Benefits of Customer relationship management

5 pts.
Tags:
CRM
CRM best practices
e-marketing
Can you tell me some of the e-marketing aspects of customer relationship management
ASKED: April 15, 2010  2:53 AM
UPDATED: November 15, 2010  5:56 AM

Answer Wiki

Thanks. We'll let you know when a new response is added.

CRM stands for customer relationship management, defined as a software technology and overall business strategy that enables companies, large and small, to manage their sales leads, accounts, orders, and case management. The benefits of CRM software includes
1. Increased revenue from managing accounts and orders efficiently
2. More satisfied customers
3. Reduced costs stemming from less administrative tracking time
4. Greater turnaround time

For Large to small business it reflects as :
Large enterprise businesses — These global companies require CRM systems that integrate customer service management, sales force management, and IT management into the CRM package. For instance, customer service CRM helps these large companies keep track of extensive customer databases so that customer service support personnel can easily locate accounts, track and analyze orders, as well as track helpdesk tickets so that the questions get answered. Examples of CRM vendors that serve enterprise companies include Oracle and Microsoft Dynamics CRM. Usually large companies purchase a license from these vendors so that they can customize their CRM solution into their IT systems.

Small Business Enterprises and Small/Medium Enterprises — Since serving existing customers is always more profitable than spending resources for new ones, CRM helps small and medium sized businesses track and manage opportunities like sales leads, phone calls, and report generation. CRM allows smaller companies to keep abreast of customer needs and trends, while looking like a large business that operates 24/7. The right CRM package can provide a self-help, automated program that answers customer questions outside of normal business hours.

Discuss This Question:  

 
There was an error processing your information. Please try again later.
Thanks. We'll let you know when a new response is added.
Send me notifications when members answer or reply to this question.

REGISTER or login:

Forgot Password?
By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy

Forgot Password

No problem! Submit your e-mail address below. We'll send you an e-mail containing your password.

Your password has been sent to:

To follow this tag...

There was an error processing your information. Please try again later.

REGISTER or login:

Forgot Password?
By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy

Thanks! We'll email you when relevant content is added and updated.

Following