AO 02006 BRO CRM
Customer Relationship Management (CRM) is a business philosophy which provides a vision for the way your company wants to deal with your customers. To deliver that vision, you need a CRM strategy which gives shape to your sales, marketing, customer service and data analysis activities. For most companies, the aim of a CRM strategy is to maximise profitable relationships with customers by increasing the value of the relationship for both the vendor and the customer.
Management (CRM) is a business philosophy which provides a vision for the way your company wants to deal with your customers
Software solutions and new technologies may facilitate the new ways of working required by a CRM strategy but simply implementing a
CRM product will not, in itself, deliver increased customer satisfaction. Instead, companies need to introduce new cross-departmental processes which allow them to complete the four steps in the CRM cycle: plan, interact, process, leverage – and then plan anew.
Many CRM applications tackle only one or two elements of the CRM cycle. As a result, a high proportion of CRM projects - which are based around implementing a particular package or suite of applications - fail to increase customer satisfaction, improve customer loyalty or deliver a return on investment for the supplier in the form of increased revenues or profits.
Any CRM initiative should therefore start with a vision and strategy which lays out the company’s aims and objectives. You must then adjust your processes and organisational structures so that they will allow you to exe-
cute that strategy effectively. These processes need to be underpinned by a CRM architecture which connects interaction channels with