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CRM is the abbreviation for customer relationship management. It entails all aspects of interaction that a company has with its customer, whether it is sales or service-related. CRM is often thought of as a business strategy that enables businesses to: Understand the customer Retain customers through better customer experience Attract new customer Win new clients and contracts Increase profitably Decrease customer management costs

How CRM is Used Today
While the phrase customer relationship management is most commonly used to describe a business-customer relationship, CRM systems are used in the same way to manage business contacts, clients, contract wins and sales leads. Customer relationship management solutions provide you with the customer business data to help you provide services or products that your customers want, provide better customer service, cross-sell and up sell more effectively, close deals, retain current customers and understand who the customer is. Recommended Reading: Customer Relationship Management Reports Explained. Technology and the Web has changed the way companies approach CRM strategies because advances in technology have also changed consumer buying behavior and offers new ways for companies to communicate with customers and collect data about them. With each new advance in technology -- especially the proliferation of selfservice channels like the Web and smartphones -- customer relationships is being managed electronically. Many aspects of CRM relies heavily on technology; however the strategies and processes of a good CRM system will collect, manage and link information about the customer with the goal of letting you market and sell services effectively. Organizations frequently looking for ways to personalize online experiences (a process also referred to as mass customization) through tools such as help-desk software, email organizers and different types of enterprise applications

Definition: The ways in which your company communicates and deals with existing customers

When it comes in increasing profits, it's tempting to concentrate on making new sales or pursuing bigger accounts. But attention to your existing customers, no matter how small they are, is essential to keeping your business thriving. The secret to repeat business is following up in a way that has a positive effect on the customer. Effective follow-up begins immediately after a sale, when you call the customer to say "Thank you" and find out if he or she is pleased with your product or service. Beyond this, there are several effective ways to follow up that ensure your business is always in the customer's mind. Let customers know what you are doing for them. This can be in the form of a newsletter mailed to existing customers, or it can be more informal, such as a phone call. Whichever method you use, the key is to dramatically point out to customers what excellent service you're giving them. If you never mention all the things you're doing for them, customers may not notice. You're not being cocky when you talk to customers about all the work you've done to please them. Just make a phone call and let them know they don't have to worry because you handled the paperwork, called the attorney or double-checked on the shipment--one less thing they have to do.

Don't count these as a legitimate follow-up. predictive capabilities.. use your creativity to come up with interesting gift ideas that tie into your business. Gifts are excellent follow-up tools. real-time customer insights including social media sentiment.. if you run into an old customer at an event. Consider follow-up calls business development calls. I'll call you early in the new year to schedule a lunch. Tap into complete. And take advantage of in-memory analytics. I can stop by with our latest models anytime. Ask your CRM questions at ITKnowledgeExchange. and so forth. leave a voice-mail message that you want to talk to the person directly or will stop by his or her office at a designated time. which can lead to new business. drop a note or make a quick call to let them know. match customer needs with product plans and offerings. If you read an article. remind customers of service requirements. differentiated experiences across all channels. know what other products a customer had purchased. an enterprise might build adatabase about its customers that described relationships in sufficient detail so that name it. Send regular customers birthday cards. If you're having trouble getting through. Get a 360° view of customers with our CRM software Engage customers with personalized. Improve your sales. handwritten notes frequently. For example. Are you still having a great time flying all over the country? Let me know if you need another set of luggage." Or. software. and marketing effectiveness. too. service. CRM consists of: . the customer's business or his or her recent purchase. using SAP 360 Customer powered by SAP HANA – our cutting-edge customer relationship management (CRM) software. Remember special occasions. mobile. and you'll think of plenty of other ideas that can help you develop a lasting relationship. but the personal touch is lost. "I was just sitting at my desk. there's simply no reason not to stay in regular contact with them. people providing service. follow up with a note: "It was great seeing you at the CDC Christmas party. and perhaps the customer directly could access information. With all that your existing customers can do for you. and usually Internet capabilities that help an enterprise manage customer relationships in an organized way. Use your imagination. CRM (customer relationship management) is an information industry term for methodologies." Keep it personal. salespeople. Pass on information. and more. see a new book or hear about an organization a customer might be interested in. You don't have to spend a fortune to show you According to one industry view. holiday cards. you'll often find they have referrals to give you.Write old customers personal. anniversary cards. Voice mail and e-mail make it easy to communicate. and your name popped into my head. When you talk to or visit old clients or customers.

