Customer relationship management system wiki

Category:Customer relationship management - Wikipedia

customer relationship management system wiki

Jan 24, CRM systems compile customer data across different channels -- or points of contact between the customer and the company -- which could. Pages in category "Customer relationship management". The following 38 pages are in this category, out of 38 total. This list may not reflect recent changes. Aug 16, At its simplest definition, a CRM system allows businesses to manage business relationships and the data and information associated with.

This information is valuable as it provides demographic, behavioral, and value-based customer segmentation. These types of relationships can be both positive and negative. Some customers view themselves as friends of the brands, while others as enemies, and some are mixed with a love-hate relationship with the brand. Some relationships are distant, intimate or anything in between. Companies can collect this information by using surveysinterviews, and more, with current customers.

For example, Frito-Lay conducted many ethnographic interviews with customers to try and understand the relationships they wanted with the companies and the brands.

customer relationship management system wiki

They found that most customers were adults who used the product to feel more playful. They may have enjoyed the company's bright orange color, messiness and shape.

CRM - Wikipedia

These days, companies store and receive huge amounts of data through emailsonline chat sessions, phone calls, and more.

All of these are signs of what types of relationships the customer wants with the firm, and therefore companies may consider investing more time and effort in building out their relational intelligence.

Social media such as Facebook, Twitter, blogsetc. Understanding the customer and capturing this data allows companies to convert customer's signals into information and knowledge that the firm can use to understand a potential customer's desired relations with a brand.

This helps convert data into profits for the firm. Stronger bonds contribute to building market share. By managing different portfolios for different segments of the customer base, the firm can achieve strategic goals. For example, Harley Davidson sent its employees on the road with customers, who were motorcycle enthusiasts, to help solidify relationships. Other employees have also been trained in social psychology and the social sciences to help bolster strong customer relationships.

Customer service representatives must be educated to value customer relationships, and trained to understand existing customer profiles. Even the finance and legal departments should understand how to manage and build relationships with customers. These systems codify the interactions between company and customers by using analytics and key performance indicators to give the users information on where to focus their marketing and customer service.

This allows agents to have access to a caller's history to provide personalized customer communication.

Customer relationship management

The intention is to maximize average revenue per userdecrease churn rate and decrease idle and unproductive contact with the customers. The gamification of customer service environments includes providing elements found in games like rewards and bonus points to customer service representatives as a method of feedback for a job well done. Automation prevents this by having pre-recorded audio messages that help customers solve their problems. For example, an automated contact center may be able to re-route a customer through a series of commands asking him or her to select a certain number in order to speak with a particular contact center agent who specializes in the field in which the customer has a question.

This also saves time on behalf of the employees. These customers also share their own opinions and experiences with a company's products and services, giving these firms more insight. Therefore, these firms can both share their own opinions and also track the opinions of their customers.

The systems take in information based on a customer's physical location and sometimes integrates it with popular location-based GPS applications. It can be used for networking or contact management as well to help increase sales based on location.

For the best level of CRM operation in a B2B environment, the software must be personalized and delivered at individual levels. CRM is a combination of policies, processes, and strategies implemented by a company that unify its customer interaction and provides a mechanism for tracking customer information. Front office operations — Direct interaction with customers, e. Back office operations — Operations that ultimately affect the activities of the front office e.

This external network supports front and back office activities.

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Analysis — Key CRM data can be analyzed in order to plan target-marketing campaigns, conceive business strategies, and judge the success of CRM activities e. There are several different approaches to CRM, with different software packages focusing on different aspects. Interactions with customers are generally stored in customers' contact histories, and staff can retrieve customer information as necessary.

The contact history provides staff members with immediate access to important information on the customer products owned, prior support calls etc. Consequently, many call centers use some form of CRM software.

Customer-relationship management

Operational CRM processes customer data for a variety of purposes: Designing and executing targeted marketing campaigns Designing and executing campaigns, e.

Features include alerts sent to sales staff regarding: Campaign management functions include: Target groups formed from the client base according to selected criteria Sending campaign-related material e. Staff members within the departments can share information collected when interacting with customers.

For example, feedback received by customer support agents can provide other staff members with information on the services and features requested by customers. Collaborative CRM's ultimate goal is to use information collected by all departments to improve the quality of services provided by the company. Geographic data can be analysed to provide a snapshot of potential customers in a region or to plan routes for customer visits.

However, as mentioned above, CRM is not just a technology but rather a comprehensive, customer-centric approach to an organization's philosophy of 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 considerations stretch beyond technology toward the broader organizational requirements.

Information gained through CRM initiatives can support the development of marketing strategy by developing the organization's knowledge in areas such as identifying customer segments, improving customer retention, improving product offerings by better understanding customer needsand by identifying the organization's most profitable customers.

Some companies consider a CRM strategy only to focus on the management of a team of salespeople.

Customer relationship management - Wikiversity

However, other CRM strategies can cover customer interaction across the entire organization. Many commercial CRM software packages that are available provide features that serve the sales, marketing, event management, project management, and finance industries. Successes[ edit ] While there are numerous reports of "failed" implementations of various types of CRM projects,[4] these are often the result of unrealistic high expectations and exaggerated claims by CRM vendors.

customer relationship management system wiki

Many of these "failures" are also related to data quality and availability. Data cleaning is a major issue. If a company's CRM strategy is to track life-cycle revenues, costs, margins, and interactions between individual customers, this must be reflected in all business processes. Data must be extracted from multiple sources e.