Ciocomar ticlepr int40295 14 1282014 crm definition

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Unformatted text preview: io.com/ar ticle/pr int/40295 1/4 1/28/2014 CRM Definition and Solutions Th at so u n d s r o sy. Ho w d o e s it h ap p e n ? It does n't happen by s imply buy ing s oftware and ins talling it. For CRM to be truly effec tive, an organiz ation mus t firs t unders tand who its c us tomers are and what their value is over a lifetime. The c ompany mus t then determine what the needs of its c us tomers are and how bes t to meet thos e needs . For ex ample, many financ ial ins titutions k eep trac k of c us tomers ' life s tages in order to mark et appropriate bank ing produc ts lik e mortgages or IRAs to them at the right time to fit their needs . RELATED LINKS CRM: Challenges and Advic e for CIOs in 2007 Getting to Know Them The Truth About On-Demand CRM The Ques t for Cus tomer Data Integration Is CRM Dead? NEW SLETTERS Enterpris e Applic ations Nex t, the organiz ation mus t look into all of the different way s information about c us tomers c omes into a bus ines s , where and how this data is s tored and how it is c urrently us ed. One c ompany , for ins tanc e, may interac t with c us tomers in a my riad of different way s inc luding mail c ampaigns , W eb s ites , bric k and-mortar s tores , c all c enters , mobile s ales forc e s taff and mark eting and advertis ing efforts . CRM s y s tems link up eac h of thes e points . This c ollec ted data flows between operational s y s tems (lik e s ales and inventory s y s tems ) and analy tic al s y s tems that c an help s ort through thes e rec ords for patterns . Company analy s ts c an then c omb through the data to obtain a holis tic view of eac h c us tomer and pinpoint areas where better s ervic es are needed. For ex ample, if s omeone has a mortgage, a bus ines s loan, an IRA and a large c ommerc ial c hec k ing ac c ount with one bank , it behooves the bank to treat this pers on well eac h time it has any c ontac t with him or her. Ar e th e r e an y in d icatio n s o f th e n e e d fo r a CRM p r o je ct? You need CRM when it is c lear y ou don’t have an ac c urate view of who y our c us tomers are and what their needs or des ires are or will be at any given s tage in their lives . If...
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