identifying the most profitable customers and providing them the highest level of service.. CRM technology is offered on-premise. But that's like rolling a boulder up a hill. but who are excited and buzzing about what you do. You stay connected with them and give them value. And when it comes to tracking these people down. you have two choices: You can do all the legwork yourself and spend big marketing dollars. Powerful relationships don't just happen from one-time meetings at networking events--you don't need another pocketful of random business cards to clutter your desk. with the aim of improving customer satisfaction and maximizing profits. and they'll touch other people who can benefit your business. product or service. How do you do that? You develop relationships with people who don't just understand your particular expertise. Keep customers coming back for more--and bringing their friends with them--with these smart tips. What you need is a plan to make those connections grow and work for you. taking orders using mobile devices) Allowing the formation of individualized relationships with customers. 5 Key Ways to Build Customer Relationships Never underestimate the value and reach of a loyal. And it's not as hard as you think. Assisting the organization to improve telesales. and streamlining existing processes (for example. understand and identify customer needs and effectively build relationships between the company. You can create an army to help you push that boulder up the hill instead. depending on the vendor. Providing employees with the information and processes necessary to know their customers. You want to drive your business into new territory. and sales management by optimizing information shared by multiple employees. mobile CRM and the open source CRM software model have also become more popular. Here are five essential tactics: .    Helping an enterprise to enable its marketing departments to identify and target their best customers. Money can't buy one of the most important things you need to promote your business: relationships. How do customer relationships drive your business? It's all about finding people who believe in your products or services. account.. its customer base. and distribution partners. Many organizations turn to CRM software to help them manage their customer relationships. Recently. There's another less painful--and potentially more profitable-way. but every step is hard and expensive. on-demand or through Software as a Service (SaaS) CRM. manage marketing campaigns and generate quality leads for the sales team. repeat customer.

For just pennies per customer. Networking is a long-term investment. 4. Communication is a contact sport. Build your network--it's your sales lifeline. and retain them. So spend the time to build your network and do the follow-up.. no one will likely remember you from a business card or a one-time meeting. and they'll reward you. church and in your community. Relationships have a short shelf life. Your network includes business colleagues. professional acquaintances. or news they can use are all effective. attention and business. partners. repeat customers spend 67 percent more than new customers. advice and short items that entice consumers and leave them wanting more. helpful insights and advice. like e-mail marketing. You rarely meet people at the exact moment when they need what you offer. It doesn't need to be too much. and give them something of value in exchange for their time. So take the time to turn your network of connections into educated customers. friends and people you meet at school. prospective and existing customers. Contacts are potential customers waiting for you to connect with their needs. suppliers. a coupon. Make the connection immediately. Send a "nice to meet you" e-mail or let these new contacts know you've added them to your newsletter list and then send them the latest copy. a 5 percent increase in retention yields profit increases of 25 to 100 percent. You have interesting things to say! An easy way to communicate is with a brief e-mail newsletter that shows prospects why they should buy from you. (Hint: And it does! Read on. When they're ready. as well as family. One of the biggest mistakes people make is that they come home from networking events and fail to follow up. your competitors will. Communicate like your business's life depends on it. and that contact you just made can really pay off. So your most profitable customers are repeat customers. Are you doing enough to encourage them to work with you again? Stay in touch. enthusiastic or persuasive you are. notice of a special event. E-mail marketing keeps relationships strong on a shoestring budget. so do it early and often. Do it right by adding value to the relationship. 3. Today there are cost effective tools. build their confidence in your expertise. Immediately reinforce who you are.) 2. contractors and association members. Just remember: If you don't keep in touch with your customers. And it's viral: Contacts and customers who find what you do interesting or valuable will forward your e-mail message or newsletter to other people. just like word of mouth marketing. Build your reputation as an expert by giving away some free insight. According to global management consulting firm Bain and Co. that make this easy. It's easier to keep a connection warm than to warm it up again once the trail goes cold. 5. You . you can distribute an e-mail newsletter that includes tips. what you do and the connection you've made. How do you turn networks of contacts into customers? Not by hoping they'll remember meeting you six months ago at that networking event. Loyal customers are your best salespeople. will they think of you? Only if you stay on their minds. No matter how charming.1. Reward loyal customers. And on average. E-mail marketing is a cost-effective and easy way to stay on customers' minds.

