Customer relationship management: Finding value drivers

Despite significant interest from both academicians and practitioners, customer relationship management (CRM) remains a huge investment with little measured payback. Intuition suggests that increased management of customer relationships should improve business performance, but this intuition has onl...

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Bibliographic Details
Published in:	Industrial marketing management 2008-04, Vol.37 (2), p.120-130
Main Authors:	Richards, Keith A., Jones, Eli
Format:	Article
Language:	eng
Subjects:	Business studies Customer equity Customer relationship management Customers Enterprises Equity Management Studies Value Value drivers
Online Access:	Get full text
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Summary:	Despite significant interest from both academicians and practitioners, customer relationship management (CRM) remains a huge investment with little measured payback. Intuition suggests that increased management of customer relationships should improve business performance, but this intuition has only inconsistent empirical or real world support. To remedy this situation, this study identifies a core group of expected CRM benefits and examines their ability to increase a firm's value equity, brand equity and relationship equity which are components of customer equity. Ten propositions explore the anticipated effects of these drivers and form an agenda for future research. These propositions establish a framework for measuring CRM and supporting the link between CRM and performance.
ISSN:	0019-8501 1873-2062