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Arun Gupta asked:
Customer Relationship Management (CRM) is a process or methodology which helps in identifying the needs and behavioral patterns of customers, eventually leading to build up a firm relationship with them. More than often, it is linked to technical components. But as a matter of fact it is a process that connects the link between customers, sales, marketing effectiveness, responsiveness and market trends. In simple words, CRM assists businesses in the effective use of technology as well as human resources to gain a deeper insight into customer-behaviour.
From the outside, customers interacting with a company perceive the business as a single entity, despite often interacting with a variety of employees in different roles and departments. Customer Relationship Management is a combination of policies, processes, and strategies implemented by a company that unify its customer interaction and provides a mechanism for tracking customer information.
The objectives of a CRM strategy must consider a company’s specific situation and its customers’ needs and expectations. Information gained through CRM initiatives can support the development of marketing strategy by developing the organization’s knowledge in areas such as identifying customer segments, improving customer retention, improving product offerings (by better understanding customer needs), and by identifying the organization’s most profitable customers. Customer Relation Management strategies can vary in size, complexity, and scope. Some companies adopt this strategy only to focus on the management of a team of salespeople. However, other strategies can cover customer interaction across the entire organization. Many commercial CRM software packages provide features that serve the sales, marketing, event management, project management, and finance industries. Satyam, one of the leading IT firms in India has been applauded across the globe for its sound implementation of CRM practices.
Several commercial software packages are available, and they vary in their approach to CRM. However, as mentioned above, it is not just a technology but rather a comprehensive, customer-centric approach to an organization’s philosophy of dealing with its customers. This includes policies and processes, front-of-house service, IT services, employee training, marketing, systems and information management. Hence, it is important that any CRM implementation considerations stretch beyond technology toward the broader organizational requirements.
Customer Relationship Management (CRM) is a process or methodology which helps in identifying the needs and behavioral patterns of customers, eventually leading to build up a firm relationship with them. More than often, it is linked to technical components. But as a matter of fact it is a process that connects the link between customers, sales, marketing effectiveness, responsiveness and market trends. In simple words, CRM assists businesses in the effective use of technology as well as human resources to gain a deeper insight into customer-behaviour.
From the outside, customers interacting with a company perceive the business as a single entity, despite often interacting with a variety of employees in different roles and departments. Customer Relationship Management is a combination of policies, processes, and strategies implemented by a company that unify its customer interaction and provides a mechanism for tracking customer information.
The objectives of a CRM strategy must consider a company’s specific situation and its customers’ needs and expectations. Information gained through CRM initiatives can support the development of marketing strategy by developing the organization’s knowledge in areas such as identifying customer segments, improving customer retention, improving product offerings (by better understanding customer needs), and by identifying the organization’s most profitable customers. Customer Relation Management strategies can vary in size, complexity, and scope. Some companies adopt this strategy only to focus on the management of a team of salespeople. However, other strategies can cover customer interaction across the entire organization. Many commercial CRM software packages provide features that serve the sales, marketing, event management, project management, and finance industries. Satyam, one of the leading IT firms in India has been applauded across the globe for its sound implementation of CRM practices.
Several commercial software packages are available, and they vary in their approach to CRM. However, as mentioned above, it is not just a technology but rather a comprehensive, customer-centric approach to an organization’s philosophy of dealing with its customers. This includes policies and processes, front-of-house service, IT services, employee training, marketing, systems and information management. Hence, it is important that any CRM implementation considerations stretch beyond technology toward the broader organizational requirements.
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