Customer relationship management (CRM) is a model for managing a company’s interactions with current and future customers. It involves using technology to organize, automate, and synchronize sales, marketing, customer service, and technical support.
Marketing and Customer Service
CRM systems track and measure marketing campaigns over multiple networks. These systems can track customer analysis by customer clicks and sales. Places where CRM is used include call centers, heavily utilized in social media, direct mail, data storage files, banks, and customer data queries.
CRM in customer contact centers
CRM systems are Customer Relationship Management platforms. Their goal is to track, record, store in databases, and then data mine the information in a way that increases customer relations (predominantly increased ARPU, and decreased churn). The CRM codifies the interactions between you and your customers, so you can maximize sales and profits using analytics, KPIs, to give the users as much information on where to focus your marketing, customer service to maximize revenue, and decrease idle and unproductive contact with your customers. The contact channels (now aiming to be Omni-Channel from Multi-Channel) uses such operational methods as contact centers. The CRM software is installed in the contact centers, and help direct customers to the right agent or self-empowered knowledge. CRM software can also be used to identify and reward loyal customers over a period of time.
CRM software programs can automatically synchronize suitable appointment dates, times, and methods for customer contact. Once appointments are saved in a systems calendar the systems calendar will remember. Then, later retrieve the appointment and send a represented message for action.
CRM in B2B market
The modern environment requires one business to interact with another via the web. According to a Sweeney Group definition, CRM is “all the tools, technologies and procedures to manage, improve, or facilitate sales, support and related interactions with customers, prospects, and business partners throughout the enterprise”. It assumes that CRM is involved in every B2B transaction.
Despite the general notion that CRM systems were created for the customer-centric businesses, they can also be applied to B2B environments to streamline and improve customer management conditions. B2C and B2B CRM systems are not created equally and different CRM software applies to B2B and B2C conditions. B2B relationships usually have longer maturity times than B2C relationships. For the best level of CRM operation in a B2B environment, the software must be personalized and delivered at individual levels.