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Customer Relationship Management (CRM): What Are the Right Metrics to Measure Success?

Published by: TowerGroup

Published: Apr. 1, 2000 - 13 Pages


Table of Contents


Highlights

Introduction

Background

  • Common Measures of CRM Today: Largely Suboptimal
  • CRM Measurement Issues

    Adapting a Balanced Scorecard for CRM Metrics

  • Proposal for Developing a CRM

    Conclusion

    Abstract

    Until relatively recently, FSIs have been more concerned with cost justifying their investments in CRM-related technology than they have been with measuring the success of their implementations. As more institutions have moved beyond project initiation, developing metrics for accurately measuring CRM success need to be defined. This Research Note looks at the pitfalls of some commonly used measures of CRM efficacy and creates a prototype "balanced scorecard" for measuring CRM success.

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