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• W2338000895 abstract "CRM, or Customer Relationship Management, is a company-wide business strategy designed to reduce costs and increase profitability by solidifying customer satisfaction, loyalty, and advocacy. True CRM brings together information from all data sources within an organization (and where appropriate, from outside the organization) to give one, holistic view of each customer in real time. This allows customer facing employees in such areas as sales, customer support, and marketing to make quick yet informed decisions on everything from cross-selling and up selling opportunities to target marketing strategies to competitive positioning tactics. Keywords-CRM, Marketing, Service, Sales, Knowledge Management I. INTRODUCTION Customer relationship management (CRM) is all about managing the relationships between the business organization and its customers, clients and sales prospects. It involves using technology to organize, automate, and synchronize business processes. It's an overall strategy to help the organization learn more about its customers and their behavior so you can develop stronger, long lasting relationships that will benefit both the organization and its customers. Otherwise it's really next to impossible to run a smooth business without giving a strong focus on CRM after all customers are the main key. CRM software is an essential piece of equipment for any company or organization that wants to achieve the maximum return on their marketing, fully capitalize on their sales leads and prospects, and cultivate ongoing, lifetime relationships with their current and established customers. By integrating all data about sales leads, current customers, associated companies, and employees throughout the various departments, CRM software enables enterprises to seamlessly handle marketing, sales, and customer service as a single package. Simply put, it's a way for salespeople to make a plan and then work that plan! Two fundamental elements of continued growth that many firms overlook are the lifetime value of existing customers, and the importance of retaining them. For most businesses and other organizations, the costs associated with the acquiring of a new customer or client is very high. In fact, for many companies, getting new customers is the single largest expense they incur. Convincing a skeptical public that your firm can meet their needs, and does it better than competing firms, is a tall order. Doing so requires spending large sums on advertising, branding, marketing, and a sales force. Most salespeople quit after the first contact, not because they don't want to follow-up, it's just that they can't remember! So, knowing that it, over average, takes 8-12 contacts to close the sale, how much a company is wasting by having their salespeople do one call on a prospect when they know it will take more. In contrast, your existing customers have already demonstrated a willingness to spend money on your product or service, and they are far more likely to do so in the future than someone who's never done business with you in the past." @default.
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• W2338000895 date "2011-01-01" @default.
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• W2338000895 title "Preeminent Analysis Of Customer Relationship Management (CRM)" @default.
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