"Customer relationship management (CRM) is a term applied to processes implemented by a company to handle its contact with its customers. CRM software is used to support these processes, storing information on customers and prospective customers. Information in the system can be accessed and entered by employees in different departments, such as sales, marketing, customer service, training, professional development, performance management, human resource development, and compensation. Details on any customer contacts can also be stored in the system. The rationale behind this approach is to improve services provided directly to customers and to use the information in the system for targeted marketing and sales purposes."
CRM is a term that has evoked resentment in the past, but what, as some people put it, is undergoing a transformation for the good. It had and still suffers from problems like demanding too much data input without being responsive to sales/service needs, considered a "management" tool to track whatever is going on rather than help create business and often just used as a centre for customer information. Hopefully, the perspective is undergoing major changes. CRM is no more just about storage/retrieval of customer information or ROI tracking, it is "all about the customer!".
CRM to me is a combination of front office & back office functionalities that enable organizations to "see" a customer. So we have many things under this umbrella - managing data, making sense out of it using analytical tools, helping organizations to effectively sell & service across channels and the list goes on. CRM is not software, but the way of putting customer at the heart of the organization.
Lousy post? I know the feeling, but I wanted something heartfelt about CRM to be the first post :)
Cheers!
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