Definition of CRM
CRM stands for Customer Relationship Management.
CRM is a business strategy which is aimed to understand, anticipate (predict) and respond to the needs of customers of a company's current and future.
CRM is a set process which is structured to enhance the company's relationships with customers, sales force and customer service departments.
CRM implementation involves the use of technology for managing, automating and synchronizing business activities of sales, CRM is also implemented to support marketing, customer service, and technical.
CRM is not software but a system, as for CRM software is the enabler needed to reach the vision of the company.
CRM means the integrated use of customer information in conjunction with operational tools, analysis and support that empower staff and provides a superior delivery mechanism or quality of service to customers. Application which is built for this is called CRM software.
Objectives of CRM
to discover, attract, and gain new customers, maintain and retain customers and corporate human resources, attract back former customers, reduce the cost of marketing expense, and client service quality.
CRM Benefits
1.Increased revenue and profits
Allows management to develop plans to increase sales and profits for the long term. This can be achieved by making the sales data and information of all estimates that are immediately accessible and allow decision makers to accurately decide the revenues and expenses where to cut costs, decide how much inventory to stock, and determine what discounts may be allowed to premium customer.
2.Improved customer service
Allows access to centralized customer data and e-mail templates that allow CRM team to quickly find the key in the details of important customers and communicate effectively with customers when they need their your services or products. See forming relationship marketing for detail.
3. highlighted profile customers and target marketing
Able to capture the customer's account details such as account data, pending orders, payment history, and others.
4. Quality and efficiency
If you can take advantage of the benefits above, then the CRM will be more cost-efficient and deliver quality.
Examples of CRM software
Samples of CRM software vendors : SAS and Oracle for large enterprises and SalesForce and SalesProCRM for smaller companies.
CRM software from Microsoft can be implemented in your company. See how to use Microsoft CRM for details.
Related article : inbound CRM and outbound CRM
