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COUSTOMER RELATIONSHIP MANAGEMENT (CRM)
Further, CRM isn’t just for the big players. Firms of every size must increase customer satisfaction by increasing responsiveness and introducing better ways to interface with customers throughout the relationship.
First things first: the implementation of a successful CRM strategy goes far beyond installing a CRM software program. Rather, it is rooted in the organization’s ability to put the customer first – even if that means modifying business processes, training and re-training employees, and adopting relevant technology to make CRM possible and efficient.
The CRM process is generally broken into three distinct areas:- Analytical CRM – data is gathered from various sources to analyze and identify cross- and up-selling opportunities. This data-gathering exercise is ongoing, and guides business decisions into the future.
- Operational CRM – processes are established or refined across every customer touchpoint, including sales, marketing and service.
- Collaborative CRM – customer interactions are streamlined across all channels, including email, phone, letter, fax, and more. The singular purpose of this area is to bring customers, employees, processes, and data together so that better serving and retaining customers is possible.
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