Business-to-Business Internet Marketing, Fourth Edition - Lifecycle ...

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194 BUSINESS-TO-BUSINESS INTERNET MARKETING 7 Building Customer Relationships 194 Customer relationship management (CRM), second only to e-commerce, has become the fastest-growing area of Internet marketing. AMR Research (www.amrresearch.com) estimates that the market for CRM will grow to $16.8 billion by the year 2003, from $3.7 billion in 1999. Jupiter Media Metrix (www.jmm.com), in a June 2001 study, found that 74% of businesses said they would spend more money on CRM infrastructure in 2001 than in 2000. Jupiter also indicated that the number of individuals seeking online customer service will rise from 33 million in 2001 to 67 million in 2005. In many ways, the Internet has become a symbol of the ultimate customer relationship for both business-to-consumer and b-to-b marketers. A survey of business executives by Bain & Co., released in May 2001, indicated that CRM was the fastest-growing management tool. But there is much evidence that Internet-based customer service has a long way to go. According to eMarketer (www.emarketer.com), a January 2001 study of 200 e-businesses conducted by Critical Research indicated that 93% of business buyers regularly have problems during online business sessions. A study released in May 2001 by Jupiter Media Metrix looked at b-to-b customer service in particular. It found that, although 96% of b-to-b companies offer e-mail customer support, 29% of them never responded to basic customer service inquiries. Only 41%
Building Customer Relationships 195 of the companies responded to e-mail inquiries within six hours, and half of those were considered unsatisfactory responses. This is what customer defections are made of. According to a CRM report issued by eMarketer citing studies by Harvard Business School, by simply reducing customer defections by 5%, a company can increase its profits by more than 25%. eCRM is the latest buzz word. Innovations such as customer selfservice areas, Internet-based help desks, intelligent search engines, solution databases, and Call Me buttons on Web sites and in e-mails are e-enabling customer relationships. Yet, for many, CRM is still a promise unfulfilled. In this chapter, we look at what the Internet has to offer to b-to-b marketers who want to build and enhance relationships with their customers. Building Better Customer Relationships The business reality of today and tomorrow is that customers have many choices—and they are exercising their options aggressively. As one piece of evidence of the dramatic shift in customer loyalty, you would be hard-pressed to find any IT manager at a sizable company in the world today who would brag about his or her fierce loyalty to a single computer manufacturer. There still may be IBM shops or HP departments—but commingled hardware is as common in most IT organizations as coffee and creamer are in the company cafeteria. That is why one of the fastest-growing businesses in the IT industry is systems integration. If anything, hardware and software companies are developing products that work better together with their competitors’ products than ever before. Now, a major computer company’s service organization is often as skilled in servicing its competitors' products as it is in servicing its own gear. This is just as true of any customer-driven business. Unfortunately, your customer is just as likely to be your competitor’s customer. Buyers are not exhibiting the kind of loyalty that may have anchored their purchases in the past. Products are more commoditized, and choices are many. Where loyalty does exist, it is frequently connected to the service and support provided by a company rather than to the product itself.
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BUSINESS-TO-BUSINESS INTERNET MARKE
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BUSINESS-TO-BUSINESS INTERNET MARKE
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Publisher: Jim Hoskins Manager of F
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Acknowledgments For helping me crea
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Table of Contents Table of Contents
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Table of Contents xi Automated E-ma
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Table of Contents xiii Real Estate
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Table of Contents xv Maintaining On
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Table of Contents xvii Office.com (
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Table of Contents xix DellHost ....
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About This Book About This Book xxi
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Introduction The original edition o
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sively. Large businesses are moving
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101 Ways to Promote Your Web Site,
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