Customer Relationship Management (CRM)
Retaining a customer maximises profits and simply implementing a solution intended to achieve organizational goals is not enough to achieve CRM success. CRM optimization should be encouraged through the right practices, optimization of promotional products and the ability to adapt to change.
CRM software supports to track and organize current and prospective contacts and the processes whereby information about customers and customer interactions can be entered, stored and accessed by employees to improve services provided, and to use information for targeted marketing and promotion of new products. CRM software also helps in analyzing demographic data on where focus has to be deployed to enhance market presence through offering metrics and graphical representation of market scenario.
Though perceived as a single entity, the customer often interacts with different departments / executives and with no central database of the earlier commitments / interactions, possibilities of an unintentional impairing the clients expectations are imperative.
CRM is a combination of policies, processes, and strategies implemented by an organization to unify its customer interactions and provide a means to track customer information. It involves the use of technology in attracting new and profitable customers, while forming tighter bonds with existing ones.
CRM includes many aspects which relate directly to one another:
* Front office operations — Direct interaction with customers
* Back office operations — Operations that ultimately affect the activities of the front office
* Business relationships — Interaction with other companies and partners
* Analysis — Key CRM data can be analyzed in order to plan target-marketing campaigns, conceive business strategies, and judge the success of CRM activities
* CRM software is just about effective ways of managing customer relationships, but means to enhance customer-centric way of doing business
Social Vines, Inc