Customer Relationship Management (CRM)

By

Rajdeep Singh Bundela

DEFINITION AND MEANING OF CRM

Customer relationship management (CRM) is a system for managing a company's interactions with current and future customers. It often involves using technology to organize, increase sales, marketing, customer service, and technical support.

Process of C.R.M.

The purpose of CRM

The focus of CRM is on creating value for the customer and the company over the longer term” .

CRM enables organisations to gain

‘competitive advantage’ over competitors that

supply similar products or services .

Why is CRM important?

1. Sales Strategy

2. Promotion

3. Customer Service Improvement

4. Make a long-term relationships

5. Take a feedback

Step of CRM

Information Technology in CRM :

Technology plays a imp. role in CRM .

Technology can be used to keep a record of

customers names and contact details in addition to

their history of buying products or using services.

This information can be used to target customers in a

personalised way and offer them services to meet their

specific needs.

Challenges in CRM

• Richness of customer data.

• Integrated view of customer information.

• Feedback mechanism from customer.

• Intelligence at operational touch points.

• Consistence of communication.

References

What is CRM ? – Internet Customer Relationship Management -

Wikipedia. CRM image – Internet