Ronformayor.com

Posts Tagged ‘Strategy’

Customer Relationship Management (CRM) Your Key Business Strategy

At its core Customer Relationship Management (CRM) is a business strategy and underlying that strategy is a number of CRM software applications, including marketing and customer service. Companies use these applications to make their customer management more efficient, more customer centric to satisfy their customers service requirements. What form the business strategy takes can be different depending on the type of organization and the objectives to be achieved. Generally, CRM is used extensively by sales, marketing and customer service teams. Historically, CRM started as a contact management application, a repository to hold customer details and some activities such as telephone calls, meeting times and a rudimentary record of notes. Linking people within companies was also an important step in the evolution of CRM. Sales force automation however realized the value of putting actual sales information into the database to establish sales management activities such as sales pipelines and forecasting opportunities. Today, CRM has migrated itself to being a relationship management tool. It is very different to what was the traditional use of CRM with access to customer details through a customer database. In fact, Microsoft now refers to CRM as xRM anything relationship management with corporate processes automated through workflow management. Microsoft CRM software, like most CRM now has become more specialised, more vertical by addressing real niche areas. Read the rest of this entry »