The only way they can say. route leads to the right salespeople in real time. Learn more For customer service Your customers have questions about your products. your customers get answers fast and are happy. Then your customers become your sales force. To deliver stellar customer service. relationships. you need to connect all the conversations that happen on social networks with the internal knowledge your agents use every day. Learn more BUILDING CUSTOMER RELATIONSHIPS . "Wow.can e-mail a simple newsletter. not just to you). CRM cloud apps make it easy to manage customer information so reps spend less time handling data and more time with customers. or with Google AdWords. location. Then they'll remember you and what you do and deliver value back to you with referrals. location. relationships. and provide the analytics to see what’s working and what can be improved. in email. They'll hear about opportunities you'll never hear about. For sales reps. an offer or an update message of interest to your network (make sure it's of interest to them. CRM cloud apps provide real-time visibility into their team’s activities so they can forecast sales with confidence. You should give her a call. That way. then small business is all about relationships. And it costs you less. nothing is more important than tracking the sales that result from leads generated through marketing campaigns on your Web site. What is CRM? For sales and marketing For sales managers. If real estate is all about location." is if they remember you. they might go to Google or Twitter to look for answers and only contact your call center if they can’t find what they need. CRM cloud apps let marketers track leads and sources. I met somebody who's really good at XYZ. For marketers. Today.

strength of relationships. DSM offers consulting and design on both on-line and off-line customer engagement. Today there are many communication channels to engage your customers. Do you listen more than you talk? Do you know who your most important customers are? Your influencers? And why they come back to do business with you? These are important questions whose answers provide valuable insights to your business. While the customer is not always right. Building customers into advocates is perhaps your most important task. he always has the right to choose. customer experience. display your brand’s values. Every customer touchpoint in each channel is an important marketing opportunity.Customers choose businesses based on their confidence. It all starts by listening to your customers. deliver on your promises and building customer relationships and trust. provide creative ideas as part of your collaboration team or play the role of collaboration facilitator with the goal of improving the methods your team uses to collect and analyze customer insights. build communities. and trust. We provide consulting on collaboration. Listening to Customers We are definitely in the age of the customer … ignore this at the peril of your business. Engage Customers . and customer service.

There is a fine line between a bad. You need to know your customers and understand your touchpoints well to build great customer experiences. and listening and observing to gain insights and then acting on them. Customers remember and value personal experiences that demonstrate deep understanding and respect for their needs. good. . connect. call for a free consultation. Great customer experiences are the foundation for great customer service … both are required to build advocates and influencers. Do you need the ‘spark’ to set your business apart … if so. delivering on their promises. and great customer experience. Responsive Customer Service Businesses need to take their customer service to the next level … being more responsive and proactive.Why customer engage customers? The answer is pretty simple. Our goal is to make your customer experience and service discriminate your business from its competitors. and thanks = engage customers Do you focus on creating ‘WOW’ customer experiences to market to your customers? Digital Spark Marketing is skilled in understanding and improving customer touchpoints in ways that make positive impacts on customer experience and service. The ability – or inability – for a business to serve its customers in a responsive way that is consistent with meeting or beating their expectations will prove to be the ultimate differentiator separating the winners from the losers. listen. Smile.

