CRM White Paper
David Mastervich
Sales Strategies and Deployment
Overview
Rich customer relationships that generate loyalty and revenue are critical to sustained business performance. Now more than ever, organizations must be able to flexibly adapt to the unique needs of individual customers. To meet this challenge, companies of all sizes are deploying Customer Relationship Management (CRM) applications and strategies across their organizations. They are coordinating multiple channels: including the web, email, call centers, direct mail and face to face ? to interact with customers and meet their needs.
Profitable customer relationships begin with sound planning. Actionable strategies for collecting customer data, mining it for valuable insight and cost effectively building these relationships are required to drive results. Firms must identify their Most Valuable Customers, interact with them across all channels and meet their needs.
The ability of the organization to interact effectively with stakeholders depends on the quality and nature of the data, how the company derives insights from the data, and how it makes the data or the analysis available to the appropriate interface. Over time, customer loyalty, satisfaction and share-of-customer revenue increase, while costs decrease.
The term CRM has become an over used and often misunderstood term in recent Marketing Strategies. It is mostly equated to IT solutions that build electronic interfaces between a business and their customers. It is much more than that. CRM is all about the Total Customer Experience that a person has with a business that through multiple interactions across channels. Before CRM, there was database marketing. There always existed benefits in un ...