Interestingly enough I though last week about re-reading and looking at how my initial thoughs on the Impact of CRM on Market Research drove the initial development of crmmetrix and of our website impact monitoring solution SiteCRM, to look of how much was done, and how much was done by the Industry to catch up. And in fact, yesterday I just saw a tweet from the ARF (@The_ARF) asking about the Impact of CRM on MR.
It seems that the 10 Years old paper we wrote with my old fellow Rex Briggs is, I believe, still very relevant, at that time we won in the Esomar Fernanda Monti (2001). Rex we should reconnect and look at latest developments of common interest and show the way for the next 10 years to come! :)
Below are the paper abstract, free download, and one of my most famous Bill Gates' quote... thanks in advance for your comments, as well as your ideas I think there opportunities to re-open the discussion and debate on the topic with the inclusion of social media. Special Panel at a conference? Invited speech, etc.?
Looking forward to your ideas!
BEYOND DATA GATHERING: Implications of CRM Systems to Market Research.
The authors of this paper argue that the rise of new technologies such as databases and the Internet offer both new challenges and opportunities to the market research industry. At a time when CRM is reported to have grown more than 30% a year with projected total revenues of $12.1 billion by the end of 2001, it is noteworthy that few traditional market research firms have seized the opportunity. Despite embracing the Internet for data collection, few research companies have been able to translate research technology and talent to take advantage of this huge business opportunity. Although data collection is a key benefit of the Internet, a bigger potential benefit is the delivery of information and insights to decisions makers via the Internet. The emerging CRM industry makes this a central goal and is reaping the benefits. The paper presents both theoretical and case study findings that offer a new way to relate to market research that can potentially bring the research industry to the top of executives’ priority list.
and As Bill Gates recommended more that 10 years ago in Business at the Speed of Though, still one of my best business books today:
“Companies that invest early in digital nervous systems to capture, analyze, and capitalize on consumer input will differentiate themselves from competition. You should examine customer complaints more often than cmpany financials. And your digital systems should help you convert bad news to improved products and service.”