Objectives of CRM
CRM, the technology, along with human resources of the company, enables the company to analyze the behavior of customers and their value. The main areas of focus are as the name suggests: customer ,relationship , and the management of relationship and the main objectives to implement CRM in the business strategy are:
The CRM processes should fully support the basic steps of customer life cycle . The basic steps are:
Selection of the Right CRM Technology
The point here is one size doesn't fit all . There is no single CRM software or formula which will give instant success to all companies. For small or medium enterprises, the requirement is different from that of big firms. Most CRM packages provide excellent sales force automation, but not equally good integration with computer telephony, or with web. These are adequate for small and medium firms but not for large firms. A mix of different software to link the databases, data warehousing software, contact management software, and a CRM package will go a long way in helping to upgrade the small companies.
Other internet enabled applications available are enterprise resource planning packages, e-commerce applications, relationship management packages, enterprise portal applications etc. One can adopt the best practices to slash costs, introduce efficiencies into supply chain and internal operations. Today t he global market for CRM services and solutions is currently worth $148 billion. This proves to show the numerous choices available in this field.
The following are the benefits of adopting CRM processes: