Software Tools and Dashboards

Abstract

Although CRM has the potential to provide firms the ability to optimize their marketing budgets and increase revenues, a subpar implementation stage can cost the firm millions of dollars, cause operational inefficiencies, or even drive away customers. In order to avoid these adverse results, firms should recognize and understand the various CRM implementation strategies that are best fitted to their needs. This chapter shows three strategies associated with CRM implementations as being: (1) developing in-house software, (2) purchasing licensed software from a third party vendor, and (3) outsourcing to a managed service provider. As well as identifying them, the chapter investigates the various degrees and methods of customization that exist within each strategy while weighing the costs and benefits of each one. Finally, the chapter describes the implementation of these strategies as two options: (a) Stage wise implementation, and (b) Enterprise-wise implementation, each of which has its own unique advantages and disadvantages. By showing the distinct CRM strategies and the possible methods of implementation, the chapter shows that with careful consideration, a successful implementation of a CRM system can be achieved.