many marketers have been confused by buzz words used to describedatabase marketing, including crm, one to one, relationship marketing,etc. some crm proponents seem to argue that all you need for successfulmarketing is a huge data warehouse, and advanced drill-down software.what a mistake!
. aqumulate provides data aggregation from more than 10,000 institutions that integrates with third party crms like redtail crm or moneyguidepro.
along with its current team of 14 employees, squire said cardfree is also partnering with several companies to augment its crm, loyalty and technology capabilities. partners companies are boston-based crm and loyalty company restaurant scientist; snapfinger, a mobile application and menu development company based in atlanta, ga; and profitstreams, a denver-based crm and technology company.
“a great blog from esteban kolsky and company about customer relationship management [crm], social media and where it is going.esteban has some interesting views on technology.it always keeps me thinking.”
in the first place, what is crm? it usuallyconsists of building a massive data warehouse which is accessed byexpensive crm software such as e.piphany or siebel. many companies havespent more than $20 million on the warehouse and another million or moreon the software. the software is supposed to use the database to selectprospects and customers for promotions at strategically crucial momentsin the customer’s life cycle.
we must keep in mind that customercommunications, which are triggered by crm or a database, produceonly incremental results. you are already selling something. youhope to sell more and keep customers longer using the database andcommunications. the incremental sales are usually only slightly morethan the sales you would have gotten without the database and thecommunications. you have to justify your crm based not on totalsales, but on these incremental sales.