In general, all companies use Customer Relationship Management, or CRM, to track and organize contacts with their current and prospective customers, improve services provided to those customers or with the aim of using their contact information for targeted marketing.
But what are the applications that CRM include? Sales automation, marketing automation, contact center, analytic applications, and customer service are some of these applications.
More specifically, it looks like that the telecom companies are adopting customer oriented approach in order to retain their customers and the demand for hosted/SaaS CRM as compared to packaged CRM is increasing considerably. A recent study published by ˜TechNavioTM™ states that the worldwide CRM applications market in telecom sector was $1,349 million in 2008 and is estimated to reach $1,582 million by 2011 at a CAGR of 5.5 percent.
In 2008, 70-80 percent of the CRM spending included campaign management, sales force automation, and contact center/call center operations, comments one of the TechNavioTM experts, who clarifies that around 12-16 percent of the total CRM revenue is contributed by the telecom sector.
If you get to manage your CRM well, you will count on good insights into the sales cycle, project schedule, performance metrics, purchasing criteria, and client expectations within your industry.
Read more about this report under: https://www.technavio.com/content/global-telecom-crm-market-2008-2011
About the CRM and the Telecom Vertical
