– The high rate of CRM failures is a matter of concern for business managers. Although the benefits of CRM have been well acknowledged, the manner in which CRM's benefits can be leveraged is still not well understood. This paper seeks to offer an approach that can be used to strategize for CRM in order to leverage the benefits.
– The paper is based on the findings of various authors and by studying the CRM strategy adopted by Tesco to develop a conceptual framework that can be used for strategizing for CRM.
– The contribution of the author of this paper is a conceptual framework that can be used to strategize for CRM. The four stages of the framework are: Engage- Segment-Personalize-Track.
– Only one case study has been referred to.
– The framework can be used by managers who desire to use CRM and leverage its benefits.
– Since the failure rates of CRM are high, it seems that the existing frameworks and approaches are not capable of ensuring success with CRM. It is hoped that this new conceptual approach that basically focuses on four steps – Engage-Segment-Personalize-Track – will deliver on the promise of CRM.
