Elevate Your CRM Strategies with Data Analytics – New Insights from Our Latest Research

This article highlights for business professionals and researchers the key findings and strategic implications from our latest publication, "Enhancing Customer Relationship Management with Data Analytics: Insights from Retail Survey," co-authored with Roula Jabado and featured in the June 2024 issue of the Journal of Telecommunications and Digital Economy (JTDE).

Unlocking the Power of Data Analytics in CRM

In the competitive landscape of modern business, the integration of Data Analytics Capabilities (DAC) within Customer Relationship Management (CRM) systems is crucial for informed marketing and strategic decisions. DAC refers to the skills and expertise needed to utilize advanced technological tools and methodologies to extract actionable insights from vast data sources.

Our study provides a fresh, external perspective by examining how effective DAC can enhance CRM system performance from the customers' viewpoint in the retail industry. We explore how technological CRM system quality, empowered employee interaction management capabilities, and DAC outcomes collectively enhance customer satisfaction across both online and in-store experiences.

A Rigorous Methodological Approach

To ensure robust findings, we adopted a quantitative approach, surveying 380 retail customers. Our methodology included exploratory factor analysis and multi-linear regression analysis, yielding empirical evidence that highlights the positive impact of DAC outcomes on customer satisfaction. These insights are invaluable for both theoretical advancement and practical application in the business realm.

Key Findings for Business Professionals

The integration of DAC into CRM systems can significantly boost customer satisfaction and loyalty through:

1. High-Quality Technological CRM Systems: Ensuring that CRM systems are robust and reliable to support effective customer interactions.
2. Employee Interaction Management: Empowering staff with the skills and tools needed to enhance customer engagement and service quality.
3. DAC Outcomes: Leveraging data analytics to derive actionable insights that drive strategic decision-making and customer satisfaction.

Our findings offer a customer-centric perspective on DAC integration within CRM systems, contributing to the limited empirical literature in this domain. For business professionals, these insights provide a roadmap to aligning CRM strategies with evolving consumer expectations, particularly in the digital era.

Strategic Implications and Future Research

While our study focuses on the retail sector and is geographically limited to Lebanon, it opens several strategic avenues for future research:

• Longitudinal Studies: Assessing the conceptual model across different industries to enhance generalizability and applicability.
• Long-Term Impact: Exploring the sustained impact of Customer DAC integration on CRM success over time, especially considering evolving consumer behaviors and technological advancements.
• Emerging AI-CRM Technologies: Investigating the interplay between DAC, technology adoption, and employee interaction management capabilities within the context of AI-driven CRM technologies.
• Synergistic Effects: Examining the interaction between system quality, customer interaction management capabilities, and DAC, and how these elements synergistically improve customer satisfaction.

Conclusion

Our research underscores the critical role of integrating DAC within CRM systems to enhance customer satisfaction and loyalty in the retail industry. By providing actionable insights and empirical evidence, we aim to guide business professionals in leveraging technology and human capabilities to foster stronger customer relationships in both online and in-store environments.

We invite you to download our full article from the JTDE website and explore our findings in detail. Harnessing the power of data analytics in CRM could be the key to driving your business forward in the digital age.

Download the full article here: https://jtde.telsoc.org/index.php/jtde/article/view/987/751

References:

Jabado, R., & Jallouli, R. (2021). An Enriched Framework for CRM Success Factors Outlining Data Analytics Capabilities’ Dimension. International Conference on Business andTechnology, 2020: The Importance of New Technologies and Entrepreneurship in Business Development: In the Context of Economic Diversity in Developing Countries, pp. 102–130. https://doi.org/10.1007/978-3-030-69221-6_9

Jabado, R., & Jallouli, R. (2023). A Systematic Literature Review on CRM Critical Success Factors. In Jallouli, R., Bach Tobji, M. A., Belkhir, M., Soares, A. M., & Casais, B. (eds), Digital Economy. Emerging Technologies and Business Innovation. ICDEc 2023. Lecture Notes in Business Information Processing, volume 485. Springer, Cham. https://doi.org/10.1007/978-3-031-42788-6_15

Jabado, R., & Jallouli, R. (2024). Impact of Data Analytics Capabilities on CRM Systems’ Effectiveness and Business Profitability. Journal of Telecommunications and the Digital Economy, 12(1), 427–445. https://doi.org/10.18080/jtde.v12n1.845

Jabado, R., & Jallouli, R. (2024). Enhancing customer relationship management with data analytics: Insights from retail survey. Journal of Telecommunications and the Digital Economy, 12(2), 76–96. https://search.informit.org/doi/10.3316/informit.T2024070300015300467884000

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