Essential Information
Customer relationship management (CRM) is the design, planning, and implementation of customer management systems, which organize, synchronize, and automate the processes that maintain client and sales prospect information.
Although there are no Master of Business Administration (MBA) programs focusing entirely on CRM, there are several MBA programs in marketing that explore CRM concepts. Relevant courses include those in sales management, marketing performance, and customer management technologies. Some MBA programs offer courses fully or partially online. In order to apply, students must hold a bachelor's degree and have prior work, military, or volunteer experience.
Master's of Business Administration Degree: Customer Relationship
The customer relationship management courses in MBA programs focus heavily on technology and marketing. Students who complete MBA programs gain a strong sense of how to nurture business-to-business and business-to-consumer relationships. Students build their skills through lecture-based studies, case analyses, student-led discussions, and written essays. Examples of the marketing and customer relationship management topics explored within an MBA program include:
- CRM technologies
- Cross-functional coordination
- Performance outcomes
- Impact of CRM
- Sales management
- Direct marketing
Employment Outlook and Salary Information
Graduates of an MBA program with marketing and customer relationship management courses are well-equipped to pursue careers in corporate marketing and retail sales. Professionals are typically expected to analyze market data, which involves pinpointing trends, increasing market shares, and forecasting sales.
According to the U.S. Bureau of Labor Statistics (BLS), the number of employed market research analysts was predicted to grow 18% from 2019 to 2029, which is faster than the national average for all occupations. The median salary for market research analysts and marketing specialists was $65,810 as of May 2020, according to the BLS.
Continuing Education Information
Professional organizations for CRM professionals include the Customer Relationship Management Association (CRMA), which offers various resources for further training in the field, including both live and online seminars (www.crmassociation.org). The CRMA also endorses a seminar series presented by BPT Partners, which is a customer relationship management research group.
In conclusion, an MBA can provide relevant training in customer relationship management, preparing students for analytical careers in the field.
