Maximizing CRM Success Through Performance Measurement
- Topics:
- Strategic Management Tools
- Tags:
- Advertising & Promotion,
- Balanced Scorecard,
- CRM,
- Customer Relationship Management (CRM),
- Enterprise Software,
- Marketing,
- Marketing Research,
- Performance,
- Software
- Source:
- Information Today
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Overview: One of the effective ways of maximizing CRM success is Performance Measurement, using the balanced scorecard approach to drive strategic CRM results. Organizations today are now looking for and applying approaches that help guarantee the success of their CRM initiatives. The balanced scorecard focuses measurement on four inextricably linked strategic performance areas, called perspectives. In a typical balanced scorecard, each perspective will contain four to six key success factors and related measures that will drive overall performance in that perspective and, collectively, enterprise strategic performance. Besides this, successfully implementing the Balanced CRM Scorecard requires the careful planning and execution of five key steps: Define CRM Strategy, select strategic CRM measures, cascade strategic CRM measures, implement CRM Performance Intelligence System and implement CRM Performance Intelligence System. Thus, the balanced scorecard, with the modifications provides a powerful framework for a CRM measurement system. Using the balanced scorecard approach, organizations are able to clearly communicate what's important and where and how each level of the organization contributes to CRM strategy success.
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Format: HTML | Date: Nov 2003 | Pages: 1
