Understanding Customer Relationship Management, Its Aim And Benefits

1019 Words Apr 25th, 2016 5 Pages
Although the term "customer relationship management" is self-explanatory, it behooves any attentive people 's manager or business owner - dealing directly or indirectly with customers - to understand every aspect of it, as it impacts long-term profitability of the organization.

The aim of Customer Relationship Management or CRM is to help increase customer satisfaction by digitizing the 'business processes relevant to customer 's engagement with the organization. '

CRM is a software. The philosophy behind is to enable a customer to deal with company in a trouble-free manner. It is a strategy to preserve long-term relations with customers.

CRM is about storing, managing or taking care of all aspects of interaction with a customer through software (and multiple smaller applications) and is sometimes used in conjunction with Customer Lifecycle Management or CLM, which is a measurement of multiple customer related figures or statistics that measure results.

It is one window for all communication a company had with any number of customers. CRM, when implemented throughout a company, is fed with any and all data pertaining customers and prospects. The most common example of CRM application is seen in contact or call-centers.

For instance, a prospect calls up after finding your company by typing the words "home water purification service" on Google and later ends up paying for the product using Zed Bank 's…

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