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Customer Relationship Management is the process of planning & designing, collecting & delivering, evaluating customer satisfaction and provide positive response to the customer.
Customer relationship management is typically an organization-wide business strategy designed to reduce the costs associated with obtaining customers and increasing profitability through customer loyalty.
CRM is used to increase your customer base, provide exceptional service, increase customer satisfaction, improve customer relationships, and create loyal customers that make repeated or related purchases.
Customer Relationship Management (CRM) is a strategy for managing all your company’s relationships and interactions with your customers and potential customers. It helps you improve your profitability. CRM enables you to focus on your organization’s relationships with individual people – whether those are customers, service users, colleagues or suppliers. Some of the biggest gains in productivity can come from moving beyond CRM as a sales and marketing tool and embedding it in your business – from HR to customer services and supplychain management.
CRM represents a strategy for creating value for both the firm and its customers through the appropriate use of technology, data and customer knowledge. This strategy requires focus, training, and investment in new technology and software to aid in the development of value adding CRM systems. Hence, CRM brings together people, technology and organizational capabilities to ensure connectivity between the company, its customers and collaborating firms.
I see CRM as a strategy, philosophy and a system that can be mobilized to identify and satisfy customers, modify and justify plans and therefore helps the company to achieve their goals.
As a system, it is a computerized system used to identify, target, acquire, and retain the best mix of customers.
It makes it easy to profile customer, understand their needs, and build relationships with them by providing the most suitable products and excellent customer service. It integrates back and front office systems to create a database of customer contacts, purchases, and technical support, among other things. This database helps the company in presenting a unified face to its customers, and improve the quality of the relationship, while enabling customers to manage some information on their own.
CRM could be a software that manages the customer data base. It is a complete package with an NPS survey mechanism. It has special alerts for DETRACTORS who are the most dangerous people for ur brand as they can do negetive publicity which can be very powerful on the social media. Having worked in many CRM tools from Clarify in Reliance infocom to astro in hp I can say careforce in salesforce with a360degree visibility of customer information is one of the best.
