| Measurement (2008) | |||||||||||||||
Abstract | |||||||||||||||
| Customer Relationship Management (CRM), a management philosophy that focuses on the nurturing of customer relationships, emerged as a response to decreasing customer loyalty and increasing competition. Implementing CRM is expensive, as it demands high investment in organizational change activities and information technology (IT) and companies thus expect visible, measurable results. But companies not only have trouble assessing the results of their CRM initiatives but also with managing the performance of their CRM initiatives. The majority of financial services companies in Germany and Switzerland have, with varying success, conducted customer relationship management implementation projects. In this paper we analyze several case studies on CRM in Swiss and German banks with regards to performance measurement and related challenges. We aim to reveal the reasons for and consequences of common practices and shortcomings regarding CRM implementation. | |||||||||||||||
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