Identify, Acquire, and Retain Customers with CRM

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Customer Relationship Management (CRM) is a way to identify, acquire, and retain customers, a business greatest asset.

Research has shown that companies that create satisfied, loyal customers have more repeat business, lower customer-acquisition costs, and stronger brand value-all of which translates into better financial performance.

Even though research shows that CRM initiatives have shown little success, a recent poll shows that 35 percent of executives surveyed said their organizations will launch CRM initiatives this year.

The present scenario of companies using “poorly implemented” multi channel strategies for living up to the expectations of customers is bringing both customer satisfaction and customer loyalty down the ladder.

In short, CRM is the computer system interacting directly with the clients through voice by phone (and voice recognition if necessary) without human actions, for marketing, sales, support, accounts and any other application. In other words, the external world of a company.

Putting all CRM facets into one coherent, organized presentation to the customer could require the services of a systems integrator. It would most certainly require training everyone from webmasters to call center workers to field sales technicians.

These days, a company’s telephony system is already integrated into the responsibility of its IT Information Technology Dept, not only because it’s often digital, but mainly because it’s more and more integrated into the data network. And in the not too very distant future, the data process and telephony process will have converged into one.

S. Maurer is a 53-year old college graduated IT professional, with 30 years of experience in the computer & technology business. Now is the Correspondence Courses Director of http://mba-open-university.net and http://distance-learning-mba-online-mba-program-executive-jobs.net.

Identify, Acquire, and Retain Customers with CRM
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