CRM Strategy can be key to surviving economic slowdown 50608

CRM Strategy can be key to surviving economic slowdown...

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TM Presented by: Vendor Guru Meeting Economic Challenges with Customer Relationship Management Strategies by Richard Barrington
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Page: 1 Contents Introduction. ................................................................................................................................................. 2 Business Strategies for a Slowing Economy. ............................................................................................... 2 CRM Strategies for a Slowing Economy. .................................................................................................... 3 1. Shoring up the top line by increasing market penetration. . ......................................................... 3 2. Addressing the expense lines by emphasizing high-ROI investments. ........................................ 3 Reality Check: Managing CRM Investment Under Tight Budget Conditions. ............................................ 4 CRM System Case Studies. .......................................................................................................................... 4 Conclusion. ................................................................................................................................................... 4 Sources. ........................................................................................................................................................ 5 About the Author. ......................................................................................................................................... 5 ©VendorGuru.com All Rights Reserved www.vendorguru.com
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Introduction New initiatives are often the Frst victims during times of economic stress, whether those difFculties are at the company level or come from the broader economy. Those cuts can be short-sighted, since new initiatives may be exactly the game-changers a company needs to pull it through hard times. A prime example would be customer relationship management (CRM) initiatives. CRM strategies-whether new to a company or already installed-can make some critical differences that help a company survive economic setbacks. Of course, the temptation to put off projects like installing CRM software is understandable when economic conditions are tight. New capital investments may be unpopular, and training initiatives to advance CRM adoption may be seen as stretching already strained resources. Even so, if a company were to analyze strategies for not only surviving a downturn, but possibly even beneFting from one, it may conclude that investment in a CRM system is an important component of a plan to return to economic health. This white paper will examine some basic business strategies for economic downturns, and discuss where a CRM emphasis Fts into those strategies. Business Strategies for a Slowing Economy
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This note was uploaded on 03/12/2010 for the course ECON CRM taught by Professor Prof during the Spring '10 term at École Normale Supérieure.

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CRM Strategy can be key to surviving economic slowdown...

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