According to CRM solution provider SuperOffice, CRM software revenue is forecasted to reach $80 billion in 2025. The global customer relationship management software market size was valued at USD 52.4 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 13.3% from 2022 to 2030. Today, most casinos, online and terrestrial, rely on some kind of CRM for their loyalty programs, customer segmentation, and customer retention initiatives. Back then, understanding CRM was in its infancy, and the technology supporting CRM was quite primitive.
In 2003, I was among the very first to organize and plan CRM implementation for what was then the second-largest casino in the world. IntroductionĬustomer Relationship Management or CRM - comprising of a set of strategic initiatives, frameworks, and tools to acquire and retain the right customers - has now been around for more than 25 years.
In Part 1 of our two-part series on CRM, we discuss five crucial mistakes typically made by casinos in deploying and using CRM. The casino industry, in general, seems to be seriously underperforming when it comes to harnessing the full power of CRM. Yet not many businesses are able to derive the inherent value from their CRM projects. Customer Relationship Management (CRM) has become a ubiquitous fixture in a company’s arsenal for managing its customer relationships.
