| Request a sample from "The Infoshop", another service of Global Information.
|
SUMMARY
Shift from Product-centric to Customer-centric Strategies calls for
Increased Use of Marketing & Customer Analytics
Customer retention and customer wallet-share growth are the most pressing pain
points in business-to-consumer (B2C) industries such as financial services,
telecommunications, and retail. It is essential for these enterprises to
understand their most important customers and the strategies required to
expand and maintain their customer base. Campaign strategies are shifting from
product-centric, mass-marketing approaches that are more effective for
aggressive new customer acquisition, to customer-centric, one-to-one marketing
approaches that enhance customer loyalty. Marketing and customer analytics is
central to effective customer segmentation that will enable enterprises to
identify their best customers and determine the ideal tactics and strategies
to maximize near-term and long-term customer value.
This Frost & Sullivan research service covers the North American CRM analytics
markets. The study examines the key application markets across function and
industry. It also forecasts market drivers and restraints and analyzes vendor
solution offerings and strategies in a competitive framework.
The Changing Role of the Contact Center Drives Demand for CRM Analytics
As margins and differentiation on products is declining, companies are turning
toward customer experience to drive competitive advantage and customer
loyalty. The role of the contact center is evolving from merely servicing
customers to playing a key role in customer retention and growth. Companies
are increasingly integrating real-time analytics to support up-sell,
cross-sell, and retention programs. Because of the sheer impact a real-time
customer interaction can have on retention and growth opportunities, service
analytics will be crucial in the CRM analytics market.
"Financial services and telecommunications represent the highest spending
industry verticals in CRM analytics, contributing to about 50 percent of the
North American CRM analytics markets in 2004," notes the analyst. "While
customer wallet-share growth continues to be the hot button in the financial
services industry, in the case of telecommunications, customer churn
management is the primary driver for spending."
CRM Portfolios with Analytic Applications Set to Increase Market Share
CRM vendors, business intelligence (BI) & analytics vendors have adopted
different approaches to CRM Analytics - top-down in the case of the former,
and bottoms-up in the case of the latter. CRM vendors focus on providing
pre-built analytics for their operational CRM applications, while BI &
analytics vendors concentrate on providing tools for enterprises to build
analytical capabilities ground up.
The CRM analytics market in North America grew by 15 percent from 2003 to
2004. The market for CRM vendors grew by 20 percent while the market for BI &
analytics vendors grew by 11 percent over this period. While both groups have
shown impressive growth rates, the CRM vendors have managed to capitalize the
most from the opportunities that the market presented. "CRM vendors need to
demonstrate credibility on the issue of data integrity by appreciating the
heterogeneity of the analytics environment, while BI & analytics vendors need
to improve CRM competencies for business decision makers," says the analyst.
TABLE OF CONTENTS
1 NORTH AMERICA CRM ANALYTICS MARKETS
Introduction and Executive Summary
- Introduction
- Executive Summary
Market Segmentation
- Market Definitions
- Market Segmentation by Functional Segment
- Market Segmentation by Industry Vertical
Demand Analysis - Vertical Markets
- Vertical Market opportunities for CRM Analytics
- Financial Services
- Telecommunications
- Retail
- Travel and Hospitality
2004 North America CRM Analytics Market
- Definitions - Market Metrics
- Market Size for CRM Analytics
- Software Revenues by Functional Segment
- Software Revenues by Industry Vertical
- Software Revenues by CRM Vendors versus BI & Analytics Vendors
Market I : North America Total CRM Analytics Market
- Market Drivers
- Market Restraints
- Market Forecasts
Market II - North America Sales Analytics Market
- Market Drivers
- Market Restraints
- Market Forecasts
Market III - North America Marketing & Customer Analytics Market
- Market Drivers
- Market Restraints
- Market Forecasts
Market IV - North America Service Analytics Market
- Market Drivers
- Market Restraints
- Market Forecasts
Forecast Summary
- Forecast Summary
- Conclusions
Competitive Analysis of Vendors
- CRM Analytics Vendor Marketplace
- CRM Vendor Peer Group - Featured Vendors
- BI & Analytics Vendor Peer Group - Featured Vendors
Strategic Recommendations
- Strategic Recommendations for Vendors
2005 Frost & Sullivan Awards for CRM Analytics
- Frost & Sullivan Award for Product Innovation
- Frost & Sullivan Award for Customer Service Leadership
- Frost & Sullivan Award for Technology Leadership
- Frost & Sullivan Award for Product Differentiation Innovation
|
