01 Feb 2010

CRM 'a priority for 2010'

Customer Research Management (CRM) could be the buzzword for boosting data management this year, it has been claimed.

Joshua Weinberger, managing editor of CRM magazine, said boosting customer retention has been found to be the highest priority for companies in 2010 and CRM systems could help them achieve this.

As a result, the uptake of new clients is being put on the backburner for many firms as they look to consolidate their customer base and ensure they do not lose out on market share to their competitors.

He commented: "The more encompassing the strategy, the more able the CRM system is to knock down those dreaded departmental silos everyone claims they're ready to do away with."

According to a recent report by Gartner, major growth areas over the coming year will likely be software-as-a-service and CRM analytics, with the CRM market forecast to increase by 0.7 per cent in comparison to figures from 2009.