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Power point - PowerPoint Presentation Example

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It is commonly used to control communications with clients and to manage sales projections. CRM helps to systematize, automate and harmonize sales…
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Relationship Management relationship management (CRM) is a critical tool for managing interactions between an organization and its customers. It is commonly used to control communications with clients and to manage sales projections. CRM helps to systematize, automate and harmonize sales activities of an organization as well as marketing and customer service processes. CRM’s general objective is to help the organization to lure and win new customers while at the same time ensure high retention level of the existing customers of the company.
Havaldar presents a strategic relationship between the organization and its customers, and emphasizes on their reciprocal dependence. According to Havaldar (76), CRM is usually important to every business enterprise in the contemporary world because of many reasons. First, it results into low operation cost if properly implemented. Customer relationship management also ensures increased profitability for the firm. CRM has high potential to increase the efficiency communication within the firm and promote team work within sales department as well as the entire organization. Implementation of CRM ensures that the company is capable of adapting to the emerging customer needs as the clients of the organization undergo customer life cycle. It equips the company with essential tools to counter changes in buying pattern and consumption behavior of customers.
Sales force automation (SFA) is a CRM approach that streamlines all the stages of sales process, which ensures that sales representatives spend the lowest time possible in each sales phase. The software permits the organization to utilize the lowest possible number of sales representatives to manage clients and customers as well as attracting new lot of customers to the existing customer base of the organization. Contact management system incorporated in the software allows the system to follow and document all the phases of sales process for every customer of the company from the first interaction to present engagement. SFA also enables the company to discover opportunities, make sales prediction, and determine suitable market niches as well as establish workflow mechanization.
CRM technology enables the company to develop, delegate and manage the needs of customers. Creating call centre software ensures that customers get the best support service from customer care agents of the company at the right time and hence increases customer satisfaction, which is a key pillar for creating customer loyalty. In order to retain old customers and lure new ones to the company, an efficient customer service is an inevitable process that the company should focus on. It boosts customer experience and the efficiency of sales department and also keeps the cost of managing customers low. CRM can assist in identifying and creating reward system for loyal customers, which is pivotal to customer retention and attraction of new clients (Goldenberg 60). The book, CRM automation, by Barton J Goldenberg was particularly preferred because of its clarity concerning CRM and useful information for sales, marketing as well as customer care of an organization. The material provides critical insight on the benefits and critical factors for CRM implementation.
Works Cited
Goldenberg, Barton J. CRM automation. Upper Saddle River, NJ: Prentice Hall PTR, 2003.
Havaldar, Krishna K. Business marketing: Text and cases. New Delhi: Tata McGraw Hill Education Private Ltd., 2010. Read More
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