The New Reality for Customer Engagement
Date: 5/31/2018 @ 1 p.m. ET
It's critical to remember that CRM is not an event, it's a process, and one that can take a significant amount of time before the benefits are seen. Given the strategic and potentially revenue-enabling nature of CRM, it's probably no surprise that so much time is devoted to figuring out exactly what to do, how to do it and with whom to do it. The result can be completion delays and cost overruns.
Respondents say their typical CRM project took more than 15 months, with more than half of that time being spent on upfront consulting, planning and vendor evaluation/selection.
Respondents say it took about 7.6 months to achieve value realization, with small companies typically seeing value realization after 6.8 months, while large companies took 8.1 months. But 20 percent of small companies took 12 months or longer to realize value, and that number rose to 38 percent among large companies.
Many respondents are experiencing delays in completing CRM projects as well. Half of the CRM projects at small companies were completed behind schedule, and for large companies, that number rose to 72 percent.
The scope of CRM projects often expands during implementation, especially for larger companies.More than half of all respondents said the scope of their project increased moderately or significantly after the project began; 58 percent of those in large companies cited "project creep "as a factor.
Why did the project scope change so often? Company strategy changed (45 percent), followed by new input from vendors or consultants (37 percent) and changes in the project 's personnel (35 percent). Half of the respondents said their projects cost at least 10 percent more than the original projection, while 58 percent of CIOs at large companies faced cost overruns.
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