CRM is also considered as a business strategy for successfully selecting and also managing clients with the aim to optimize value. Every CRM needs a client centric business philosophy in place with the aim to support efficient marketing, sales and also services processes.
It is possible to categorize different types of CRM activities.
- Operational CRM
It is closely associated with the typical business functions comprising of client services, order management, billing processes, marketing automation and also management.
- Analytical CRM
It comprises of different activities that can involve in multiple processes such as capture, store, extract, interpretation of client data.
- Collaborative CRM
It comprises of all the necessary communication, coordination and also partnership between vendors and also clients.
How to evaluate a CRM
It won’t be incorrect to say that CRM comprises of some concepts of relationship marketing although it is much broader in its approach. It also comprises of one-to-one relationship of client and seller. The ability to emerge as an effective marketer, a firm must be ready to make appropriate alterations towards a particular client, based on the information available about a client. Hence, CRM works on an idea that offering special treatment to your clients is essential as two no client is same.
A CRM is wide in its approach as it comprises of more than just sales and marketing as a company should be able to carry out the changes along with the configuration of products or delivery of services on the basis of the client requirement. With the aim to develop strong one-to-one ties with the clients, it is must that a firm consistently carries out interaction with clients. One of the main reasons why mostly organizations are opting for CRM is that it can create high client loyalty with its marketing initiatives, which eventually helps strengthening the profitability of a company.
Understanding the functionality of electronic CRM
For many years now, CRM is practiced by firms. But in the past twenty years or so, it has undergone various changes as it is considered as the evolutionary response to the various environmental changes along with the making proper usage of new IT devices and tools.
CRM as a term came into existence when the clients started using web browsers, Internet in their day to day activities. This technology helped in increasing the effectiveness and efficiency of the client service and also services offered to partners.
Via the Internet technologies, the details generated about the clients can be fed into the different marketing, sales and also customer service applications to carry out effective analysis. The electronic CRM also comprises of online process applications like categorization and personalization. The success and also the failure can be judged in real time, which helps in further enhancing the client expectations significantly.
When the world is connected by the Internet, electronic CRM has emerged as one of the necessity for survival, not just for attaining competitive advantage. It also comprises of different topics, tools and also methods.
There are three levels of electronic CRM –
- Foundational services comprise of the important services like the website responsiveness, effectiveness of the website and also order fulfillment.
- Client centered services comprises of tracking of order, configuration and also customization along with security/trust as these are most demanded by the clients.
- Value added services are considered as the extra services like online training, auctions, etc.
It is always a better idea to go for a CRM vendor that understands your business and its requirements. Selecting such a CRM software that can match with the recent technology and is ready to evolve in accordance with the human requirements is the need of the hour for enterprises across the globe.