Customer Relationship Management (CRM) is a strategy
for managing a company’s relations and interactions with
customers, clients and sales prospects. It involves using
technology to organize, manage, automate, and
synchronize business processes.
For example, an enterprise might build a database about
its customers that described relationships in sufficient
detail so that the company, salespeople, people providing
service, directly could access information, match
customer needs with product plans and offerings, remind
customers of service requirements.
Marketing Customer services
Identify & Target
Generate leads for
the sales team.
Develop the client
Attracting & retaining
Prospect Relationship Management (PRM) . This marketing concept
was founded in the 2000s, refers to the methods and tools (software)
for managing leads, is to tell potential customers approached by the
company. The Prospect Relationship Management (PRM) is
complementary to the customer relationship management (CRM).
The Prospect Relationship Management (PRM) assumes that the
relationship with prospects must be considered to maximize the
opportunities for conversion, using various techniques, including data
mining, software monitoring, contact centers, etc..
Customer Relationship Management includes:
CRM processes that help identify and target their best
customers, generate quality sales leads, and plan and
implement marketing campaigns with clear goals and
CRM processes that help form individualized relationships
with customers (to improve customer satisfaction) and provide
the highest level of customer service to the most profitable
CRM processes that provide employees with the information
they need to know their customers' wants and needs, and
build relationships between the company and its customers.
The three phases in which CRM support the relationship
between a business and its customers are to:
1. Acquire: CRM can help a business acquire new customers
through contact management, selling, and fulfillment.
2. Enhance: web-enabled CRM combined with customer
service tools offers customers service from a team of sales
and service specialists, which offers customers the
convenience of one-stop shopping.
3. Retain: CRM software and databases enable a company to
identify and reward its loyal customers and further develop its
targeted marketing and relationship marketing.
Customer relationship management tools include
software and browser-based applications that collect and
organize information about customers. For instance, as
part of its CRM strategy, a company might use a
database of customer information to help construct a
customer satisfaction survey, or decide what the product
that needs to develop or which new product their
customers might be interested in.
Benefits of CRM
The use of a CRM systems will confer several advantages
to a business:
Quality and efficiency.
Decision making support.
Develop the product.
Develop the clients relationship.
Develop targeted marketing.
Generate leads for the sales team.