Lakhasly

CRM works by gathering information about customers and analyzing the information collected.o Ensuring that the CRM provides a scalable architecture framework.With an effective CRM strategy, a business can increase revenues by: o providing services and products that are exactly what the customers want o providing better customer service o selling products more effectively o retaining existing customers and gaining new customers o providing guidelines to explore new marketing strategy o expanding the business and reaching all the customers through the web.Coupling CRM with other technologies like (Enterprise Resource Planning) ERP, Supply Chain Management (SCM), Management Information System (MIS) and Decision Support System (DSS) will yield better results to the organization.Customer relationships are vital business assets and the benefits of CRM to customers are increased convenience and speed of service and they help the organization to increase their ability to develop profitable customer-focused strategies.There are many goals that businesses have when implementing CRM techniques and applications.o Developing prototypes and making use of business models to understand the business processes effectively.o Storing unwanted and useless data wastes time and money which CRM eliminates.When a consumer scans the cards and then their items, the items that the customers have bought are entered into a database.

CRM works by gathering information about customers and analyzing the information collected. An example of this would be supermarket discount cards. When a consumer scans the cards and then their items, the items that the customers have bought are entered into a database. This gives an accurate idea of which customers buy what. This enables the organization to analyze these data later. Based on this analysis, the organization can change their marketing strategy; thereby the Customer Relationship Management (CRM) brings the company closer to the customer. There are many goals that businesses have when implementing CRM techniques and applications. The organization wants to improve customer service which will subsequently improve customer satisfaction. The business also wants to maximize revenue by advertising the right products to the right people. In other words, the organization is interested to find what the exact requirements of the customers are. Once this is done then the organization not only can retain the existing customers but also can gain new customers. CRM processes are designed to monitor all of the contacts between customers and companies. Maintaining a positive relationship with the customers is an essential element in any business. Customer relationships are vital business assets and the benefits of CRM to customers are increased convenience and speed of service and they help the organization to increase their ability to develop profitable customer-focused strategies. The first and foremost step for establishing CRM lies in establishing the required changes and planning for their implementation.
CRM is a strategy used to learn more about customers' needs and behavior in order to develop better relationships with them. Customer relationships are at the core of business success. Coupling CRM with other technologies like (Enterprise Resource Planning) ERP, Supply Chain Management (SCM), Management Information System (MIS) and Decision Support System (DSS) will yield better results to the organization. The concept of CRM is that it helps businesses use technology and human resources to gain insight into the behavior of customers and the value of those customers. With an effective CRM strategy, a business can increase revenues by:
• providing services and products that are exactly what the customers want
• providing better customer service
• selling products more effectively
• retaining existing customers and gaining new customers
• providing guidelines to explore new marketing strategy
• expanding the business and reaching all the customers through the web.
The following factors account for successful CRM implementation:
• Developing a customer-focused strategy first before considering the kind of technology we need.
• Developing prototypes and making use of business models to understand the business processes effectively.
• Ensuring that the CRM provides a scalable architecture framework.
• Ensuring that necessary data is available to make analysis and change the business strategy accordingly to meet the expectations of the customers.
• Storing unwanted and useless data wastes time and money which CRM eliminates.
• Addressing the CRM system from three perspectives--Business, Technology and Customer.