Boston, MA, June 24, 2009
– A new report from Aite Group, LLC identifies why customer relationship management (CRM) efforts have failed to help banks achieve their marketing goals thus far, and forecasts bank spending on CRM spending through 2012. The report describes the next generation of CRM applications and how banks should deploy these apps to create a new marketing competency, which Aite Group calls "sense-and-respond" marketing.
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After years of CRM investments that have failed to improve customer loyalty, Aite Group believes that banks' spending on CRM will stagnate until the end of 2009. According to the CRM vendors interviewed for this report, improving cross-channel marketing capabilities is the highest business priority for banks' CRM investments, followed by improving campaign response rates. The failure of past CRM investments to increase customer loyalty coupled with banks' current budget constraints will put a damper on banks' CRM spending through the end of 2010, however.
"To regain momentum, CRM investment should focus on building a new marketing competency," says Ron Shevlin, senior analyst with Aite Group and author of this report. "Aite Group believes that the next generation of CRM will be focused on building what we call a 'sense-and-respond' marketing capability: The ability to sense consumers' needs and intentions based on their behavior, and respond with the appropriate advice, guidance and offers."
Companies mentioned in this report include the following: Alterian, Aprimo, Capital ID, CDC Software, Conversen, Diebold, Experion Systems, Fidelity Information Services, Fiserv, Harland, Infor, Jack Henry & Associates, Marquis Software, Maximizer Software, Metavante, Microsoft, Neolane, Oracle, Pegasystems, Salesforce.com, SAS, Teradata, Truebridge, and Unica.
This 18-page Impact Note contains 15 figures and two tables. Clients of Aite Group's Retail Banking service can download the report by clicking on the icon to the right. 
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