Spotlight on CRM

Tom Keenze - August 14, 2000

CRM Stakeholder Management

The concept of Customer Relationship Management (CRM) is not new. What is new is the technology that enables good CRM, and it is getting better every day. The company that created the latest in technology bills it as eBusiness Relationship Management. We’ve come a long way, baby!

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For those of you who are new to CRM, let's start with a reasonable definition for this area of business strategy that seems to be so very important to success. Dick Lee, principal of Minneapolis-based High-Yield Marketing and author of The Customer Relationship Management Planning Guide, has a good one. He describes CRM as a customer-centric business strategy that drives changes in functional roles in the company, ultimately demanding re-engineering of work processes, all of which is supported--not driven--by CRM technology.

Why should you be interested in CRM? Clearly, with the improvement in the quality of products and services resulting from previous waves of enlightenment, it is now very difficult for a company to differentiate its product or service based on quality alone. Today,…

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