Customer Relation Management Essay

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Chapter 1. INTRODUCTION Customer relationship management (CRM) is a widely-implemented strategy for managing a company’s interactions with customers, clients and sales prospects. It involves using technology to organize, automate, and synchronize business processes—principally sales activities, but also those for marketing, customer service, and technical support. The overall goals are to find, attract, and win new clients, nurture and retain those the company already has, entice former clients back into the fold, and reduce the costs of marketing and client service. Customer relationship management describes a company-wide business strategy including customer-interface departments as well as other departments. CRM Definition CRM software stands for Customer Relationship Management software. CRM provides an integrated approach to identifying, acquiring, retaining and managing customers. For most organizations, CRM is usually implemented through a software package - such as a database linked to a web interface - designed to support these processes. CRM is about organizing and streamlining of processes and information. CRM software enables companies to quickly and easily get and provide access to all aspects of business management and customer interactions, and also allows customers to quickly and easily find and use information on their own. By streamlining aspects of vendor-client interactions, CRM software helps organizations manage and coordinate their businesses efficiently, as well as provide excellent customer service. No longer just for tech companies, industries such as the pharmaceutical, automotive, construction, and airline industries have been implementing CRM to manage all aspects of business and customer managment. Hospitals, banks, and educational institutions are are also using CRM to manage

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