CRM - Customer Relationship Managemennt

By: Muhammad Adeel

What is CRM?

CRM (Customer Relationship Management) are the concepts used by organizations to manage their relationships with customers.

“The approach of identifying, establishing, maintaining, and enhancing lasting relationships with customers.”

History of CRM 1980s: Database marketing emerges. 1980s: Database helped larger organizations rather

then small who only got survey type info. 1990s: CRM appears as a two-way communication

device. 1990s: CRM leads to programs such as frequent flyer

miles and bonus points on credit cards. 2000s: Internet has helped expand from stagnant

database and allows off-site information storage. 2000s: Used most frequently in financial services,

high tech corporations and the telecommunications industry.

CRM ASPECTSBasically CRM is Based on three Aspects..

Operational AspectsOperational aspect of CRM is automation to

Customer’s processes including front office sales / service and marketing representative.

Any customer interaction is recorded by CRM, so that any one can retrieve the customer information at anytime without having to interfere about interaction history

Collaborative Aspects

Direct interaction with customers without interference of sales representative. Cost reduction and better customer services through automated voice response, email feedbacks, SMS, IVR etc

Analytical Aspects

Analysis of Customer Data for purposes like optimizing marketing effectiveness, customer retention, behavioral analysis, decision making.

CRM leads to… Identifying prospects and helps them

become customers. Closing sales more effectively and efficiently. Allowing customers to perform business

transactions quickly and easily.Providing better service and support

following a sale.

Key Features of CRMA typical CRM consists of three subModules: Sales Marketing Customer Services

SALESIt improve sales and streamline existing processes.

MARKITINGIt helps in marketing departments identify and target their best customers, manage campaigns as well as discover qualified leads.

CUSTOMERS SERVICESForm individualized relationships with customers.

Benefits of CRMResearch has shown that companies that create satisfied, loyal customers have more repeat business, lower customer-acquisition costs and stronger brand value.Which equals to better financial performance.

CRM Companies in Share Market 2013

Top CRM Companies

Famous Companies Info… Salesforce has greater market share in the West and the

South compared to the Midwest and the Northeast.

While Microsoft Dynamics CRM is number 2 in overall CRM market share, it’s greatest relative share is in organizations with 100 or fewer employees.

Microsoft Dynamics CRM stacks up better against Salesforce in the Midwest and the Northeast.

Oracle and SAP considered as standalone systems by CRM buyers,

Vtiger and SalesLogix and ACT! are hanging tough in five and six overall positions.

At the End….Choosing the right CRM helps Client interaction and understanding efficient initiating process of better service and customer retention.