Customer Relationship Management Systems
Running head: Customer Relationship Management Systems
Customer Relationship Management Systems
Author Note:
This paper was prepared for Introduction to Information Systems, Fall 2013 Abstract
Customers have become increasingly aggressive in their demands for superior quality, but also for quick to respond service. Customer relationship management is the response to this growing need. In this paper, we will learn about the different types of CRM systems, their capabilities and how by giving priority to the customer, a company can dramatically increase their profits.
Customer Relationship Management Systems
Customer relationship management plays a fundamental role in the development of any successful business. CRM systems “became part of the business world when business leaders came to the conclusion that they needed to improve the way their customer information was being managed using technology” (Kyle Lacy, 2013). The purpose of CRM systems is to manage customer interactions with the idea of keeping the client happy, thus increasing company revenues.
In 1995, research firm Gartner created the first definition of CRM, “Customer Relationship Management is a business strategy with outcomes that optimize profitability, revenue, and customer satisfaction by organizing around customer segments, fostering customer satisfying behaviors, and implementing customer-centric processes.” (Kyle Lacy, 2013)
Many companies have felt the impact of losing their revenues because there has not been any thought put into client retention. Once you have a client that buys your product, how do you keep them coming back to you? Companies must have systems in place to monitor, track, and analyze constant needs of the customer. In addition, if the company does not provide dependable and effective customer service; the client will take their business elsewhere. Customer demands have become increasingly higher because in this technology era there
Customer Relationship Management Systems
Author Note:
This paper was prepared for Introduction to Information Systems, Fall 2013 Abstract
Customers have become increasingly aggressive in their demands for superior quality, but also for quick to respond service. Customer relationship management is the response to this growing need. In this paper, we will learn about the different types of CRM systems, their capabilities and how by giving priority to the customer, a company can dramatically increase their profits.
Customer Relationship Management Systems
Customer relationship management plays a fundamental role in the development of any successful business. CRM systems “became part of the business world when business leaders came to the conclusion that they needed to improve the way their customer information was being managed using technology” (Kyle Lacy, 2013). The purpose of CRM systems is to manage customer interactions with the idea of keeping the client happy, thus increasing company revenues.
In 1995, research firm Gartner created the first definition of CRM, “Customer Relationship Management is a business strategy with outcomes that optimize profitability, revenue, and customer satisfaction by organizing around customer segments, fostering customer satisfying behaviors, and implementing customer-centric processes.” (Kyle Lacy, 2013)
Many companies have felt the impact of losing their revenues because there has not been any thought put into client retention. Once you have a client that buys your product, how do you keep them coming back to you? Companies must have systems in place to monitor, track, and analyze constant needs of the customer. In addition, if the company does not provide dependable and effective customer service; the client will take their business elsewhere. Customer demands have become increasingly higher because in this technology era there
References: Brown, S. A. (2000). Customer Relationship Management. Wiley & Sons. Kyle Lacy, S. D. (2013). Social CRM for Dummies. Wiley. Rainer, P. &. Management Information Systems, 2e. Wiley. Research, P. (2000). The Market Intelligent Enterprise 2000. Sugar CRM. (2013). Retrieved November 2013, from www.sugarcrm.com.