The organizations also focus has shifted from conducting business transactions to managing customer relationship. Organizations recognize that customers are the core of a successful enterprise and the success of the enterprise depends on effectively managing relationships with them. CRM builds sustainable long term customer relationships that create value for the company as well as for the customer.
CRM helps companies acquire new customers retain existing profitable customers and grow relationship with existing customers. CRM function is particularly important because repeat customers are the largest generator of revenue for an enterprise. Organizations have long understood hat getting back a customer who switched to a competitor is vastly more expensive than keeping that customer satisfied in the first place.
Contrast the components of Operational CRM (10 marks) Two major components of operational CRM systems are customer facing applications is an operational system where it needs to be face to face with customers directly and customer touching applications is an applications and technologies with which customers interact and typically help themselves. These application customer facing applications is customer service and support refer to systems that automate service requests, complaints, product returns and request for information.
Today organization restorative uses multiple channels such as web, telephone, fax and face to face interactions to communicate with customers. Sales force automation is the component of an operational CRM system that automatically records all of the components in a sales transaction process. Marketing focused primarily on how sales and customers service personnel can benefit from CRM systems however CRM yester have many important applications for an organization’s marketing department as well.
Campaign management help organizations plan campaigns that send the right messaged to the right people through the right channels. Such applications called customer touching CRM applications such as search and comparison capabilities which It Is often for customers to find what they want from the vast array of products and services available on the web. To assist customers many online store and smalls offer search and comparison capableness as do Independent comparison websites. For example compare between product A and B.
Define for an edge between products. Technical and other Information and services buy any product, technical will teach how use that product. Customized products and have a own weapon for example Air Asia Airline. FAQ frequently asked questions are a simple tool for answering repetitive customer queries. Email and automated response the most popular tool for customer service is email. Loyalty programs recognize customers who repeatedly use a vendor product or service for example cellos when birthday get a call free for 7 days.
