| At its core Customer Relationship Management | | | | communications, manage direct marketing campaigns, |
| (CRM) is a business strategy and underlying that | | | | manage regulatory and compliance information against |
| strategy is a number of CRM software applications, | | | | each of the super fund members such as tax |
| including marketing and customer service. Companies | | | | compliance. Importantly, each communication to each |
| use these applications to make their customer | | | | member is recorded so that the superannuation |
| management more efficient, more customer centric | | | | company has a record of its obligations to its |
| to satisfy their customers service requirements. | | | | members and regulatory obligations. |
| What form the business strategy takes can be | | | | Relationships on a mine site can be managed. There |
| different depending on the type of organization and | | | | might be a need to manage the process around the |
| the objectives to be achieved. Generally, CRM is used | | | | environmental management of that mine site. Certain |
| extensively by sales, marketing and customer service | | | | processes may need to be followed, monitored and |
| teams. | | | | recorded to ensure compliancy around occupational |
| Historically, CRM started as a contact management | | | | health and safety issues for staff and suppliers. |
| application, a repository to hold customer details and | | | | To maximise your investment in your CRM system, |
| some activities such as telephone calls, meeting times | | | | your business must be clear in its objectives as to |
| and a rudimentary record of notes. Linking people | | | | why such a system will be deployed. Is it just for |
| within companies was also an important step in the | | | | sales automation? Will it be used by marketing to |
| evolution of CRM. Sales force automation however | | | | communicate with clients or as a lead generation |
| realized the value of putting actual sales information | | | | tool? What requirements does customer service |
| into the database to establish sales management | | | | have with each client? |
| activities such as sales pipelines and forecasting | | | | Mapping your business processes is a key goal, |
| opportunities. | | | | understanding the primary interactions that each |
| Today, CRM has migrated itself to being a relationship | | | | division of your company has with clients. Having this |
| management tool. It is very different to what was | | | | knowledge will enable workflow to be developed and |
| the traditional use of CRM with access to customer | | | | processes to be automated as much as possible. By |
| details through a customer database. In fact, | | | | doing this you will understand how to integrate each |
| Microsoft now refers to CRM as xRM anything | | | | of sales, marketing and customer service to get real |
| relationship management with corporate processes | | | | value from CRM. |
| automated through workflow management. Microsoft | | | | Whether you choose a web based or an in-house |
| CRM software, like most CRM now has become | | | | CRM software solution will depend on your |
| more specialised, more vertical by addressing real | | | | requirements. If you are a small company with limited |
| niche areas. | | | | budget, starting out with a web based, pay per user |
| There are many examples of CRM extending its | | | | solution will give you a great start in managing your |
| value in niche areas: | | | | relationships. Larger companies can justify the cost of |
| CRM is used by event management companies to | | | | specific configurations and customisation that can be |
| manage event registrations, manage bookings and to | | | | gained from an in-house solution. |
| market regularly with people who sign up for regular | | | | Regardless of the solution you choose you will need |
| contact. | | | | to understand your business strategy and how |
| It is used by superannuation (pension) fund | | | | better managing your relationships will give you a |
| companies for their membership. These companies | | | | return on investment. The real benefit out of any |
| manage the communication with fund members, send | | | | CRM software solution is meeting the goals and |
| out marketing information, manage email | | | | objectives defined before you start. |