CRM(CUSTOMER RELATIONSHIP MANAGEMENT)

CRM (customer relationship management) is an information industry term for methodologies, software, and usually Internet capabilities that help an enterprise manage customer relationships in an organized way. For example, an enterprise might build adatabase about its customers that described relationships in sufficient detail so that management, salespeople, people providing service, and perhaps the customer directly could access information, match customer needs with product plans and offerings, remind customers of service requirements, know what other products a customer had purchased, and so FORTH.

Importance Of Customer Realtionship Management( CRM)

Customer Relationship management is the strongest and the most efficient approach in maintaining and creating relationships with customers. Customer relationship management is not only pure business but also ideate strong personal bonding within people. Development of this type of bonding drives the business to new levels of success. Once this personal and emotional linkage is built, it is very easy for any organization to identify the actual needs of customer and help them to serve them in a better way. It is a belief that more the sophisticated strategies involved in implementing the customer relationship management, the more strong and fruitful is the business. Most of the organizations have dedicated world class tools for maintaining CRM systems into their workplace. Some of the efficient tools used in most of the renowned organization are BatchBook, Salesforce, Buzzstream, Sugar CRM etc.

NEED FOR CRM

To meet the changing expectations of customer due to: a.Social and demographic factors. b.Economic situations. c.Educational standards d.Competitors Product e. experience To mange dissatisfied customers

CRM includes

Identifying and targeting their best customers, managing marketing campaigns and generating quality leads for the sales team. Assisting the organization to improve telesales, account, and sales management by optimizing information shared by multiple employees, and streamlining existing processes (for example, taking orders using mobile devices) Allowing the formation of individualized relationships with customers, with the aim of improving customer satisfaction and maximizing profits; identifying the most profitable customers and providing them the highest level of service. Providing employees with the information and processes necessary to know their customers, understand and identify their needs and effectively build relationships between the company, its customer base, and distribution partners.

Marketing
Marketing is the process used to determine what products or services may be of interest to customers, and the strategy to use in sales, communications and business development. It generates the strategy that underlies sales techniques, business communication, and business developments. It is an integrated process through which companies build strong customer relationships and create value for their customers and for themselves. Importance Of Marketing Marketing is a very important aspect in business since it contributes greatly to the success of the organization. Production and distribution depend largely on marketing. Many people think that sales and marketing are basically the same. These two concepts are different in many aspects. Marketing covers advertising, promotions, public relations, and sales. It is the process of introducing and promoting the product or service into the market and encourages sales from the buying public. Sales refer to the act of buying or the actual transaction of customers purchasing the product or service. Marketing Promotes Product Awareness to the Public Marketing Helps Boost Product Sales Marketing Builds Company Reputation

Advantages and Disadvantages of the CRM

The main advantage that brings harnessed the implementation of the Administration of the Relationships with the Clients in a enterprise is the increment of the information that this have of its current and potential clients, what allows to address the offer toward its desires and necessities, increasing this way the grade of satisfaction and optimizing its cycle of life. Other advantages that brings harnessed the implementation of the CRM is the increases of the sales and the reduction of the sale cycle. The disadvantages are so much related with the high costs that has the application of CRM, in terms of economic Resources as likewise human, and with the difficulty that has the handling of the given information the reticence of some sectors to share it and also to the risk of to invade the client's privacy and to expose it to situations not wanted The micro and small companys have the advantage of having less clients and less personal what facilitates him the handling of the information and makes difficult the appearance of problems to share it. The fact of managing a low flow of information also reduces since the costs many times it is not necessary to acquire a special software to make it but rather you can take manually or in simple programs as the Access. A problem that you can sometimes present in the companys of smaller size is the lack of formalization of the procedures and the lack of the employees' interest for submit in the importance that they have these and in the philosophy of work of the company. Conclusion Conclusion CRM systems have greatly simplified customer handling across many industry sectors. That it enables all arms of an organization to access and analyze detailed information means better understanding of individual roles, and the customers too feel important when being catered to professionally. In short, its a win-win for all involved. With the word spreading, CRM, especially OnDemand CRM will become the definitive tool for customer management in a matter of just a few years.