Customer Relationship Management : Nature and Scope

NATURE AND SCOPE

The Customer is King! This credo is more powerful, relevant and true today than ever before. In a truly customer driven economy, success depends on a company’s ability to be with the customer on a round the clock basis… satisfying all their product and service specific needs. Simply stated, Customer Relationship Management (CRM) is about finding, getting, and retaining customers.

Customer Relationship Management is one of the hottest and most talked about topics in the industry today and for good reason. CRM (customer relationship management) is an information industry term for methodologies, software, and usually Internet capabilities that help an enterprise manage customer relationships in an organized way. Simply stated, Customer Relationship Management(CRM) is about finding, getting, and retaining customers. CRM is at the core of any customer- focused business strategy and includes the people, processes, and technology questions associated with marketing, sales, and service. In today’s hyper-competitive world, organizations looking to implement successful CRM strategies need to focus on a common view of the customer using integrated information systems and contact center implementations that allow the customer to communicate via any desired communication channel.

CRM is all about building long term business relationships with your customers. It is best described as the blending of internal business processes: Sales, Marketing and Customer support with technology. CRM is to meet and exceed customer expectations, create a positive customer experience and build customer loyalty. Solutions empower businesses to more efficiently and effectively manage the activities that affect their relationship with their customers. The ultimate goal of

CRM changes all of this and represents a continuing evolution in managing front office operations. With CRM, traditional departmental applications for sales, marketing and customer service are consolidated into a single unified system capable of managing the entire customer life cycle. This approach allows employees throughout an organization to have immediate access to a complete profile of important customer information. Organizations who are implementing CRM solutions feel confident that providing access to this level of information will assist their sales and support staff in better understanding the needs and buying patterns of their customers.

What exactly is the definition of Customer Relationship Management?

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