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Crm-Customer Relationship Management

CRM - Customer Relationship Management

Article Index

1. CRM - Customer Relationship Management
2. CRM: What are the benefits?
3. CRM: Deciding to use CRM
4. CRM: Applying CRM principles
5. CRM: Implementing the right CRM solutions
6. CRM: Further information and useful links

Introduction

Customers are key to all businesses, regardless of size or industry.
Successful businesses build their reputation based on long term relationships with satisfied customers
Customer Relationship Management (CRM) is a business philosophy, not just a technology - understanding your customers' needs enables you to build better relationships and increase sales.
Practicing CRM helps you stay close to existing customers and win new ones.
Although a sound customer relations strategy has to come first, it can be effectively supported by technology, such as CRM software.

CRM: What are the benefits?

Excellent customer service is about being aware of customer needs and reacting to them effectively. CRM helps you to understand, anticipate and respond to your customers' needs in a consistent way, right across your organization.
Practicing CRM requires an efficient and integrated internal business system. Many businesses benefit from the organizational discipline CRM imposes, as well as from the technology itself.
CRM will help your business if you view it as a set of tools that let you do more more for, and get more from, your customer.
CRM can:
• Develop better communication channels
• Collect vital data, like customer details and order histories
• Create detailed profiles such as customer preferences
• Deliver instant, company-wide access to customer histories
• Identify new selling opportunities

How can you measure CRM benefits?

CRM benefits can be measured and quantified. Using CRM applications can lead to increases in revenue from:
• Reductions in operating costs - it cost around £25 to handle a...