Customer Relationship Management â Get the WOW factor in your Business
Modern management gurus from across the world believe that one of the foundation pillars for a successful business is effective customer relationship management. In today's highly competitive atmosphere, this phenomenon and business practice can differentiate a booming establishment from a merely profitable one. The strategy of effectively nurturing and managing interaction with existing and prospective clients can graduate a satisfactory level production and sales to a stage of "exceed expectations" which all companies' desire.
A CRM process is a well thought out and structured approach towards customer confidence and hence sales in the long run. It converts the various customer interfacing arms of an organization like sales, customer service, marketing and technical support into a well oiled machine that aims not towards customer satisfaction but towards customer delight! The CRM strategy has many tools that an organization can adopt and customize to its own requirements. Some of the key tools are listed below:
â¢ Increased closure time and rate
â¢ Streamlined marketing and sales processes
â¢ Increased effectiveness of call center and other customer support operations
â¢ Reduction is expenses
â¢ Additional up- selling and cross â selling.
These tools along with other strategies like cost effectiveness of products and services as well as increase in market share can work wonders for any establishment. CRM business processes look at 3 basic aspects of an organization: The processes, people and technology. Let us discuss these 3 aspects in more detail:
Processes: These refer to the ways of conducting business. A CRM tool or process will aim at building a more customer centric way to carry out business. Therefore, while selecting any tool; the business should test all available tools to see which is the most effective for their organization.
People: People are the most valuable resources of any establishment. Having state of art technology and infrastructure as well as smartly structured processes will not be effective if the people within is not convinced about the advantages of establishing a new CRM system. The tools are designed to show the benefits, both from a customer as well as an employee point of view, to ensure all affected employees completely buy in the benefits of getting the new tool.
Technology: Most businesses heavily depend on some technology or other. Any medium or big sized establishment would need an efficient client management system for its sales, marketing and customer support divisions. Here it is important that careful consideration is given for platform selection. Integration of the new tool into the existing system and processes is another important factor for consideration to ensure uninterrupted business while the tool is being set up.