRM solutions for their current growth. Despite the constant reports of losses and job cuts, there are companies prospering as a result of growing demand in their industries, and simply treating the customer right.  

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Susan J. Campbell is a contributing editor for ContactCenterSolutions and has also written for eastbiz.com. To read more of Susan’s articles, please visit her columnist page.

Edited by Stefania Viscusi

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