The Growing Importance of Customer Relationship Management Sonia Frangeul 01.10. but above all. they build strong. When companies learn how to deliver and evolve differentiated customer service. Does your business strive to create world class customer service? DSM can help you build your roadmap. yes.Be social.12 . enduring customer relationships and trust. be responsive.

Leading on the Edge of Chaos. Emmett Murphy and Mark Murphy showed that “acquiring new customers can cost five times more than satisfying and retaining current customers.  . a dissatisfied customer will talk to ten. Loyalty—the art of creating a . That’s almost 10 percent each year! Why? Two-thirds of respondents attributed it to poor customer care. Small Business Administration and the U.  .S. noting that a satisfied customer will talk to three people. Tips for optimizing CRM The perceived quality of a product or service also weighs heavily in customer satisfaction.  .Every business wants to know the secret behind finding—and keeping—new customers. “reducing your customer defection rate by 5 percent can increase your profitability by 25 to 125 percent.” (source). Chamber of Commerce find that “68 percent [of customers] leave because they are upset with the treatment they’ve received” (source). companies need to ensure their services are top notch and that their business strategy caters to the customer. At a time when consumers are getting most of their information from personal recommendations and online reviews.Technical Assistance Research Programs (TARP) take keen interest in the management of customer complaints.The U.A 2009 study by the Harvard Business Review showed that US companies lose 50 percent of their customers every five years. Key figures The following statistics show the importance of customer relationship management (CRM).” What’s more.  . but the competition can make it hard to stand out. It’s the difference between what is expected and what is delivered.S.In their book. That’s why customer satisfaction is key. Companies who dote on and listen to their customers get the best reward ever—their loyalty. The one whose problem got fixed will be 50 percent more loyal than a satisfied customer who never had a problem in the first place. but a dissatisfied customer whose problem was fixed will talk to five.

or company in less than a minute. needs. Sort your customers according to potential. at the right time. to the right person. Now customers can have a say in and contribute to the content used by companies through what is known as crowdsourcing. A Gantt chart or the Eisenhower Matrix will help you put important and urgent matters first. Then come up with marketing strategies to meet these criteria so that you send the right message. Maintain and analyze a database. 2. service. a positive brand image and. Draft an elevator pitch. a personalized relationship built on trust. and demographics. This can be very useful when you meet potential customers. 3. using the rights means. product. Be able to describe your idea.lasting relationship with customers—is earned through satisfaction. Social media has changed customer relationships by increasing visibility and creating closer ties with customers. Organize your work day. Read all about it in “Crowdsourcing—the Latest Trend” Here are 10 tips to help you optimize your CRM and sell more (inspired by Fréderic Canevet)! Tips for getting customers: 1. . above all.

share. Once this personal and emotional linkage is built.4. they’re the front lines of your company). Create a knowledge base that everyone can access. 9. Importance of Customer Relationship Management (CRM) Customer Relationship management is the strongest and the most efficient approach in maintaining and creating relationships with customers. Take advantage of your employees’ expertise. and follow up on inactive customers. prioritize. Set up a three-step loyalty chain. it is very easy for any organization to identify the actual needs of customer and help them to serve them in a better way. and improve quality and overall performance—all in the name of customer satisfaction. CRM has never been more crucial than now. listening to your customers’ needs and expectations. Adopt a global vision for both the short and long term. 5. Create interesting and relevant content and get your audience involved. Your customers will feel like they belong. write white papers. and encourage your employees to spread the word about your company (after all. Every day. Tips for keeping customers 7. Build customer loyalty by first forging sincere and lasting relationships. and contribute to. It’s a great way to collectively come up with solutions and maximize the talents of all your employees. Analyze the effectiveness of your efforts. and responding quickly. Take a step back. Customer relationship management is not only pure business but also ideate strong personal bonding within people. Forge lasting relations built on trust. and follow up on inactive ones. new CRM tools come on the market that promise to cut costs. Development of this type of bonding drives the business to new levels of success. Follow up on projects and customers.Use Google AdWords. offer free trials. It is a belief that more the sophisticated strategies involved in implementing the customer . 6. 10. your customers will become brand advocates—free advertising! 8. Find ways to expand your network. optimize databases. go after potential customers. By personalizing your communications. improve results.

