Customer Relationship Management (CRM) recognizes that customers are at the core of a company and that a company’s success depends on the effective management of relationships with them. CRM focuses on building lasting and sustainable relationships with customers that provide value for both the customer and the company.
CRM is a commercial strategy to choose and manage customers to optimize long-term value. CRM requires a business philosophy and culture to support effective marketing, sales and service processes.
We distinguish between three main types of CRM activities: analytical and collaboration.
1. Operational CRM
Operational CRM is related to typical business features that involve customer service, order management, billing / billing and automation and sales / marketing management.
2. Analytical CRM
Analytical CRM includes activities that capture, store, extract, process, interpret and report customer data to a user who then analyzes them as needed.
3. Collaborative CRM
Collaborative CRM takes care of all the necessary communication, coordination and collaboration between suppliers and customers.
Other CRM ratings have been devised by the types of programs or the services or products they offer.
In general, CRM is an approach that recognizes that customers are at the heart of the business and that the company’s success depends on the effective management of relationships with them. It overlaps something with the term of relative marketing, but not all that could be called relational marketing is actually CRM. Customer relations marketing is even wider as it contains a one-to-one relationship between the customer and the seller. To be a true marketing business one by one, a company must be able and willing to change its behavior towards a particular customer depending on what it knows about that client. Therefore, CRM is basically a simple idea: treat different customers differently Check Zoho CRM Pricing here www.itsolutionssolved.com.au/zoho-crm-pricing/. It is based on the fact that no two customers are exactly the same.
Therefore, CRM involves much more than just sales and marketing because a company must be able to change the way the products are configured or delivered service depending on individual customer needs. Smart companies have always encouraged customers’ active participation in the development of products, services and solutions. For the most part, however, it is traditional to be customer oriented to be oriented to the needs of the typical customer on the market: the average customer. To build lasting one-on-one relationships, a company must continuously interact with customers individually. One reason why many companies start focusing on CRM is that this kind of marketing can create great customer loyalty and as part of the process help the company’s profitability.
eCRM (electronic CRM)
CRM has been manually practiced by companies for generations. However, since the mid-1990s, CRM has been improved by several types of information technologies. CRM technology is an evolutionary response to environmental changes using new IT tools and devices. The term eCRM was designed in the mid-1990s when customers began using web browsers, the Internet and other electronic contact points (email, POS, call centers and direct sales). The use of these technologies made customer service and service to partners much more efficient and effective than before the Internet.
Through internet technologies, data generated about customers can easily be incorporated into marketing, sales and customer service applications and analysis. eCRM also includes online process applications such as segmentation and customization. The success or failure of these efforts can now be measured and changed in real time, which further increases client expectations. In a world connected to the Internet, eCRM has become a requirement for survival, not just a competitive advantage. eCRM covers a wide range of topics, tools and methods, ranging from the right design of digital products and services to pricing and loyalty programs.