What is CRM?
Customer Relationship Management (CRM) is mostly familiar, vastly implemented strategy for managing and cultivating a company’s interaction and maintaining of relationship with the customers, clients or sales prospects. With the usage of technology, managers categorize, automate and harmonize business processes.
This mainly includes sales activities, customer support, marketing and technical support.
The main aim of Customer Relationship Management is to find new customers, attract and nurture and make them retain those the company already has. Customer Relationship Management is a company’s wide business strategy embracing all customer facing departments. The resources like people, process technology and material are used effectively and work in synergy to increase profitability and reduce the expenditure.
Benefits of CRM:
The CRM tools have been used to attain company’s main objectives-
1. Increase in sales
2. Updated sales and marketing processes
3. Improved customer service, loyalty and retention
4. Increased cross-selling and up-selling
5. Increase in efficiency of call-centers
6. Reducing expenditure
7. Increasing overall profitability
8. High rate of conversion
9. Better targeting on customers
10. Marginal costing
Strategy for CRM
Choosing a system and implementing is challenging and major undertaking. There are three main areas where benefits are defined and risk is assessed-
• People: For any initiative, to become successful there should be collaboration; two-way communication should be encouraged in hierarchical boundaries, teamwork, especially with process improvement.
• Processes: Business process lie at its core due to many technological components. Before selecting a company’s technology and processes, it needs to analyze the business work flow, processes and re-engineering of process for better clientele satisfaction.
• Technology: While assessing technology, some of the key factors include alignment with the company’s business process and the ability to assign right work to right employee.
So, hope that you find the right CRM tools for the growth of your business. One of the important points is that the buy in for the sales people were huge and should not be ignored when selecting the right solution for your business.
Customer Relationship Management (CRM) is mostly familiar, vastly implemented strategy for managing and cultivating a company’s interaction and maintaining of relationship with the customers, clients or sales prospects. With the usage of technology, managers categorize, automate and harmonize business processes.
This mainly includes sales activities, customer support, marketing and technical support.
The main aim of Customer Relationship Management is to find new customers, attract and nurture and make them retain those the company already has. Customer Relationship Management is a company’s wide business strategy embracing all customer facing departments. The resources like people, process technology and material are used effectively and work in synergy to increase profitability and reduce the expenditure.
Benefits of CRM:The CRM tools have been used to attain company’s main objectives-
1. Increase in sales
2. Updated sales and marketing processes
3. Improved customer service, loyalty and retention
4. Increased cross-selling and up-selling
5. Increase in efficiency of call-centers
6. Reducing expenditure
7. Increasing overall profitability
8. High rate of conversion
9. Better targeting on customers
10. Marginal costing
Strategy for CRM
Choosing a system and implementing is challenging and major undertaking. There are three main areas where benefits are defined and risk is assessed-
• People: For any initiative, to become successful there should be collaboration; two-way communication should be encouraged in hierarchical boundaries, teamwork, especially with process improvement.
• Processes: Business process lie at its core due to many technological components. Before selecting a company’s technology and processes, it needs to analyze the business work flow, processes and re-engineering of process for better clientele satisfaction.
• Technology: While assessing technology, some of the key factors include alignment with the company’s business process and the ability to assign right work to right employee.
So, hope that you find the right CRM tools for the growth of your business. One of the important points is that the buy in for the sales people were huge and should not be ignored when selecting the right solution for your business.
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