A Customer Relationship Management (CRM) system is the collection of software applications, methodologies and/or web potential that stores and provides detailed customer information - allowing a complete customer-centric approach to any company’s customer policy. The role of a CRM system in an organization may consist of the following: - Identifying the most profitable customers, managing marketing campaigns and generating quality sales leads
- Optimizing information shared by users by streamlining processes for sales, sales management, and accounting.
- Improving customer satisfaction, creating exclusive relationships, while accommodating the highest level of service.
- Offering information and processes to users that lead to knowing, understanding, and identifying their customers’ needs and providing ideas for fulfilling them.
Based on these roles, several variations of CRM can be identified: - Operational CRM supports the "front office" business processes (sale, marketing, user services). Every contact with a customer is recorded within the system, providing necessary info to multiple users in company.
- Sales Force Automation is a sub-variation of Operational CRM. It is usually used to create, track, and assign leads to salespeople. It is also used for tracking customer responses and generating reports.
- Analytical CRM is used to analyze customer data for optimizing marketing effectiveness of targeted campaigns. Design and run customer specific campaigns, analyze customer behavior, perform financial forecasting, or profitability analysis.
- Sales Intelligence CRM is a sub-variation of Analytical CRM, but is used as direct sales tool. Alert salespeople on sales opportunities, customer tendency, sales performance, customer trends, and margins.
- Campaign Management is marketing oriented and combines elements of Operational and Analytical CRM. It is usually used for the creation and execution of personalized campaigns, assigning specific campaign offers to selected customers. It provides automation by sending offers through pre-set channels, gathering information, and analyzing campaign results.
- Collaborative CRM coordinates the multi-channel service and support to customers. Various departments of a company can share information on any customer that has been collected on their own.
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