Title: Two interrelated frameworks proposed for mapping and performance measurement of customer relationship management strategies
Authors: Panagiotis I. Soukakos, Nikolaos B. Georgopoulos, Victoria Pekka-Economou
Addresses: Customer Relationship Management (CRM), Roche (Hellas), SA, Greece. ' Department of Business Administration, University of Piraeus, 80 Karaoli and Dimitriou, Piraeus 185 34, Greece. ' Department of Business Administration, University of Piraeus, 80 Karaoli and Dimitriou, Piraeus 185 34, Greece
Abstract: One of the major developments within today|s business practice is the increasing interest in Customer Relationship Management (CRM). The strategy known as CRM optimises values as profitability, revenue and customer satisfaction (what and why) by organising around customer segments, fostering customer-satisfying behaviours and implementing customer-centric business models (how). CRM technologies should enable greater customer insight, increased customer access and more effective customer interactions (outcomes). In the last years, however, scepticism has replaced the initial enthusiasm about CRM. Many of the CRM initiatives fail for a number of reasons; three of the most significant ones are the following: (a) the board has little customer/CRM understanding or involvement, (b) lack of specifically designed strategy and (c) no measures or monitoring of benefits derived from CRM. To date, the body of research on CRM has ignored these strategic implementation issues. This paper exhibits a methodology for the development, mapping and performance measurement of CRM strategies. In the context of this methodology, two frameworks are introduced.
Keywords: customer relationship management; CRM strategy; strategic management; strategy performance measurement.
International Journal of Knowledge and Learning, 2007 Vol.3 No.2/3, pp.299 - 315
Published online: 29 Oct 2007 *Full-text access for editors Access for subscribers Purchase this article Comment on this article