Basic concepts of CRM

Type :

Term papers

Pages :

23 pages

Format :

.doc

Published date :

05/28/2009

Category :

Business & market

Sub category :

Management

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Summary :

What is customer relationship management?
Origin of CRM: history
The value of CRM
Aspects of CRM
1. Operational CRM
2. Collaborative CRM
3. Analytical CRM
4. Technology considerations
Key functionalities
1. Marketing
2. Sales
3. Service
4. Privacy and data security
Six steps to build successful customer relationship
1. Setting a clear customer experience strategy
2. Selecting the correct people
3. Developing, motivating and managing your people
4. Establishing effective service delivery processes
5. Building in continuous improvement
6. Ensuring managers are the key change-agents
Importance of crm
Components of CRM
1. Customer prospecting
2. Relations with customers
3. Interactive management
4. Understanding customer expectations
5. Empowerment
6. Partnerships
7. Personalization
CRM and the customer life cycle
Key elements of CRM
Advantages of CRM
Potential drawbacks of CRM
CRM model
Basic concepts of CRM
1. Data mining
2. Collaborative filtering
3. Segmentation
Practical tips for successive implementation of CRM
Latest CRM trends
Conclusion
Suggestions
References

Abstract

Customer Relationship Management (crm) refers to the methodologies and tools that help businesses manage customer relationships in an organized way. crm stands for Customer Relationship Management. It is a process or methodology used to learn more about customers' needs and behaviors in order to develop stronger relationships with them. There are many technological components to crm, but thinking about crm in primarily technological terms is a mistake. The more useful way to think about crm is as a process that will help bring together lots of pieces of information about customers, sales, marketing effectiveness, responsiveness and market trends. crm helps businesses use technology and human resources to gain insight into the behavior of customers and the value of those customers. Customer Relationship Management is becoming a common and important concept in many industries. Customer Relationship Management (crm) is the art and science of building profitable and mutually beneficial relationships with your customers.

crm applications, also known as front-office applications, help organizations manage critical customer relationships by supporting all customer-centric processes within an enterprise, including marketing, sales, and customer support. A crm solution enables a company which has problems retaining existing customers or has an unsophisticated marketing strategy, to identify the customer demographics they can target and help pinpoint the direct causes of customer attrition. These systems are created for and utilized by customers, partners, and prospects to gather product and service information, obtain pricing quotes, place and track orders, solve product- and service-related problems and questions, and much more.