Customer Relationship Management

The future of all small and big size businesses is largely decided by the Customer relation management (CRM). It symbolizes the company’s relationship with client, customers and purchase leads. CRM defines business strategy practiced by businesses to increase their profitability. CRM is not only crucial for present scenario but decides the company’s future prospects as well. It helps in deciding the future plans and policies of the business.

The role if IT is very vast and deep. It has become an integral part in almost all spheres of life and its presence in the business is just one of them. From production to manufacturing all aspects are influenced by IT. To make the business procedure faster and customer service effective the need of a new tool was felt. CRM software was designed and developed to make business processes more efficient and customer-service more advanced. CRM provides easy access to relevant data. It helps in understanding customer’s preference and thereby helps in providing quality service.

CRM helps in building a strong customer relationship and it helps in maximizing the ROI. It also helps in managing various business activities such as:

  • Sales and Marketing
  • Billing and Expense
  • Project Management
  • Human Resources

The main task of the CRM is to establish a connection between the management team and customer service staff and improves the customer service. A good CRM helps the business in sorting out customer’s issues and concerns in a fast way.  CRM is also useful for generating reports for product development and new ideas. These reports are also useful for the advertising departments as it helps in bringing out which idea will work and which will not.

The latest technology and development in the IT has revolutionised CRM as well. Companies are implementing the latest techniques and software to speed-up the process. The root objective of customer relation management is to make new customers and maintain good and cordial relations with old customers. Companies are using customize the CRM software to make the process easy and effective.

A customer relation management service helps in providing effective customer service. CRM involves many tools to support the excellent customer service. CRM increases the efficiency of help desk agent and it places the help desk agent at the same level as sales and marketing teams.

A good customer service will not only deal with the customer’s issue but it will also keep the brand name intact. Creating ads and replying mail is a good way to interact with the customers but if a business fails to meet the client’s expectation it could result in loosing of a customer.

CRM is not just a software that pool all the relevant information, though earlier it was considered as a useful tool for collecting data but now with the revolutionized trend of business the role of CRM has changed a lot. CRM provides concepts for future business. CRM revolves around 3 essential pivots: people, technology and company performance in terms of its tasks.

Choosing a right CRM solution for the business need is very crucial. Before selecting CRM software it is necessary to know your requirement. While choosing a CRM consider few points and choose a right solution for your business:

  • Choose a CRM solution that is risk free and gives you value for money.
  • Make sure that the software suits your marketing need.
  • Choose an application with all the necessary features to manage your business and tools to improve customer relationship.
  • Customization and scalability are few important features to look for
  • Make sure that your tool is user-friendly
  • Check if the software allows upgrades or add-ins according to your requirements.

Successful integration of a Customer Relationship Management system in any company or office is not an easy task. Most of the companies fail in integrating a CRM system in their existing system. To make CRM successful it is essential to spend quality time in analyzing the need and requirement of the company and educate how it will improve TQM of an organization.

A CRM also plays a significant role in business expansion. As CRM provides complete and authentic data it will help in finding the new business avenue and in optimizing the available resources. The CRM system helps in managing and coping with the increasing numbers of customers and data. The prospect of all kind of business is largely decided by the availability of relevant data and undoubtedly CRM is one of the best ways to manage data and information. Utilize the available resources, integrate the latest technology and set the new record of success.

  • I am a MBA student and I have start gaining knowledge about all the beneficial methods which should be take in care in the business world. I liked the wonderful explanation given by you about the CRM. Now i want to know more about it thus i will search for it.

  • Smarttrainershyd

    CRM is one of the most important aspects of today’s business. Organizations have now become customer centirc and hence todevelop customer centric approach, one has to have an effective CRM policy. This also needs CRM initiatives by the Top management followed by a dedicated team of CRM professionals in addition to the required CRM software and the abi;lity to use it for the benefit of the organization.

  • Ruchika_jain4

    can u plz give the answer of ….role of crm in marketing????