Why is Customer Relationship Management (CRM) important?
- Selling to a new customer is far more costly than selling to an existing customer.
- A dissatisfied customer will tell several people about his experience resulting in
a poor image for the company.
- It is much easier to sell a product to an existing customer than to a new customer.
- If a complaint is quickly addressed the chances of the complaining customer
doing business again with the company is quite high.
The Main Objectives of a Customer Relationship Management (CRM) application
- Use the relationships with existing customers to increase revenue.
- Provide excellent customer service using the information from your integrated applications
- Increase the number of customer contact channels and improve their efficiency.
Some examples of customer contact channels are: web, telephone, email, fax.
Customer Relationship Management (CRM) and the Customer Life Cycle
- The first step involves acquiring new customers. Here it is important how the company
differentiates itself from others. How convenient is the customer acquiring process
for the customer.
- The next step involves increasing value for the customer. Here it is important to reduce
the cost for the customer by bundling the product with other products. Cross-selling and
up-selling should be encouraged. Provide excellent customer service.
- The final step involves retaining existing customers. Here it is important to listen
to your customers. Give them what they want even if this means introducing new products.
Be proactive and anticipate their requirements.
The Importance of the Call Center
The Call Center is one of the most important customer contact points today.
The call center supports a multi-purpose function providing customers with support, inquiry,
and transaction functions. The call center is made up of a group of agents and voice response units.
The call center is expected to evolve into a complete sales and service channel.
Importance of the Internet (Web)
The web is evolving into a self service, sales and service channel. It is expected that the web
will be the fastest growing segments of Customer Relationship Management (CRM) by leveraging
the growth of the internet.
Renting Customer Relationship Management (CRM) Applications
We have seen the crucial importance that Customer Relationship Management (CRM) applications
have in a world dominated by e-businesses. However, most companies have limited IT resources
and do not have the capacity to deploy and maintain Customer Relationship Management (CRM) applications.
A new alternative for such companies are CRM portals. These are CRM applications that can
be rented and used from the web.
If you want more information about CRM use the CRM Search Box below:
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