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What
is Customer Relationship Management?
What is Customer Relationship Management and how can it work for you?
Customer Relationship Management (CRM) can help an organization transform the way it markets, sells and services its customers. With a CRM focus, a company utilizes every opportunity to delight customers, foster their loyalty and build long-term, mutually satisfying relationships.
Traditionally, marketing, sales and service departments have held the monopoly on customer relationships. Now, however, many CIOs, directors of distribution, as well as heads of operations, are also focused on the customer. Today's successful companies have switched from a supply-side view to a demand-side view that focuses on the customer's life cycle and, more importantly, on how to keep customers happy throughout that life cycle. This shift in perception has given rise to the latest strategic initiative: Customer Relationship Management, or CRM.
CRM is a set of practices that companies can utilize to build, broaden and deepen customer relationships. CRM offers a set of solutions that address critical business issues such as:
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What is the lifetime value of a customer relationship?
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What is the best sales strategy for each customer?
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What is the best product to sell?
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Which customers will buy that product?
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Which channels will best serve these sales - and bring more sales?
CRM systems covers a wide range of areas including:
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Customer support
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Sales Force Automation
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Marketing analysis
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Marketing automation
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Telemarketing
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Help Desk management
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Call Center management
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Quality assurance
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