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Customer relationship management (CRM)
Customer relationship management (CRM) is a broad term that covers concepts used by companies to manage their relationships with customers, including the capture, storage and analysis of customer information.
Aspects of CRM
There are three aspects of CRM which can each be implemented in isolation from each other:
- Operational CRM- automation or support of customer processes that include a company’s sales or service representative
- Collaborative CRM- direct communication with customers that does not include a company’s sales or service representative (“self service”)
- Analytical CRM- analysis of customer data for a broad range of purposes
META Group (acquired by Gartner in April 2005) developed this conceptual architecture in the late-1990s, and dubbed it the “CRM Ecosystem”
Operational CRM
Operational CRM provides support to "front office" business processes, including sales, marketing and service. Each interaction with a customer is generally added to a customer's contact history, and staff can retrieve information on customers from the database as necessary.
One of the main benefits of this contact history is that customers can interact with different people or different contact “channels” in a company over time without having to repeat the history of their interaction each time.
Consequently, many call centers use some kind of CRM software to support their call centre agents.
Collaborative CRM
Collaborative CRM covers the direct interaction with customers. This can include a variety of channels, such as internet, email, automated phone (Automated Voice Response AVR). It can generally be equated with “self service”.
The objectives of Collaborative CRM can be broad, including cost reduction and service improvements.
Analytical CRM
Analytical CRM analyses customer data for a variety of purposes including
- design and execution of targeted marketing campaigns to optimise marketing effectiveness
- design and execution of specific customer campaigns, including customer acquisition, cross-selling, up-selling, retention
- analysis of customer behaviour to aid product and service decision making (e.g. pricing, new product development etc.)
- management decisions, e.g. financial forecasting and customer profitability analysis
- prediction of the probability of customer defection (churn).
Analytical CRM generally makes heavy use of predictive analytics.
Strategy
Several commercial CRM software packages are available which vary in their approach to CRM. However, CRM is not just a technology, but rather a holistic approach to an organisation's philosophy in dealing with its customers. This includes policies and processes, front-of-house customer service, employee training, marketing, systems and information management. Hence, it is important that any CRM implementation considers not only technology, but furthermore the broader organisational requirements.
The objectives of a CRM strategy must consider a company’s specific situation and its customers needs and expectations.
Technology Considerations
The technology requirements of a CRM strategy can be complex and far reaching. The basic building blocks include
- A database to store customer information. This can be a CRM specific database or an Enterprise Data warehouse.
- Operational CRM requires customer agent support software.
- Collaborative CRM requires customer interaction systems, eg an interactive website, automated phone systems etc.
- Analytical CRM requires statistical analysis software as well as software that manages any specific marketing campaigns.
Each of these can be implemented in a basic manner or in a high end complex installation.
Successes
While there are numerous reports of "failed" implementations of various types of CRM projects, these are often the result of unrealistic high expectations and exaggerated claims by CRM vendors.
In contrast there are a growing number of successes. One example is the National Australia Bank (NAB) which has pursued a CRM strategy for over ten years and has won numerous awards for its efforts.
Privacy and Data Security
The data gathered as part of CRM must consider customer privacy and data security. Customers want the assurance that their data is not shared with third parties without their consent and not accessed illegally by third parties.
Customers also want their data used by companies to provide a benefit for them. For instance, an increase in unsolicited telemarketing calls is generally resented by customers while a small number of relevant offers is generally appreciated by customers.
(21) Comments
i have a nokia 6230i . how to call barred features activated
We seem to talk a lot about this and it all sounds beautifully in theory but surprisingly there are still notorious companies that have no clue about this IMPORTANT business concept, there are still companies that still don't know what answering services are supposed to be about, and the list goes on and on. I really hope that time will make the difference between these companies and those who take customer responsibility seriously.
on,30/09/2008 i lost my mobile.
my mobile is LG KG 195
what can i do to find my mobile?
please help me.............
My cell nokia 5200 with airtel sim number 9949795999 lost please trace out it 'sir' or 'madam'
i am lost my mobile with air tel sim no:-9611409077 please
find. IMEI no:-356922-01-135038-7
I LOST MY PHONE ON 29/03/2009 ,MY MOBILE IS :-KP 220.
