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CMO Council finds marketers falling short in CRM practices

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Palo Alto, Calif.—Global marketers are falling short in their efforts to retain and improve relationships with customers, according to a new study by the Chief Marketing Officer Council.

The study was based on an online survey of more than 450 global marketers, conducted in the fourth quarter of 2007 and the first quarter of this year.

It found that only half of global marketers report having a strategy in place for further penetrating or monetizing key account relationships.

Only 15% of marketers rated themselves extremely good or effective at integrating disparate customer data sources; 45% rated their current CRM systems as deficient or needing more work.

The study also found that 31% of marketers had customer churn rates of more than 10%, and 32% reported churn rates between 5% and 10%.

—Kate Maddox

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