Customer
relationship management
Customer
relationship management (CRM) is a widely implemented
model for managing a company’s interactions with customers, clients, and sales prospects. It involves using technology to
organize, automate, and synchronize business processes—principally sales activities, but also those
for marketing,customer relation, and technical support.The overall goals are to find, attract, and win new clients;
nurture and retain those the company already has; entice former clients back
into the fold; and reduce the costs of marketing and client service.Customer
relationship management describes a company-wide business strategy including
customer-interface departments as well as other departments. Measuring and
valuing customer relationships is critical to implementing this strategy.
Benefits of Customer
Relationship Management
A Customer
Relationship Management system may be chosen because it is thought to provide
the following advantages:
§ Quality
and efficiency
§ Decrease
in overall costs
Challenges
Successful
development, implementation, use and support of customer relationship
management systems can provide a significant advantage to the user, but often
there are obstacles that obstruct the user from using the system to its full
potential. Instances of a CRM attempting to contain a large, complex group of
data can become cumbersome and difficult to understand for ill-trained users.
The lack of senior management sponsorship can also hinder the success of a new
CRM system. Stakeholders must be identified early in the process and a full
commitment is needed from all executives before beginning the conversion. But
the challenges faced by the company will last longer for the convenience of
their customers.
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