48 per cent of businesses plan to increase their CRM budget in 2013

Published on 05 March 2013 by in Latest News

CRM investment increasing customer service 48 per cent of businesses plan to increase their CRM budget in 2013

Despite economic conditions placing pressure on many brands, it appears customer relationship management remains a key focus for the majority of businesses in 2013. New findings from research firm Gartner reveal 48 per cent of organisations plan on extending their CRM budget this year to boost customer satisfaction, with only five per cent looking to cut back on CRM investment.

This represents a marked contrast with survey data from previous years, where many brands considered reducing spend to be one of the top priorities. Rather in 2013, companies are now willing to improve the level of service, through increased CRM budgets.

“The upward trend we are witnessing confirms organizations’ commitment to improving the management of their customer relationships,” commented Gartner research director, Jim Davies.

The report finds achieving a single-person view of each consumer and being able to better handle and interpret customer data are some of the most cited objectives and challenges for the immediate future of CIM. This suggests brands have realised the potential benefits that arise from a thorough understanding of their customers and the ability to personalise buyer experience on an individual basis.

Beyond simply enhancing the way firms respond to consumer queries however, advances in CRM systems also allow companies to better engage customers to drive repeat custom, as marketing and customer service become increasingly intertwined.

As expressed by Davies;

“Investment in technologies that drive sales and marketing performance, such as lead management software and digital marketing, will be complemented by technologies that can help deliver, and understand, a consistent cross-channel customer experience.”

Davies warns that the task of keeping track of each consumer’s preferences and behaviour has become much more complicated in recent years, as the growth of digital, mobile and social media has vastly extended the range of possible communication channels.

Contact numero to learn more about delivering a consistent customer experience, however your customers choose to get in touch.

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