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CRM or Customer Relations Management is based solely on customers, so successful CRM professional will follow the trend in technology that customers interact with. For instance, it is trendy these days that customers use applications and social media websites such as Instagram or Twitter, a good CRM specialist with keep an eye on these website to build a database of direct and indirect feedback from customers, the use of # is popular specially among the younger generation too.
Analytical CRM analyses the data that has been created through operational CRM to build a pictureof the customer. Analytical CRM includes the capturing, storage, extraction, processing, interpretationand reporting of customer data stored in data warehouses (Xu & Walton, 2005:961). This enables theorganisation to examine customer behavioural patterns in order to develop marketing and promotionalstrategies (Xu & Walton, 2005:961). In research conducted in the UK, 25% of the organisationssurveyed indicated that they used analytical CRM (Xu & Walton, 2005:960). This would appear toindicate that the primary use of CRM systems is operational in nature (Xu & Walton, 2005:960).Collaborative CRM uses new and traditional communication technologies to enable customers tointeract with the organisation (Meta Group, 1999). Collaborative CRM allows a better level ofresponse to customer needs by involving all the members of the supply chain such as suppliers orother partners (Xu & Walton, 2005:961). It also involves channel strategies or any function thatprovides a point of interaction (or touch point) between the customer and the channel (Shahnam,2000:3).A further category of CRM systems identified by Chaudbury and Kuiboer (2002) in Xu & Walton,2005:960 is that of e-CRM. e-CRM makes it possible for the organisation to have as much contact aspossible through all communication channels, notably through the Internet and Intranet. e-CRM isthus a web-centric approach to customer contact (Xu & Walton, 2005:961). This Internet supporttakes on the form of presales, services and post-sales support (Sterne in Feinberg, Kadam, Hokama& Kim, 2002:470). The Internet makes it possible to have frequent contact with the customer, and sokeep their databases as pure as possible while developing better customer relationships (O’Leary,Rao & Perry, 2004:338). It has also been suggested that the value of the Internet can be seen in thequicker flow of information and more consistent communications that can result from its use (Luck &Lancaster, 2003:216). Using the Internet enables CRM to become more interactive, affecting therelationships that are developed (Xu et al., 2002:445). It has been suggested that while the Internet isused for promotional purposes, its interactive capabilities have not been used to their fullest extent(O’Leary et al., 2004: 338). It is further suggested by Taylor & Hunt (2002:453) that the consequencesof e-CRM may not assist in attaining the CRM goals as identified for a specific strategy.
Modern CRM solution are online based most of them are on cloud and you can access them from anywhere.
Best example in Microsoft Dynamics CRM online.
Provided technology is used correctly, CRM has become much more systematic and less time consuming.
Agree with MR. Vinood & Mr. Abdulrahman
Thanks
Fully agree with answer given by Mr. Abdulrehman
Thank you for the invitation ... I will agree with the answers that really covered your question... Variety of correct info and opinions ... Nothing to add !
Technology is really enhancing the communications tools and methods !
I apologized for the answer I do not know the answer Leave for professionals
The 21st century economy leaves no room for slowdown. Customers are moving at lightning speed – be it keeping pace with racing technologies, staying informed about everything that’s going on, or constantly demanding that transactions are executed at the speed of an eye blink. Obviously, 'lagging' translates directly to customer churn, which further escalates to bottom line damage. The big question is - how do organisations run in this crazy rat race and successfully retain their customers, when competitors are just a mouse click away?
Customer Relationship Management (CRM) is the answer. New age CRM is a winning business strategy that leverages advanced technologies to cut to the 21st century business chase. Organisations across the globe are embracing CRM as a strategic approach to gain a competitive advantage. However, to accomplish the same, CRM activities must also move at whirlwind speed – including customer acquisition and retention in real time. This helps ensure that no matter how fierce the competition, organisations can fight it out with ease. - See more at: http://crmsolutions.crmnext.com/2013/06/demystifying-21st-century-customer.html#sthash.RPBeGkYC.dpuf
