| Remember when you shopped at the corner store | | | | totally on the customer's needs without being |
| where the owner knew all his customers by name? | | | | distracted by the mechanics of the operation. |
| He knew your tastes and needs and could often | | | | For this to happen, you need a CRM solution that |
| predict what you'd buy. And you rewarded him with | | | | enables your sales operation to share information. |
| your continued custom and loyalty. People often | | | | This will allow them to instantaneously create custom |
| lament the loss of this personal touch in business. | | | | quotes and proposals and configure products and |
| After all, it's hardly possible for a company with a | | | | services to meet customer needs. It's essentially a |
| vast product line and a global customer base. Well | | | | matter of personalization and all part of providing an |
| think again, because Customer Relationship | | | | exceptional customer experience. |
| Management (CRM) allows you to create that | | | | Next we'll look at how CRM works in the all important |
| personal touch and gain the trust and loyalty of your | | | | field of customer service. Customer service involves |
| customers. Read on and find out how. | | | | forging a relationship with your customers. It requires |
| Customers are the greatest asset your business has | | | | developing responsiveness to their needs. This |
| so it makes sense to take care of them as much as | | | | requires information that is timely, accurate, and |
| possible. For one thing, serving existing customers is | | | | readily available to those who need it. It's a vital way |
| very cost effective in the long run (acquiring new | | | | to differentiate your business. And let's not forget |
| customers costs up to five times as much as serving | | | | after-sales service. CRM gives you the tools to follow |
| existing ones). What's more, this reputation for | | | | up on all customer transactions and let your |
| service enhances your company's reputation which | | | | customers know you're there to support them. |
| leads to even more business. It's a win-win situation, | | | | Finally, there's the all important factor of marketing |
| but how do you manage it in the modern complex | | | | effectiveness. CRM's role here is to use technology |
| business environment? That's where CRM comes in. | | | | to create, automate, manage and track the efficacy |
| With its origins in database marketing, Customer | | | | of your marketing programs. This means firstly |
| Relationship Management (CRM) is essentially a | | | | having the right tools. These tools will give you a |
| strategic use of IT to develop your relationship with | | | | clear picture of your market and so allow you to |
| your customers.CRM software uses sophisticated | | | | develop targeted and personalized marketing |
| data analysis to glean insights into customer | | | | campaigns. What's more, they will enable you to |
| behaviour and requirements. This lets you so | | | | optimally allocate funds and produce accurate |
| determine their precise wants and needs. And equally | | | | forecasts. Targeting your campaigns will be improved |
| importantly, it makes sure that information is in the | | | | too. For example, you can set up a system to group |
| hands of those who actually deal with your | | | | together customers with similar profiles to target |
| customers so they can deliver what the customer | | | | with a marketing campaign. |
| wants and needs. | | | | Essentially, CRM is the application of IT to the age-old |
| To illustrate the value of CRM to your company, we'll | | | | methodology of taking care of your customers. The |
| look at three major applications: sales force | | | | man in the corner shop could keep all the data in his |
| productivity, customer service, and marketing | | | | head. But in the complexity and volatility of the |
| effectiveness. | | | | modern business environment, you need the strategic |
| CRM boost sales force productivity in many ways. | | | | IT driven CRM solution. Using effective CRM can |
| Firstly, it provides accurate the up-to-date information | | | | mean the difference between success and failure. |
| that the sales force needs. But strategic CRM also | | | | Efficiency translates into increased customer |
| provides the tools to put that data into use. This | | | | satisfaction, your competitive edge, and ultimately, |
| empowers your sales team. They can now focus | | | | improved ROI. |