The demand for customer relationship management (CRM) applications that has softened since the heydays of the dot com revolution is making a rebound from corporate enterprises demanding greater effectiveness from all of their customer touch points. CRM purchases have become a corporate wide initiative with companies moving beyond point solutions toward CRM deployment on a broader scale. However, these organizations are extremely selective in their decision to install CRM software. Vendors, therefore, face the challenge of marketing their solutions in the face of decreased budgets, stringent return on investment parameters, and heightened purchase scrutiny.
CRM vendors need to be aware that organizations seek improvements in tactical, point product areas but in alignment with their overall enterprise strategy. This differs from the late 90’s when there were greater IT budgets and companies purchased CRM applications less strategically and often in response to competitors. It is now imperative for CRM vendors to develop a solid understanding of their target organizations’ customer facing processes and develop solutions that influence their purchase decisions.
Today, organizations demand efficient and effective solutions to address their unique customer interactions problems. They also seek to maximize the productivity of existing CRM software before investing in the new or upgraded versions. Therefore, CRM vendors need to offer automated solutions in areas such as optimizing their contact centers, integration of new CRM applications, and increasing returns from mobile initiatives. Vendors must also build long-term CRM strategies with the end-user organizations to assure a series of deployments, and therefore, a more regular revenue stream for the vendors.
Frost & Sullivan, a leading growth consulting company, is committed in providing clients with strategic tools to overcome tough market conditions and devise successful growth plans. This subscription provides comprehensive evaluation of key market drivers, restraints, challenges, and opportunities. The revenue and competitive analysis, coupled with technology trends, enables CRM vendors to craft accurate marketing plans.
The North American CRM Growth Opportunity Services Subscription enables companies to make informed decisions in order to capitalize on existing and emerging opportunities in the market. Current information and constant contact with industry participants provides up-to-date trends, insights, and market measurements of the U.S. CRM markets.
Frost & Sullivan Growth Partnership Service
Based on extensive and in-depth research, real-world consulting work, and new theories tested in hundreds of companies across many industries, Frost & Sullivan has evolved its Growth Partnership Services (GPS) program that provides established and emerging firms with powerful growth visions. Moving beyond token mission statements, GPS provides an actionable vision to growth consulting partners by illustrating how key intelligence and strategic research based on defined goals can guide day-to-day behavior and overall company direction. The foundation of Frost & Sullivan's GPS includes:
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- Recommending growth management strategies through continuous partnership
To maximize the potential for growth within a firm’s internal and external environment, Frost & Sullivan consultants can facilitate the creation of strategic programs that deliver improved market success. Frost & Sullivan’s strengths lie in combining strategic understanding with market expertise and applying these with absolute commitment to its clients’ growth.