The 4 cornerstones for CRM retail investment in 2010

13 Jan 2010

Retailers in the US are convinced that customer relationship management (CRM) is one of the most important aspects of their business. However, the sector in general has failed to utilize the full potential of these programs, and the industry will be striving to elevate its CRM game in the future. That's good news not only for customers, but also for the providers of CRM technologies and services.

"Although the implementation of CRM is at different levels among individual retailers, I think that as an industry, retailers have seen the effectiveness of using CRM," Mike Gatti, executive director of the Retail Advertising Marketing Association, told CRM Buyer.

"Those programs not only help retailers understand who their best customers are, they have also helped them focus their spending," he noted. "You can pinpoint your sales programs better and be more effective in areas like targeted direct marketing."

RAMA is associated with the National Retail Federation.

In its Retail Horizons 2008-2009 survey of 400 executives at 153 retailers, NRF found that focusing on customer satisfaction and retention was a primary objective. Traditional marketing, based on merchandising and driving traffic through stores through heavy advertising and discounting, may never disappear - but retailers are now paying equal attention to programs that emphasize the individual customer - referred to as "customer centric."

Read the full article here.