Customer Relationship

Management (CRM)
GROUP 14
PAGSUBERON, SILVESTRE,
VILLANUEVA
 TABLE OF CONTENTS
 Defining Customer Relationship Management
 How does CRM work?
 Benefits of CRM
 Components of CRM
 Types of CRM Solution
 CRM Challenges
 Defining

1 Customer
Relationship
Management
What is Customer Relationship Management (CRM)?

Customer relationship management (CRM) is the

combination of practices, strategies and technologies that
companies use to manage and analyze customer interactions
and data throughout the customer lifecycle. 
Customer relationship management (CRM) is not just the application of technology
but is a strategy to learn more about customers' needs and behaviours in order to
develop stronger relationships with them. As such it is more of a business
philosophy than a technical solution to assist in dealing with customers effectively
and efficiently. Nevertheless, successful CRM relies on the use of technology.

The goal is to improve customer service relationships and assist in customer

retention and drive sales growth. CRM systems compile customer data across
different channels, or points of contact, between the customer and the company,
which could include the company's website, telephone, live chat, direct mail,
marketing materials and social networks. CRM systems can also give customer-
facing staff members detailed information on customers' personal information,
purchase history, buying preferences and concerns.
2 How does CRM
work?
CRM solutions include functionalities that allow users to track customer and company interactions
through various available channels. These channels include contact forms, emails, phone calls, and
more.

CRM software provides sales and marketing teams with a set of tools to manage the entire sales and
marketing funnel, from lead qualification to opportunity management, forecasting, and deal closure.
It enables customer service teams to manage customer requests and automate service operations by
following pre- defined processes for customer care excellence.

CRM systems are packed with tracking features that record numerous customer interactions online.
In addition, CRM automates routine processes and provides managers with tools that allow for the
tracking and measuring of the company’s performance and productivity. For example, CRM software
can remind you of tasks that you need to complete at a given time. You can make it perform pre-
scheduled activities like sending emails and initiating phone calls. Everything done with the CRM is
recorded, giving you enough time to make better action plans to close any potential sale. Some
CRMs also offer analytics capabilities, allowing users to track the efficiency of various marketing
efforts to generate leads and conversions. 
3 Benefits of CRM
The use of CRM systems can benefit organizations ranging
from small businesses to large corporations, through:

● Having customer information such as past purchases and

interaction history easily accessible can help customer
support representatives provide better and faster customer
service.
Benefits of
● Collection of and access to customer data can help CRM to
businesses identify trends and insights about their
customers through reporting and visualization features. Businesses
● Automation of menial, but necessary, sales funnel and
customer support tasks.
A major benefit can be the development of better relations with your existing customers, which can lead to:

 increased sales through better timing due to anticipating needs based on historic trends
 identifying needs more effectively by understanding specific customer requirements
 cross-selling of other products by highlighting and suggesting alternatives or enhancements
 identifying which of your customers are profitable and which are not

This can lead to better marketing of your products or services by focusing on:

 effective targeted marketing communications aimed specifically at customer needs

 a more personal approach and the development of new or improved products and services
in order to win more business in the future
Ultimately this could lead to:

 enhanced customer satisfaction and retention, ensuring that your good reputation in
the marketplace continues to grow
 increased value from your existing customers and reduced cost associated with
supporting and servicing them, increasing your overall efficiency and reducing total
cost of sales
 improved profitability by focusing on the most profitable customers and dealing with
the unprofitable in more cost-effective ways

Once your business starts to look after its existing customers effectively, efforts
can be concentrated on finding new customers and expanding your market. The more
you know about your customers, the easier it is to identify new prospects and increase
your customer base.
4 Components of
CRM
 Components of Customer Relationship Management
At the most basic level, CRM software consolidates customer information and documents it into a
single CRM database so business users can more easily access and manage it.

Over time, many additional functions have been added to CRM systems  to make them more
useful. Some of these functions include recording various customer interactions over email, phone, social
media or other channels; depending on system capabilities, automating various workflow automation
process, such as tasks, calendars and alerts; and giving managers the ability to track performance and
productivity based on information logged within the system.

