According to a recent survey from Gartner, Inc. more than three quarters of respondents in Europe said they are planning to enhance their investments in CRM initiatives in 2009. These projects will focus on improving customer retention and increasing wallet share.
Gartner surveyed nearly 90 European business and IT leaders who influenced the CRM strategy in their organization in the third quarter of 2008 and carried out a follow up poll in December.
Gartner estimates that CRM spending in 2009 will not decline as dramatically as it did after 2000, but growth will be more moderate than in previous years. It forecasts that the European CRM software market will reach $3.5 billion (€2.4billion) in 2009, an increase of 4 per cent from 2008.
The survey respondents also reported that their primary objectives for their CRM programs were first, to enhance cross-selling or upselling of products and services, second to increase customer satisfaction and third to increase sales revenue. The only area that saw a notable change in emphasis from the two surveys conducted was an increase in efficiency and reducing cost.
In terms of their CRM technology focus, the majority of respondents indicated that they were not currently looking to select new CRM technologies (40 per cent) and were reviewing existing technologies (32 per cent). Many organizations have gone through their first- or second-generation CRM technology implementation and are looking to optimize or move to a newer product to benefit from new functions and business process support for their CRM strategies.More information on CRM can be found at http://www.crmindustry.com/