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Title: What Is CRM, Customer Relationship Management?
Author: Casey Gollan
Article:
CRM stands for Customer Relationship Management (CRM).
It's hard to find a definitive definition of what CRM means. So
I'll outline the broad meaning and then give some examples.
You may have heard of the terms CRM and Customer Relationship
Management in regards to software. Well CRM is not just a piece
of software. It's more than that.
The CRM Customer Relationship Management software is a vital
component, yet the whole business needs to understand CRM
Customer Relationship Management in all departments and
functions of the business and behave appropriately to make CRM
Customer Relationship Management work.
An effective CRM Customer Relationship Management will include
methodologies, strategies, software, and web-based capabilities
that help an enterprise organize and manage customer
relationships.
<b>Why use CRM Customer Relationship Management?</b>
CRM Customer Relationship Management is used to help businesses
(a.) understand their customer, and (b.) understand their
customers' wants and needs and (c.) help the business serve them
more efficiently and effectively
In turn this will help the business to improve customer
satisfaction, increase staff productivity, slash operational
costs and maximize the effectiveness of each customer
interaction.
Let's talk about these three different areas.
<b>CRM Customer Relationship Management to Understand The
Customer</b>
In a CRM Customer Relationship Management application and
approach a user will collect as much information about a
customer that they can. They'll collect names, addresses,
contact numbers, age, sex, number of children etc. A CRM
Customer Relationship Management process does this to, amongst
other things; help 'classify' their customers.
A benefit of a CRM Customer Relationship Management system is
that a user can help analyse which types of customers are best
for their business.
Then once they know what customer 'types' are best they can then
market to them in a 'personal' way - using the information
gained about them.
<b>CRM Customer Relationship Management to Understand The
Customers Wants and Needs</b>
As information is collected about the customers' personal life,
information is also collected about their buying habits and
stored in CRM Customer Relationship Management software.
Humans are creatures of habit. By analysing the information
collected about the customer and their buying habits the CRM
Customer Relationship Management can be used to help the
business identify what the customers would most likely want or
need to buy.
For example, if your CRM Customer Relationship Management
information lets you know that your best customers typically
like buying 'red apples' in November for an average sale price
of $15. You can prepare a marketing approach that is sent out to
them prior to November that will steer them towards buying $30
worth of apples.
The customer sees it as useful because it's something they like
to do at that time of year, and you're offering them a reminder
and perhaps an incentive to buy more. The business benefits by
structuring the offer to increase the sales value and therefore
increasing the profit return.
<b>CRM Customer Relationship Management is Useful to Also Target
New Customers</b>
Information gathered in the CRM Customer Relationship Management
will help the business to target more of the preferred
customers. An analysis using CRM Customer Relationship
Management software could tell the business, for example, that
single males between 30 to 35 years of age that earn between
$50,000 and $60,000 are the best type of customer for the
business.
Knowing that information from the CRM Customer Relationship
Management, the business can then hire a list from a direct mail
list broker of all the single men that fit the description and
target their marketing towards them.
The CRM Customer Relationship Management activity of improving
the relationship with the customer is to help keep the customer
more loyal to the company and thus improve the profitability of
the business.
<b>CRM Customer Relationship Management to Help Efficiency and
Effectiveness of Business</b>
A good CRM Customer Relationship Management application will
help the business to become more efficient and effective.
The business can become more efficient because if a customer
contacts the business, within seconds the customer service
representative can produce the customers file. This will tell
the employee all about the customer and their interaction with
the business.
So a CRM Customer Relationship Management saves time for the
business and is able to help the employees deliver high levels
of personalised service.
A CRM Customer Relationship Management software program and
approach can help the business become more effective. An example
would be marketing.
Knowing all the information about the customers, the marketing
strategies can be targeted towards the customers in a personal
way. Thus marketing to a defined target market with a past
history the potential of improved results is far greater than
marketing to a 'cold' list.
This article should only be viewed a very broad overview of what
CRM Customer Relationship Management is.
On this website you'll find more detail and resources to help
you understand and use CRM Customer Relationship Management for
your business.
Copyright © 2005 by Casey Gollan. All Rights Reserved
About the author:
Casey A Gollan, <a href="http://www.caseygollan.com.au">The
Business Growth Specialist</a> for <a
href="http://www.crmsoftwarecenter.com">CRM Software Center</a>
- CRM Software Center- All the general information and resources
for everything CRM - Customer Relationship Management. Visit <a
href="http://www.crmsoftwarecenter.com">www.crmsoftwarecenter.com
.</a> for more articles and info on CRM.
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