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CRM (customer relationship management) is an industry term for methodologies, software that helps any organization manage customer relationships in an organized way to serve better. The more useful way to think about CRM is as a process that will help bring together lots of pieces of information about customer, sales, marketing effectiveness, responsiveness and market trends.
For example, an organization might build a database about its customers that describes relationships in sufficient detail so that management, salespeople, people providing service, and perhaps the customer directly could access information, match customer needs with product plans and offerings, remind customers of service requirements, know what other products a customer had purchased or even send them greetings and so forth.
If a customer relationship is the heart of business success, then CRM is the valve that pumps a company's life blood. As such, CRM is best suited to help businesses use people, processes, and technology to gain insight into the behavior and value of customers. This insight allows for improved customer service, increased call center efficiency, added cross-sell and upsell opportunities, improved close rates, streamlined sales and marketing processes, improved customer profiling and targeting, reduced costs, and increased share of customer and overall.
Spectrum Info Solutions has 2 products to offer when it comes to complete CRM Solutions. We offer on-premise as well as hosted services.
Pre-sales Management : Enquiry, Follow-up, Closure, Attach Quotation, Reminders for follow-up, Team creation & more
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Sales & Service Management : Sales,stock maintenance,Billing, Payment, AMC, Complaints & more
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Customer Relationship Management (CRM) Key Business Process areas
Marketing
CRM aligns marketing processes and drive customer demand using functionality to enhance management of marketing resources, segments and lists, campaigns, leads, trade promotions, and marketing analytics.
Sales
CRM enables you to acquire, grow, and retain profitable relationships with functionality for sales planning and forecasting and the management of territories, accounts, contacts, activities, opportunities, quotations, orders, product configuration, pricing, billing, and contracts.
Service
CRM can drive service revenue and profitability with support for service sales and marketing. More effectively manage service orders, contracts, complaints and returns, in-house and depot repairs, warranties, resource planning, e-service, and service analytics. Functionality to support call centers, field service, and e-service provides flexible delivery options.
Partner channel management
With CRM you can attain a more profitable and loyal indirect channel by managing partner relationships and empowering channel partners. Improve processes for partner recruitment and management, communications, channel marketing and forecasting, collaborative selling, partner order management, channel service, and analytics for partners and channel managers.
Running an interaction center
Customer interaction centers are places where you meet your customer face to face. With CRM, you can maximize customer loyalty, cut costs, and boost revenue by transforming your interaction center into a strategic delivery channel for marketing, sales, and service efforts across all touch points. Effectively handle activities such as telemarketing, telesales, customer service, human resources, IT support, and interaction center management.
Web channel enablement
Increase sales and reduce transaction costs by turning the Internet into a valuable sales, marketing, and service channel for businesses and consumers. Increase profitability and reach new markets with a fully integrated Web channel, including support for e-marketing, e-commerce, e-service, and Web channel analytics.
Business communications management
Manage inbound and outbound contacts across multiple locations and channels. Integrate multichannel communications with customer-facing business processes to provide customers and partners with seamless, consistent experiences across all channels, including voice, text messaging, the Web, and e-mail.
Real-time offer management
Turn all customer interactions into opportunities to build customer relationships and generate revenue. Plan, develop, and execute cross-selling, up-selling, and retention offers; service-level agreements; and more. Take appropriate subsequent actions to enhance customer relationships and ensure relevant and personalized customer interactions.
Trade promotion management
CRM will boost a company's brand presence and profits with visibility into and control of all trade related processes. Increase accounting accuracy of trade and financial results with back-office integration. Gain key business insights to help you optimize trade activities. Increase your trade promotion success with analytics and enhanced management of trade funds, promotions, claims, and retail execution
Using CRM, a business can
-Provide better customer service
-Increase customer revenues
-Discover new customers
-Cross sell/Up Sell products more effectively
-Help sales staff close deals faster
-Make call centers more efficient
-Simplify marketing and sales processes
The advantages can be summarized according to the Feature
Marketing
-Make intelligent business decisions with enhanced customer insights
-Increase marketing velocity and speed to market
-Maximize visibility into and control of your entire marketing process
-Drive customer demand
-Increase returns on your marketing investments
Sales
-Grow profitable relationships
-Maintain focus on productive activity
-Eliminate barriers to productivity
-Improve sales efficiency Service
-Transform service into a profitable line of business
-Increase customer loyalty
-Drive revenue
-Reduce costs of customer service and field service
-Decrease service giveaways
Web channel enablement
-Drive revenue and extend market reach
-Increase customer convenience and satisfaction
-Reduce the cost of sales and support
-Build lasting customer loyalty
-Improve sales and service profitability
Running an interaction center
-Increase customer satisfaction
-Improve credibility with your customers
-Increase revenue and productivity
-Manage the customer interaction life cycle
Partner channel management
-Boost revenue through channel collaboration
-Reduce indirect channel support costs
-Increase partner satisfaction and ease of doing business
-Maximize value to your customers by enabling your partners
The types of data CRM projects collect
-Responses to campaigns
-Shipping and fulfillment dates
-Sales and purchase data
-Account information
-Web registration data
-Service and support records
-Demographic data
-Web sales data
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