 Marketing automation. CRM tools with marketing automation  capabilities can automate repetitive

tasks to enhance marketing efforts at different points in the lifecycle for lead generation. For example, as
sales prospects come into the system, it might automatically send email marketing content, with the goal
of turning a sales lead into a full-fledged customer.
 Sales force automation. Sales force automation tools track customer interactions and automate certain
business functions of the sales cycle that are necessary to follow leads, obtain new customers and build
customer loyalty
 Contact center automation. Designed to reduce tedious aspects of a contact center
agent's job, contact center automation might include prerecorded audio that assists in
customer problem-solving and information dissemination. Various software tools that
integrate with the agent's desktop tools can handle customer requests in order to cut down
on the length of calls and to simplify customer service processes. Automated contact
center tools, such as chatbots, can improve customer user experiences.
 Geolocation technology, or location-based services. Some CRM systems include
technology that can create geographic marketing campaigns based on customers' physical
locations, sometimes integrating with popular location-based GPS (global positioning
system) apps. Geolocation technology can also be used as a networking or contact
management tool in order to find sales prospects based on a location.
 Workflow automation. CRM systems help businesses optimize processes by
streamlining mundane workloads, enabling employees to focus on creative and more
high-level tasks
 Lead management. Sales leads can be tracked through CRM, enabling sales teams to
input, track and analyze data for leads in one place
 Human resource management (HRM). CRM systems help track employee
information, such as contact information, performance reviews and benefits within a
company. This enables the HR department to more effectively manage the internal
workforce.
 Analytics. Analytics in CRM help create better customer satisfaction rates by
analyzing user data and helping create targeted marketing campaigns.
 Artificial intelligence. Al technologies, such as Salesforce Einstein, have been built
into CRM platforms to automate repetitive tasks, identify customer-buying patterns to
predict future customer behaviors and more.
 Project management. Some CRM systems include features to help users keep track
of client project details such as objectives, strategic alignment, processes, risk
management and progress.
 Integration with other software. Many CRM systems can integrate with other
software, such as call center and enterprise resource planning (ERP) systems.
5 Types of CRM
Solution
 Types of CRM Solution
Customer relationship management (CRM) is important in running a successful business. The better the
relationship, the easier it is to conduct business and generate revenue. Therefore, using technology to
improve CRM makes good business sense.

CRM solutions fall into the following four broad categories

Outsourced solutions
Application service providers can provide web-based CRM solutions for your business. This
approach is ideal if you need to implement a solution quickly and your company does not have the in-
house skills necessary to tackle the job from scratch. It is also a good solution if you are already geared
towards online e-commerce.

Off-the-shelf solutions
Several software companies offer CRM applications that integrate with existing packages. Cut-
down versions of such software may be suitable for smaller businesses. This approach is generally the
cheapest option as you are investing in standard software components. The downside is that the software
may not always do precisely what you want, and you may have to trade off functionality for convenience
and price. The key to success is to be flexible without compromising too much.
Custom software
For the ultimate in tailored CRM solutions, consultants and software engineers will
customize or create a CRM system and integrate it with your existing software.

However, this can be expensive and time consuming. If you choose this option, make
sure you carefully specify exactly what you want. This will usually be the most expensive
option and costs will vary depending on what your software designer quotes.

Managed solutions
A half-way house between custom and outsourced solutions, this involves renting a
customized suite of CRM applications as a tailored package. This can be cost effective, but it
may mean that you have to compromise in terms of functionality.
5 CRM Challenges
 Customer Relationship Management Challenges
For all of the advancements in CRM technology, without the proper management, a
CRM system can become little more than a glorified database in which customer
information is stored. Data sets need to be connected, distributed and organized so that
users can easily access the information they need.

Companies may struggle to achieve a single view of the customer if their data sets are
not connected and organized in a single dashboard or interface. Challenges also arise when
systems contain duplicate customer data or outdated information. These problems can lead
to a decline in customer experience due to long wait times during phone calls, improper
handling of technical support cases and other issues.

CRM systems work best when companies spend time cleaning up their existing
customer data to eliminate duplicate and incomplete records before they supplement CRM
data with external sources of information.
 REFERENCES
o https://www.techtarget.com/searchcustomerexperience/definition/CRM-customer-relation

ship-management

o https://m.infoentrepreneurs.org/en/guides/customer-relationship-management/

o https://www.creatio.com/page/what-is-crm

o https://www.youtube.com/watch?v=biG226K8isA

o https://www.youtube.com/watch?v=fbNPq-ZLzMM&t=136s
THANK GROUP 14

PAGSUBERON,

YOU!
SILVESTRE,
VILLANUEVA