Measuring ROI: Art or science?

Measuring the Return on Investment from our companies CRM initiative seems very much like an art, will it ever be a science?

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It will take awhile until we can consider measuring CRM ROI a science. After all, CRM is really about creating long-term customer loyalty, and this takes time to play out -- often years! However, as more and more of the initiatives at CRM visionary companies mature, the true impact of CRM will become "knowable" in many metric areas -- as long as some of these companies are willing to share their results. In the meantime, the recipe for measuring CRM's expected or estimated impact will have to include a combination of "directional" data, information and data from third-party sources, and conservative estimates agreed to by cross-functional executives and teams within a firm.

This was first published in January 2004

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