More info on Wikipedia
Quick Facts
- CRM is usually used to designate a software-based approach for handling customer relationships
- CRM software vendors stress the need for a holistic approach
- Analysis of CRM data useful for marketing campaigns
- If there is only software installation, CRM initiatives may fail
- Employees must take full advantage of the information system
Expert summary
CRM or customer relationship management designates the processes a company implements to handle its contact with its customers. CRM software helps this process by facilitating the storage of information on the present as well as prospective customers. Details about customer contacts can also be stored in it. That enables the company to improve its services to the customers and, indirectly, to improve acceptability and sales. The software installation alone is not enough. Necessary motivation is to be provided to the employees to learn, provide input, and take benefit from the information system. CRM virtually unifies a company’s customer interaction and provides a very effective mechanism for tracking and storing customer information.
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