For most corporate initiatives to be approved, the sponsor must provide a business case demonstrating the business need, including parameters such as feasibility, costs and schedule. In addition, the sponsor must usually provide a justification, sometimes in the form of a projected return on investment (ROI). Customer relationship management (CRM) projects are no different.
As with other projects, CRM project benefits usually include both tangibles and intangibles. As with other projects, even when the intangibles are obvious and probable, they are often difficult to quantify. Unfortunately, CRM projects are often more challenging to justify simply because a large number of their benefits are intangible. Following are some suggestions for handling CRM project justifications.
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