Customer
Relationship Management (CRM) solutions
CRM strategies have been
around since the first bazaar, but products designed to
automate CRM efforts are among today's hottest new
computer applications. Companies are rushing to automate
and better manage all the ways they deal with customers,
including people who might not consider themselves
customers yet.
In today's business climate, marketing programs must
focus on value-oriented differentiation to be
successful. Increasingly, businesses are seeking to
leverage the customer relationship to win and maintain
customer loyalty. In addition to helping identify and
retain customers with a high-profitability profile, CRM
is emerging as a critical success factor in both
electronic commerce and supply chain management
initiatives.
CRM is all about identifying, satisfying, retaining and
maximizing the value of a company's best customers.
Reasons
driving traditional companies to embark on adopting CRM
include:
-
Need
to increase the profit potential from a strong
customer relationship
-
Deliver
a superior customer service
-
Lower
operational costs
-
Improve
customer retention rates
-
Reduce
time to market of new propositions
-
Manage
channel conflicts
-
Increase
market share and revenue per customer
-
Improve
workforce productivity
-
To
establish a low cost communication link between the company and its regular customers
-
Improvement
in process flow
Companies
are able to derive following benefits from CRM initiative:
-
Increased
efficiency through automation
-
Ability to provide faster response to customer
inquires
-
Having
a deeper knowledge about the customers
-
Getting
more marketing or cross selling opportunities
-
Better
information for better management
-
Reduced
costs of sales and increased sales representative
productivity
-
Receiving
customer feedback that leads to new and improved
product/s or services
-
Doing
more one-to-one marketing
Our
CRM program involves three basic business processes:
