Customer Relationship Management

Managing customer relationships effectively and efficiently is made possible by having a customer management relationship solution in place. Being able to track customer data is critical to an organization, this allows them to develop targeted and effective marketing campaigns and accurate sales reports. Interacting with customers frequently is a very important part of a business and by having a customer relationship management program in place supports that and makes this possible. CRM makes it easier for businesses manage a large supply of customer information and supports customer loyalty. The editors of CRM Magazine also point out, “Once thought of as a type of software, CRM has evolved into a custome... ... middle of paper ... ...anagement.

CRM is all about the Total Customer Experience that a person has with a business that through multiple interactions across channels. Before CRM, there was database marketing. There always existed benefits in understanding customers and targeting them based on better information. When used properly this makes the customer experience more relevant and acceptable for the customer. This paper is divided into 7 sections which describe critical aspects of Customer Relationship Management.

2) "MPLS Overview." juniper.net. 2005. Juniper Networks, Inc, Web. 25 Feb 2010. http://www.juniper.net/techpubs/software/junos/junos53/swconfig53-mpls-apps/html/mpls-overview.html 3) "MPLS (Multi Protocol Label Switching)."networkworld.com.

Cross-selling is when sales representatives improve their sales by offering extra products (O’Brien, A & Ma... ... middle of paper ... ...s long as possible. They are able to customize and personalize customers’ information so they can better attend customers based on their needs and characteristics. This benefit will help sales representative to better attend and satisfy their customers next time they need services t o increased revenue. Other benefit of CRM is that it enables companies to exploit new markets. In order to succeed, it is important for CRM to have employees that accept the change and that customers are one of the most important thing of a company.

HR brings the business perspective while other departments (management, finance) are looking directly at numbers. HR knows people and how to enhance human capital and make the right personnel investments. When properly used, HR can have significant changes and positive results on and with a company due to its knowledge and existing capabilities. In order for HR to make significant contributions, as aforementioned, they need to be allowed to and be worked with by management to achieve common goals (Hults,

CRM also means automating many of the business processes and accompanying analysis and saving precious time in the bargain. Today’s companies are interacting with consumers at unprecedented levels and across different channels, such as E-mail, text chat, and multi-functional call centers. Marketing, sales and customer service are commonplace for CRM, so it is essential to acquire new customers and retain those who have high value, since customers have real value to the company’s success. And companies are pouring millions of dollars into customer relationship management, but most initiatives fail to deliver customer needs, so it is essential to have a proper analysis of CRM before choosing a particular vendor. The objective of good CRM is to increase the customer base by acquiring new customers and effectively serving the needs of existing customers.

In general CRM, is a more efficient automated method used to connect and improve all areas of business to focus on creating more solid customer relationships (CRM Research Center, 2001). All forces are coupled together to save, improve, and acquire greater business to customer relationships. The most common areas of business that are positively affected include marketing, sales, and customer service strategies (Digital Consulting Institute, 2002; CRM Research Center, 2001). CRM helps create time efficiency and savings on both sides of the business spectrum. Through correct implementation and use of CRM solutions, companies gain a better understanding of their strongest and weakest areas and how they can improve upon these.

Analytics offers retailers an opportunity to gain a competitive edge. By using data, companies can learn from past mistakes and plan ahead for future initiatives. Knowing what to do and how to execute stations businesses in the unique position to serve their customers better. Moreover, analytics isn’t limited to one department in company. It works best when all your internal teams are integrating data in useful ways.

Companies are now turning to this business strategy supported by information technology. These customer service programs are designed to assist in a company’s business operations. Companies like Siebel, E.piphany, Oracle, Broadvision, Net Perceptions, Kana and others have designed products that do everything from track customer behavior on the Web to predicting their future moves to sending direct e-mail communications. Customer Relationship Management can improve: Contact and account management, sales, marketing and fulfillment, customer service and support, and retention and loyalty. The part that deals specifically with the needs of the cust... ... middle of paper ... ...to, what promotions to send to certain customers, and can inevitably save marketing dollars in the process.

as organizations are able to identify information and know more about their customers, they can provide them with a positive experience that pays off at the end. Everything that customers do, and every interaction that they have with an organization must be identified, recorded and documented. In order to do this, companies must go beyond the sticky-notes and jumbled filing cabinets, and begin implement cutting-edge organizational technology that is only accurately quantify and sort data for easy future reference, but also make that data accessible across departments. Because of CRM this can become possible and allows company to store a huge list of customers and any related significant information about them. Access to their file can be even more convenient than it used to be because the cloud, hence no matter who it is that is serving the customer in question, they’ll have the same actionable data promptly available.