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Hannah Smalltree, Editorial Director
The market for CRM pre-supposes that market participants have a common definition of what CRM is. If there were a common definition, than it wouldn't be too difficult to survey a cross selection of firms to find out how much they are spending on 'CRM', and extrapolate accordingly. However, this won't work in Europe. Our research through Hewson Consulting Limited identifies that only 82% of so-called 'CRM projects' are not CRM but operational installations of efficiency tools - far removed from CRM. So measuring these would give the wrong figure. The current best measure is to use investments in technology multiplied by a factor of 3 (to represent services costs to implement the technology. The technology investment figure comes from vendor revenue data, in the public domain. Plus (and this is big plus) add a figure for the 'opportunity cost' of managers' time involved in implementing CRM. So in short, the answer to the question 'how to measure the market' is 'with difficulty!'
For more information, check out searchCRM's Best Web Links on CRM Around the Globe.
This was first published in February 2001
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