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What is CRM?

Customer Relationship Management (CRM) is the identification, acquisition and servicing of prospects and customers through a predefined process.

The CRM system relies not only on computer processes but people input as well.  The results of CRM are increased sales and reduced costs. A recent Harvard Business Review article cited increases in sales of typically 35% and cost reductions of 25%  - adding a hefty profit to the bottom line. Customer Loyalty becomes entrenched  resulting in a reduced cost of sales.

What is CRM?
CRM involves using technology to organize, automate, and synchronize business processes—principally sales related activities, but also those for marketing, customer service, and technical support.

CRM Goals
The overall goals are to find, attract, and win new customers, nurture and retain those the company already has, entice former customers back into the fold, and reduce the costs of marketing and customer service.

CRM Growth
According to Forrester Research, spending on customer relationship management is expected to top $11 billion annually by 2010, as enterprises seek to grow top-line revenues, improve the customer experience, and boost the productivity of customer-facing staff.

CRM Overview
Once simply a label for a category of software tools, CRM has matured and broadened as a concept over the years. Today, customer relationship management generally denotes a company-wide business strategy embracing all customer-facing departments and even beyond. When an implementation is effective, people, processes, and technology work in synergy to develop and strengthen relationships, increase profitability, and reduce operational costs.

Benefits of CRM Tools
Customer relationship management tools have been shown to help companies attain these objectives.

  • Streamlined sales and marketing processes
  • Higher sales productivity  - turnover increases of 30% and better
  • Added cross-selling and up-selling opportunities
  • Improved customer service, loyalty, and retention
  • Increased call center efficiency
  • Higher close rates
  • Better customer profiling and targeting
  • Reduced expenses
  • Increased market share
  • Higher overall profitability

Implementation of CRM Tools Using Advantage CRM Software
If you ware interested in purchasing Advantage CRM Software to asssit your customer relationship management simply contact us for further assistance.