Sunday, 27 April 2008

The Truth is More Important Than the Facts (bis)

... but without the facts, you cant get to the truth. According to a recent global survey funded by Computer Sciences Corp., IBM and D&B, few marketers really have the focus on deriving truths from customer data

Among the other findings of the survey:

  • Forty-five percent of respondents rate the effectiveness of customer relationship management systems as deficient or needing work.
  • Just 15% rate themselves as extremely good or effective at integrating disparate customer data sources and repositories.
  • Only 6% say they have excellent knowledge of their customers when it comes to demographic, behavioral, psychographic and transactional data.
  • More than 31% have churn rates above 10%, and 32% report having customer turnover of 5% to 10%.
  • Thirty-one percent say they don't do data mining at all, and 63% say they are doing only moderate levels of data mining for intelligence and insight.
Two thoughts - becoming a data and insights driven organisation tends to rank highly amongst marketers when asked of their current focus, secondly, organisations are becoming more metrics focussed from the CEO's office to IT (not forgetting HR), is marketing to lag behind?

2 comments:

Joshua Feinberg said...

Mark,
I think the problem with CRM systems is that there's actually too much choice in the market.

It's actually too fragmented. As a result, it's tough for any one player to scale big enough, and drive down the costs enough, for something that could appeal to say 10-25M small business users.

While most ISV's/ASP's have gotten past the notion that a CRM must be client/server, there's still too many that fail to deliver a best of breed solution.

Salesforce has a lot of 3rd party plug-ins, but their platform has priced out a big chunk of the SOHO part of the SMB marketplace.

So, many are slicing and dicing with Excel worksheets to compensate.

The more data has to be re-keyed, the more there will be errors, underutilization, and a poor customer experience.

Eventually these integration and interoperability issues should work themselves out as the market matures. But we're not there yet.

Shijun Lin said...

shijun 4.3 10
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