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CRM : What it is?

 CRM : What it is? Customer Relationship Management


      CRM Stands for Customer Relationship Management. It is an approach to build a good relationship between customers and the business: goods, services, or the company. When consumers have good feelings with us, they tend to stay longer and be loyalty customers. This will help to build a strong customer base and lead to stability of the company. So, in order to understand the status of relationship with customers, we need to observe customers’ behaviour to analysis relationship between customers’ behaviour and our marketing strategy.

4 Steps of CRM Workflow

  1. Identify: To have a capability of knowing which customer is which. To Keep customers’ data such as names, contact information, etc. may be needed
  2. Differentiate:  To analysis each customer and categorize each by ones’ value to the business
  3. Interact: To have interactions with customers in order to understand customers’ desire and to satisfy them
  4. Customize: to present goods or services that suits individual consumers

      CRM System has deep relationship with Information Technology (IT) in using Software to use in developing a method to attract customers and building relationship with them such as WebSite. CRM software supports in organizing customers’ database, analysing data, and acting as a contact channel with customers

CRM software can categorized into 3 groups

  • Operational CRM. It is a front office software to collect customers information from various department such as sales, marketing, or service. The example of information such as interaction record, quotation, sales management, to name but a few.
  • Analytical CRM. It is the system to analysis customers’ data gathered from Operational CRM or other sources for grouping customers and searching new ones to present additional goods or services
  • Collaborative CRM. Is the system to support interaction with customers from very channels such as Instant Message (IM), mail, fax, telephone, website, E-Mail. This also includes managing company assets: employees, procedure, and customers Database, to improve the quality of customer service and maintain customers’ loyalty.

Benefits of CRM to business 

  1. To Increases capacity of customer service : We can use CRM system to enhance an ability of customer service in different ways such as to create a website that provides information about products, and supports customers 24/7. Or to create a channel for customers to leave comment and customize their desires right away.
  2. To Improve interaction efficiency with customers : It helps the company to know interests, desire, and consumers’ buying behaviour, so the company can use this information to present suitable products to the target groups. Besides, it supports the company to give right after service to each consumer. This will build long and trustworthy relationship that can enhance customers’ loyalty to the organization, decrease losing customers, reduce marketing cost, increase profit from loyalty customers. As a result, it means profit increasing.