MY NUMBER IS :-9791653384. PLEASE HELP ME ........
I'm Elangovan, While i am travelling my mobile Nokia 3500 classic Black color mobile thefted by some body near Central . Here is i have given my IEMI no, i have no other sources to help me except u!
Please help me, it's just one year old ,
i bought it on 16/02/2008
Please help me sir.
Name: Elangovan.m
Address: No.4\4, 6th cross street
Rajiv gandhi nagar, Erukkancherry,Chennai-600 118
Phone model: 3500 classic black
Make: Nokia
Last Received No.: 9840101830
E-mail for communication: elavas86@gmail.com
Missed date: 17/04/2009 - Night (9'0 clock)
IMEI No.: 357686017891651
Please Help Me Out.
I'll be very thankful to you.
Thanks & Regards
Elangovan.M
My home P.no :- 9789836243
reply
My cell nokia 1600 with BSNL sim number 9453888877 lost please trace out it 'sir' or 'madam'
We have an analytical CRM and for a sales business, it really helps the associates interact with customers, it will make automatic recommendations based on buying patterns for upsells and so on, for instance when a customer purchases adjustable beds they might receive coupons or newsletters for coupons on sheets or bedding for the bed, and the salesperson will be reminded to ask during the sale if the customer needs accessories. Additionally, crms are helpful for keeping track of issues and tickets as well. Thanks for the informative post!
hi every body
i am from pakistan . due to some probelmc=s there is some loan on my parents of 10000 dollar,
for this purpose i appeal to evrybody who read my message plesae help me.
i will be very thankful
please give me response
(imran_aslam789@yahoo.com)
please block my phone which was theft in train.
IMEI NO- *359226/02/101829/4*
I have Tashibo TS-910i china mobile, in this devise with the incoming call it appears incoming call city that could not be understandable. Please rectify this problem (How to delete the incoming call city names)
Dear Sir,
It is requested you to please trace of IMEI No. 356908037229394 of my nokia mobile, which lossed on 06 Oct 2009 in mumbai (maharashta India)
If it is not possible further request you to please block the same.
My mobile have a sim of AIRTEL no. - 9963733428
Regards
Your s
SHIV DHANI
Ph - 08912567207
A leader’s future success is not driven by either the chances they take or by postponing difficult decisions, but by the conscious and intended choices they make today.
http://www.casinogameguru.com/
fine
am 30yr guy how can i increase my height is there any possibility to increase it ? if yes let me knw?
Good view of CRM systems as a whole. I’d like to focus my comment on Strategy, a very important necessity for the success of your CRM system. Knowing where to begin with a strategy is often the hardest part. The strategy must be based on the customers' needs and the requirements of your staff to meet them. The strategy should endeavor shorter lead cycle times with customers; consider end user training; include a data audit; and establish new analytical measures tied to customer-centricity. Additional recommendations can be read from the whitepaper Intelestream has written on the subject which can be downloaded by visiting: http://www.intelestream.net/en/whitepapers/crm-as-a-strategy.html
Dear Sir,
I purchased Nokia mobile (Model No 7210 Supernova) last year.It had a warranty for one year.
I have lodged many complaints in the past and still the Software problems keep coming up.
Now I am fully dissatisfy with the services and need to get my Phone Replaced, or my
amount with the suitable interest rate and compensation, else I will file a complaint with
the Consumer Court under the Consumer Protection Act of 1986 Sec-12 .
I seek compensation for the mental agony caused due to his deficiency in services and inconvenience faced due to the problems occurring on day to day basis.I m completely fed up and frustrated now.
Vasu Patil
House No.8, 608 B Ward Salokhe Park Kolhapur ,Maharastra
E-mail: patilvasudeo011@gmail.com
Ph. +91-9960283244,+91-9028458244
Dt. 29/11/2010
Well I truly liked reading the idea. This particular article supplied by an individual can be quite successful once and for all arranging.
The relationship with the customers is very important. For example, I manage a SEO company and is very difficult to try to obtain just the best results in Google for your clients. You must talk often with they and to explain the process behind optimization.
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