Performance Monitoring of CRM Initiatives

Since the late 1990s CRM has become a buzzword especially among business practitioners and consultants. Companies have invested or are planning to invest huge amounts to implement CRM strategies, tools and infrastructure in order to attract and retain profitable customers in today's increasingly competitive markets. However, the existing academic literature and the practical applications of CRM do not provide definite guidance how to assess the profitability of CRM projects. What is also missing is a comprehensive measurement system that allows a holistic assessment of the ongoing contribution of CRM initiatives to the financial performance of the business firm. The purpose of this paper is to develop a framework for a systematic cost-benefit-assessment and for ongoing performance monitoring of CRM initiatives. Based on well-known methods and instruments for measuring business performance the authors propose an integrated approach to determine and measure the effectiveness and efficiency of CRM projects

[1]  Atul Parvatiyar,et al.  The Domain and Conceptual Foundations of Relationship Marketing , 2000 .

[2]  Peter C. Verhoef,et al.  Customer Equity: Building and Managing Relationships as Valuable Assets , 2002 .

[3]  Alfred Rappaport,et al.  Shareholder Value. Ein Handbuch für Manager und Investoren , 2007 .

[4]  Gernot Moedritscher,et al.  EVALUATING THE LONG-TERM BENEFIT OF CRM-SYSTEMS: A COST-ORIENTED APPROACH , 2005 .

[5]  Duncan McDougall,et al.  Customer valuation as a foundation for growth , 1997 .

[6]  Kenneth L. Bernhardt,et al.  A Longitudinal Analysis of Satisfaction and Profitability , 2000 .

[7]  L. Ryals.  Making Customer Relationship Management Work: The Measurement and Profitable Management of Customer Relationships , 2005 .

[8]  Shan Ling Pan,et al.  Towards a holistic perspective of customer relationship management (CRM) implementation: A case study of the Housing and Development Board, Singapore , 2006, Decis. Support Syst..

[9]  Lutz Kolbe,et al.  Performance Measurement of CRM in Financial Services , 2004 .

[10]  Subhash Sharma,et al.  The Role of Relational Information Processes and Technology Use in Customer Relationship Management , 2005 .

[11]  Darrell K. Rigby,et al.  Avoid the four perils of CRM. , 2002, Harvard business review.

[12]  M. Bruhn.  Wirtschaftlichkeit des Qualitätsmanagements , 1998 .

[13]  Pedro M. Saraiva,et al.  Approaches of Portuguese companies for relating customer satisfaction with business results , 2000 .

[14]  H. Diller.  Customer Loyalty: Fata Morgana or Realistic Goal? Managing Relationships with Customers , 2000 .

[15]  W. Johnston,et al.  An Evaluation of Divergent Perspectives on Customer Relationship Management: Towards a Common Understanding of an Emerging Phenomenon , 2004 .

[16]  C. Fornell,et al.  Why Do Customer Relationship Management Applications Affect Customer Satisfaction? , 2005 .

[17]  C. Moorman,et al.  Strategic Firm Commitments and Rewards for Customer Relationship Management in Online Retailing , 2005 .

[18]  Regina Fischer,et al.  Datenbankgestütztes Kosten- und Erlöscontrolling: Konzept und Realisierung einer entscheidungsorienerten Erfolgsrechnung , 1991 .

[19]  Adrian Palmer.  The evoloution of an idea: An enviromental explanation of realationship marketing. , 2002 .

[20]  Sven Reinecke,et al.  Performance Measurement in Marketing und Verkauf , 2002 .

[21]  A. Payne,et al.  A Strategic Framework for Customer Relationship Management , 2005 .

[22]  Wulff Plinke,et al.  Grundlagen des Geschäftsbeziehungsmanagements , 1997 .

[23]  Marianna Sigala,et al.  Customer relationship management (CRM) evaluation: diffusing crm benefits into business processes , 2004, ECIS.

[24]  R. Kaplan,et al.  Using the balanced scorecard as a strategic management system , 1996 .

[25]  Christian Homburg,et al.  Die Kundenstruktur als Controlling-Herausforderung , 1997 .

[26]  E. Gummesson.  Return on relationships (ROR): the value of relationship marketing and CRM in business‐to‐business contexts , 2004 .

[27]  Hans-Peter Fröschle,et al.  Customer relationship management , 2019, Digital Marketing Fundamentals.

[28]  D. W.,et al.  CUSTOMER LIFETIME VALUE: MARKETING MODELS AND APPLICATIONS , 1998 .

[29]  Lisa O'Malley,et al.  Mapping the re‐engagement of CRM with relationship marketing , 2006 .

[30]  Atul Parvatiyar,et al.  Handbook of Relationship Marketing , 1999 .

[31]  Rajendra S. Sisodia,et al.  Information Technology: Its Role in Building, Maintaining, and Enhancing Relationships , 2000 .

[32]  Richard Köhler.  Kundenorientiertes Rechnungswesen als Voraussetzung des Kundenbindungsmanagements , 1998 .

[33]  C. Fornell,et al.  Customer Satisfaction, Market Share, and Profitability: Findings from Sweden , 1994 .

[34]  Andreas Steffen,et al.  IT-Controlling mit der Balanced Scorecard , 2001 .

[35]  Sonja Grabner-Kraeuter,et al.  Alternative approaches toward measuring CRM performance , 2002 .

[36]  G. Day,et al.  Superiority in customer relationship management : consequences for competitive advantage and performance , 2002 .

[37]  J. Sheth,et al.  The evolution of relationship marketing , 1995 .

[38]  F. Dwyer.  Customer lifetime valuation to support marketing decision making , 1997 .

[39]  S. Albers,et al.  Ansätze zur Segmentierung von Kunden — Wie geeignet sind herkömmliche Konzepte? , 2000 .

[40]  ChalmetaRicardo.  Methodology for customer relationship management , 2006 .

[41]  R. Staelin,et al.  A Customer Relationship Management Roadmap: What is Known, Potential Pitfalls, and Where to Go , 2005 .

[42]  Armin Töpfer.  Gezieltes Customer Relationship Management , 2001 .

[43]  T. Levitt,et al.  The Marketing Imagination , 1983 .

[44]  T. Connolly,et al.  Managing customers for profit , 1995 .

[45]  Ricardo Chalmeta,et al.  Methodology for customer relationship management , 2006, J. Syst. Softw..

[46]  Eelko K. R. E. Huizingh,et al.  The Lifetime Value Concept in Customer-Based Marketing , 1999 .

[47]  Tasadduq A. Shervani,et al.  Marketing, Business Processes, and Shareholder Value: An Organizationally Embedded View of Marketing Activities and the Discipline of Marketing , 1999 .

[48]  D. Peppers,et al.  Is your company ready for one-to-one marketing? , 1999, Harvard business review.

[49]  A. Palmer.  The Evolution of an Idea , 2002 .

[50]  Andy Neely,et al.  Perspectives on Performance : The Performance Prism Professor , 2000 .

[51]  W. Reinartz,et al.  Balancing Acquisition and Retention Resources to Maximize Customer Profitability , 2005 .