Before we begin to examine the conceptual foundations of CRM, it will be useful to define what CRM is. CRM stands for "Customer Relationship Management." CRM is a business strategy and a collection of technologies that enable seamless coordination between sales, marketing, customer service, field support and other functions that handle customer contact for an enterprise. CRM is a comprehensive set of processes and technologies for managing the relationships with potential and current customers and business partners across marketing, sales and services regardless of the communication channel. The goal of CRM is to optimize customer and partner satisfaction, revenue and business efficiency by building the strongest possible relationships at an organizational level. Successful CRM requires a holistic approach to every relationship with the entire organization sharing and contributing to that view.
Great employees are, and always will be, the backbone of any business. But employee performance can be enhanced or hampered by the strategy company set and by the tools that company gives employees to get the job done. CRM is both a strategy and a tool. CRM is an enterprise – wide mindset, mantra and set of business processes and policies that are designed to acquire, retain and service customers. Broadly speaking, CRM includes the customer facing business processes of marketing, sales, and customer service. CRM is not a technology, though. Technology is a CRM enabler.
Customer Relationship Management is a comprehensive approach for creating, maintaining and expanding customer relationship. Considering the word “comprehensive”, CRM does not belong just to sales and marketing. It is not the sole responsibility of the customer service group. Nor is the brain-child of information technology team. While any one of these area may be the internal champion for CRM in organization, in point of fact, CRM must be a way of doing business that touches all area. When CRM is delegated to one area of organization, such as IT, customer relationship will suffer. Likewise, when an area is left out of CRM planning, the organization puts at risk the very customer relationship it seeks to maintain.
[...] Customer Relationship Management (CRM) refers to the methodologies and tools that help businesses manage customer relationships in an organized way. For small businesses, customer relationship management includes: 1. CRM processes that help identify and target their best customers, generate quality sales leads, and plan and implement marketing campaigns with clear goals and objectives; 2. CRM processes that help form individualized relationships with customers (to improve customer satisfaction) and provide the highest level of customer service to the most profitable customers; 3. [...]
[...] If a business does not understand a customer profile and the changes that have occurred then it is not possible to provide true customer relationship management. Products It is the business providing the products that meet the changing customer trends. Products need to be reviewed constantly perhaps enhanced or even removed. Supermarkets are a perfect profile to look at for viewing ‘product trends', they constantly add and remove products and they constantly view customer buying profiles and set out the pattern of the store to meet the strongest buying trend. [...]
[...] Chapter CRM in CALL CENTERS ROLE OF CRM IN CALL CENTERS Customer relationship management (CRM) creates a comprehensive picture of customer needs, expectations and behaviors by analyzing information from every customer transaction. CRM creates the customer intelligence necessary to develop customer relationships. CRM requires far more sophisticated forms of Knowledge Management, such as collaboration, active knowledge sharing among CRM professionals, engaging customers in communities, and using e-learning as a customer value-added service. CRM needs Knowledge Management to enable innovation and collaboration among and between customers, employees and business partners. [...]
[...] Done right, the results can be extremely powerful: Lower contact center costs Increased customer satisfaction and sales conversion rates Improved sales performance across all channels (direct, indirect and partner) Reduced field service operations costs TECHNOLOGY IBM Daksh has developed the single largest out-sourced call center technology infrastructure in order to build a strong scalability platform and offer a highly diverse and reliable connectivity solution to its clients. Our technology capability is based on: Strong Processes: IBM Daksh has recently rolled out an IT Service Management Program (ITSM) based on the documentary framework of ITIL (IT Infrastructure Library) The ITSM imbibes five principle elements namely 'The Business Perspective (Strategic)', 'Managing Applications (Tactical)', 'Managing the IT Infrastructure (Operational)', 'Delivering IT Services (Tactical)' and 'Supporting IT Services (Operational)'. [...]
[...] IBM Daksh provides exceptional experience in: Customer retention Research escalated cases and provide solution Cross-sell / up-sell purchases Compliant and query resolution Activation and change of services Billing queries Product information support Order management Warranty / replacement support Booking and reservations Loyalty programs Account queries and maintenance Insurance claims calls Telesales / Telemarketing: (Generating leads and adding value) IBM Daksh do outbound direct marketing campaign, selling home equity loans to target consumers, telesales for extended warranty, welcome calls, insurance calls, selling the services related to partner programs and promotions, selling 'sticky services' and sales referrals. [...]
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