This increases the chance of getting more business which ultimately enhances turnover and profit. 7. The Sa les and Field representatives then try getting business out of these customers by sophistically following up with them and converting them into a winning deal. In today’s commercial world. This helps in focusing and concentrating on each and every customer separately. All this is very easily and efficiently done by an integrated CRM system. Different roles can be identified in the context of consumers. Most of the organizations have dedicated world class tools for maintaining CRM systems into their workplace. Salesforce. buyer. initiator. practice of dealing with existing customers and thriving bus iness by getting more customers into loop is predominant and is mere a dilemma.relationship management. The task of creating strong customer loyalty is called relationship marketing. A CRM system consists of a historical view and analysis of all the acquired or to be acquired customers. 5. namely. The Importance of Customer Relationship Who is a Customer A customer is the actual or potential buyer of a product. disposer. 6. The fact is that the cost of attracting a new customer is far more than keeping a current customer happy. CRM contains each and every bit of details of a customer. Some of the efficient tools used in most of the renowned organization are BatchBook. It is basically a . 8. Looking at some broader perspectives given as below we can easily determine why a CRM System is always important for an organization. Installing a CRM system can definitely improve the situation and help in challenging the new ways of marketing and business in an efficient manner. customers are grouped according to different aspects according to the type of business they do or according to physical location and are allocated to different customer managers often called as account managers. The strongest aspect of Customer Relationship Management is that it is very cost-effective. user. the more strong and fruitful is the business. hence it is very easy for track a customer accordingly and can be used to determine which customer can be profitable and which not. The advantage of decently implemented CRM system is that there is very less need of paper and manual work which requires lesser staff to manage and lesser resources to deal with. influencer. 2. The technologies used in implementing a CRM system are also very cheap and smooth as compared to the traditional way of business. If the customer is satisfied they will always be loyal to you and will remain in business forever resulting in increasing customer base and ultimately enhancing net growth of business. A CRM system is not only used to deal with the existing customers but is also useful in acquiring new customers. Hence in the era of business every organization should be recommended to have a full-fledged CRM system to cope up with all the business needs. 1. The process first starts with identifying a customer and maintaining all the corresponding details into the CRM system which is also called an ‘Opportunity of Business’. 3. All the details in CRM system is kept centralized which is available anytime on fingertips. This reduces the process time and increases productivity. In CRM system. Sugar CRM etc. decider. The Need For Customer Relationship Marketing Today’s companies are going head over heels to retain customers. Efficiently dealing with all the customers and providing them what they actually need increases the customer satisfaction. 4. Buzzstream. This helps in reduced searching and correlating customers and to foresee customer needs effectively and increase business.

marketing. the shoppers at Super markets will wait to watch personalized advertisements for chocolates. Marketers are finding new ways to communicate with their customers and capitalizing on long-term relationship. This is made possible as marketers are maintaining database on consumers to customize and target their messages more precisely. Customer relationship management (CRM) is a model for managing a company’s interactions with current and future customers. and technical support. customer service. consumers signal their needs and preferences and ensure that the products are tailored to those desires. automate. toothpaste and tea at checkout counters equipped with video screens. It involves using technology to organize. Building Blocks Between Marketers and Consumers “Customer Relationship Management (CRM)” is changing the way everything. and [1] synchronize sales. is being sold. . from cars to detergents. Soon.philosophy of doing business in a highly competitive market with strategic orientation focusing on improving relationship with existing key customers to develop lifetime customers. On the other hand.