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Customer Relationship Management (CRM)


What is Customer Relationship Management 'CRM'?

CRM is stands for Customer Relationship Management. CRM is an industry term for software solution that assists companies to run customer relationships in an organized and controlled way. In other words, CRM is the common term used to explain the managing of prospects all the way through the complete sales process. It's an entire data system that can either be manipulated by hand, such as an index card system or a computer automated system. There is particularly designed software for customer relationship management that can be either installed directly into a computer or through a web based system that's accessible only online. CRM systems are useful as they facilitate the management of the entire prospect/customer details such as the names, addresses, phone numbers, call records and purchase history and more. The other uses of CRM consist of planning of appointments, schedule of call back times and other sales connected activities. Depending on the system, automated CRM can be just one user, or for numerous users to have access to customer accounts.

A classic example could be the customer database containing complete information and details, which the business management and sales department personnel access. They utilize this information to cross sell diverse products to customers, depending on customer requirements, get in touch with them for latest product launches, etc.

Another example would be, an enterprise may put together a database about its customers that explained relationships in detail so that management, salespeople, people providing service, and possibly the customer directly could access information, match customer needs with product plans and offerings, remind customers of service requirements, identify what other products a customer had purchased, and so forth.

There are many low-priced CRM systems that can be modified to the requirements of all businesses regardless of size as they designed to fit right into Microsoft Outlook. This makes them very simple to set up and little training needs to be given to the sales force and others to efficiently utilize them. The aim of CRM is to offer the ability to communicate with customers through any media they want and deliver information to customers in real-time. While doing this, the CRM Software should analyze and provide complete view of customer's behavior patterns, past and present transactions to sales people in order to suggest the best possible solution/product to the customer. In today's demanding business scenario, personalized focus and attention to every customer is vital to gain loyalty and trust from customers. Personalized service and attention is a must in order to effectively drive up sales. To improve relationships between customers and company personnel CRM software uses all possible channels of feedback and interaction. Today, every media is exploited to achieve higher degree of interaction. Typical entry points are Toll free calls, Internet, Kiosk terminals and most popular lately is SMS.

With Internet based interaction being popular, web-based CRM software is a must today. Companies today are looking at ways to provide more information through self-help services, which are typically online. These are help-desk centers, info downloads or new product updates into your mailbox, etc.

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