Business Management

What Is Crm Customer Relationship Management

Introduction

CRM Customer relationship management is a system adopted by professionals for managing company-customer relationships, maintaining client base and recording sales channel. This is an automatic computer application or software that saves customer/client/employee information in the form of database. This data includes fields like contact information, calling time, record of previously made calls, products or services delivered to them and customer response.


This article covers up additional information on CRM customer relationship management software, its importance, disadvantages and advantages. There are two types of CRM software: one for online product review and another for campaign management.

History

CRM customer relationship management application which is used for product reviewing comes with automatic features like tracking and recording sales call, noting down the call duration, purpose and result of calling. Some online software applications have automatic features that let the patrons configure particular products as per their requirements. For instance if you’re planning to purchase a cupboard and you don’t like the present color or texture, the software will prompt you to make changes to its colors, textures and features etc. to see whether it fulfills your requirement.


Thus, CRM customer relationship management software puts your customer at charge and he can select his desired products thereby reducing the chances of negative product reports.


Likewise, the application meant for campaign management processes a client’s data. It informs a user about what category of products their clients have purchased in the past. Depending upon this data, campaign managers make marketing strategies for cross sale campaigns. The application is designed with the analytical ability of determining price changes, current selling price and any development, if required. The CRM customer relationship management tool performs this task through the process of data mining and predictive analysis based on logical variables like annual income, age and gender of buyers.


The purchase history of a prospect recorded in CRM customer relationship management tool helps the marketing team in predicting the probabilities of making future sales if they contact their customers. Sales representatives can manually enter necessary information into this software and this data is simultaneously circulated to customer service, sales, technical support, marketing and accounting departments to update their personal records. Thus, all the departments can benefit together.

Features

Disadvantages:

  • CRM customer relationship management tool enhances the visibility of a service to one and all. This plus point acts like a disadvantage in case of confidential data.
  • Sometimes, the information stored within its database can be misused by the rivals and utilized against the benefits of a company.

Advantages:

  • It simplifies the process of data keeping, future referrals and serves as a great help at company meetings.
  • It saves time, money and efforts of the company members.

Tips and comments

CRM customer relationship management software will bring about an increase in revenue provided sales representatives are comfortable with it and familiar with the “know-how’s” of it. However, proper care should be taken that the quotes don’t increase on a fast pace else your staff members won’t be able to keep up with it. Adequate training should be provided to the employees at regular intervals so that they can adapt to the features and changes made in the tool.

By Smita, published at 03/03/2012
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What Is Crm Customer Relationship Management. 4 of 5 based on 11 votes.

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