Spending on customer relationship management (CRM) will soar from $23 billion in 2000 to $76.3 billion in 2005. This estimate from Gartner assumes that clients committed to CRM will be successful in reaping the greatest returns on their investments.
To achieve these elevated returns, companies implementing CRM will have to view their markets as consisting of buyers with differing needs, economics and propensities to try new products and services. Cost-effective and profitable CRM, whether in B2B or B2C, is linked to an in-depth understanding of each customer's motivations. Knowing why targets want a product or service and the meaning it has for them enables companies to target only receptive customers in their databases.
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