Customer Relationship Management
1. Introduction of the assignment
Customer relationship management (CRM) is the process of acquiring, retaining & growing profitable customers and a comprehensive approach for expanding customer relationship.
There are different between Marketing and CRM. Marketing is a process in selling of product meanwhile CRM is a multifaceted process, which is intended to allow business organization to better anticipate and match customer needs and desire. As long as people are doing the buying, people will be involved in selling.
Customer relationship management tools have been shown to help companies attain these objectives:[3]
• Streamlined sales and marketing processes
• Higher sales productivity
• Added cross-selling and up-selling opportunities
• Improved customer service, loyalty, and retention
• Increased call center efficiency
• Higher close rates
• Better customer profiling and targeting
• Reduced expenses
• Increased market share
• Higher overall profitability
With a good CRM, businesses can expect to increase sales, reduce costs and improve cash flow. The CRM provides business continuity and makes information a truly valuable business asset by centralizing all of your client information, sales opportunities, documents and communications history.
CRM is an integrated information system that is used to plan, schedule and control the presales and post-sales activities in an organization. CRM embraces all aspects of dealing with prospects and customers, including the call centre, sales force, marketing, technical support and field service. The primary goal of CRM is to improve long-term growth and profitability through a better understanding of customer behaviour. CRM aims to provide more effective feedback and improved integration to better gauge the return on investment (ROI) in these areas. Many companies today have become so large that is difficult for them to stay "customer-minded." It is easy for the company to get into the habit at
Customer relationship management (CRM) is the process of acquiring, retaining & growing profitable customers and a comprehensive approach for expanding customer relationship.
There are different between Marketing and CRM. Marketing is a process in selling of product meanwhile CRM is a multifaceted process, which is intended to allow business organization to better anticipate and match customer needs and desire. As long as people are doing the buying, people will be involved in selling.
Customer relationship management tools have been shown to help companies attain these objectives:[3]
• Streamlined sales and marketing processes
• Higher sales productivity
• Added cross-selling and up-selling opportunities
• Improved customer service, loyalty, and retention
• Increased call center efficiency
• Higher close rates
• Better customer profiling and targeting
• Reduced expenses
• Increased market share
• Higher overall profitability
With a good CRM, businesses can expect to increase sales, reduce costs and improve cash flow. The CRM provides business continuity and makes information a truly valuable business asset by centralizing all of your client information, sales opportunities, documents and communications history.
CRM is an integrated information system that is used to plan, schedule and control the presales and post-sales activities in an organization. CRM embraces all aspects of dealing with prospects and customers, including the call centre, sales force, marketing, technical support and field service. The primary goal of CRM is to improve long-term growth and profitability through a better understanding of customer behaviour. CRM aims to provide more effective feedback and improved integration to better gauge the return on investment (ROI) in these areas. Many companies today have become so large that is difficult for them to stay "customer-minded." It is easy for the company to get into the habit at