Technology plays a vital role in every aspect of business world. Communication between the company and the customers become easier and faster. It is also. CRM or Customer Relationship Management is a system which aims at improving We use this information in order to improve and customize your browsing. Customer relationship management (CRM) is a term that refers to practices, strategies and technologies that companies use to manage and.
Customer needs change over time, and technology can make it easier to find out more about customers and ensure that everyone in an organisation can exploit this information. The better the relationship, the easier it is to conduct business and generate revenue. Therefore using technology to improve CRM makes good business sense.
CRM solutions fall into the following four broad categories.
Outsourced solutions Application service providers can provide web-based CRM solutions for your business. This approach is ideal if you need to implement a solution quickly and your company does not have the in-house skills necessary to tackle the job from scratch.
It is also a good solution if you are already geared towards online e-commerce.
Off-the-shelf solutions Several software companies offer CRM applications that integrate with existing packages. Cut-down versions of such software may be suitable for smaller businesses. This approach is generally the cheapest option as you are investing in standard software components.
The downside is that the software may not always do precisely what you want and you may have to trade off functionality for convenience and price. The key to success is to be flexible without compromising too much. Custom software For the ultimate in tailored CRM solutions, consultants and software engineers will customise or create a CRM system and integrate it with your existing software.
However, this can be expensive and time consuming. If you choose this option, make sure you carefully specify exactly what you want. This will usually be the most expensive option and costs will vary depending on what your software designer quotes. Managed solutions A half-way house between custom and outsourced solutions, this involves renting a customised suite of CRM applications as a tailored package. This can be cost effective but it may mean that you have to compromise in terms of functionality.
How to implement CRM The implementation of a customer relationship management CRM solution is best treated as a six-stage process, moving from collecting information about your customers and processing it to using that information to improve your marketing and the customer experience.
Customer relationship management
Stage 1 - Collecting information The priority should be to capture the information you need to identify your customers and categorise their behaviour. Those businesses with a website and online customer service have an advantage as customers can enter and maintain their own details when they buy.
Stage 2 - Storing information The most effective way to store and manage your customer information is in a relational database - a centralised customer database that will allow you to run all your systems from the same source, ensuring that everyone uses up-to-date information. Stage 3 - Accessing information With information collected and stored centrally, the next stage is to make this information available to staff in the most useful format.
Stage 4 - Analysing customer behaviour Using data mining tools in spreadsheet programs, which analyse data to identify patterns or relationships, you can begin to profile customers and develop sales strategies. Stage 5 - Marketing more effectively Many businesses find that a small percentage of their customers generate a high percentage of their profits. Using CRM to gain a better understanding of your customers' needs, desires and self-perception, you can reward and target your most valuable customers.
The Integration of Technology in Customer Relationship Management (CRM)
Stage 6 - Enhancing the customer experience Just as a small group of customers are the most profitable, a small number of complaining customers often take up a disproportionate amount of staff time.
If their problems can be identified and resolved quickly, your staff will have more time for other customers. Potential drawbacks of CRM There are several reasons why implementing a customer relationship management CRM solution might not have the desired results. There could be a lack of commitment from people within the company to the implementation of a CRM solution. Adapting to a customer-focused approach may require a cultural change.
There is a danger that relationships with customers will break down somewhere along the line, unless everyone in the business is committed to viewing their operations from the customers' perspective.
The result is customer dissatisfaction and eventual loss of revenue. Poor communication can prevent buy-in. In order to make CRM work, all the relevant people in your business must know what information you need and how to use it. Weak leadership could cause problems for any CRM implementation plan.
The onus is on management to lead by example and push for a customer focus on every project. If a proposed plan isn't right for your customers, don't do it. Send your teams back to the drawing board to come up with a solution that will work.Soft Skills - Customer Relationship Management
Trying to implement CRM as a complete solution in one go is a tempting but risky strategy. It is better to break your CRM project down into manageable pieces by setting up pilot programs and short-term milestones. CRM cannot survive without technology. Technology serves as the partner of CRM in order to cater the needs of the customers.
It makes their relationship meaningful in a way that the company understands what the customers need.
They become aware if the customers are satisfied enough on their products and services if not, it would be easy for them to look for strategies to make them satisfied. Databases serve as the soul of CRM.
Customer relationship management
It would not become functional without the use of technology. Databases help collect data and make it organized before using it to serve its purpose. It gathers information from the customers through the use of internet that makes communication faster. Online services for the customers. Since there is no impossible when it comes to technology, the relationship between the company and the customers would become stronger through the use of media technology such as the social media.
Even though they are far from each other, negotiating is not that hard to achieve. Services are always available. Due to the rise of different gadgets, it is now easy for the customers to have an access to the companies that will suit their needs.