Many initiatives do not use applications that promote real collaboration with cus- tomers. David Owen, CRM practice leader at Deloitte Consulting, states that consumers will expect a shift towards new technology in the next few years. However, "it is not just the technology, but what you do with it that enables you to survive and thrive in this new `clicks and mortar' economy". In the future, the market for CRM technology will be dominated by three or four major suppliers, like other software markets. CRM buyers must future-proof their systems and ensure that they do not choose a doomed vendor.
There are two key risks emerging from this: • According to research from Mitchell Madison Group, financial situations are wasting billions of pounds on CRM by focusing on the wrong areas. The study suggests that top-heavy allocation on non-core customers is the root of the problem. CRM also carries a risk. What if the customer does not want a relationship? Marketers must ensure that all interaction is welcome interaction by a thorough understanding of the customer. Nevertheless, CRM is important. Marketers have to embrace technology both on- and offline to gain strategic advantage by knowing the customer better.