Customer Relationship Management Essay -- Software Technology CRM Essa

Customer Relationship careA relative of mine works for a corporate firm on CRM (CustomerRelationship Management) software. He told me that their company isdoing well with their CRM initiative while some of the othercompanies, using antithetical software, are not achieving their goal of guest contentment. That gave me a big click of interest towards myresearch topic and I came up with a research questions as How toavoid CRM exiture? and how to film a best CRM software vendor?Customer Relationship Management is an interactive process forachieving the optimum balance between corporate investments and thesatisfaction of customer needs to generate the maximum profit. CRMrefers to management of all interactions with customers in which theenterprise indulges. Its main focus is on managing and optimizingentire customer lifecycle. The customer lifecycle revolves aroundmarketing, sales and customer assist.According to Jill Dyche (2002), CRM promises to help companies get to discern the ir customers well enough to understand which ones to keep andwhich ones they should be resulting to meet and why -and how not tooverspend in the meantime. CRM also means automating many a(prenominal) of thebusiness processes and accompanying analysis and saving precious timein the bargain.Todays companies are interacting with consumers at unprecedentedlevels and across different channels, such as E-mail, text chat, andmulti-functional call centers. Marketing, sales and customer serviceare commonplace for CRM, so it is essential to acquire new customersand forbear those who have high value, since customers have real valueto the companys success. And companies are pouring millions ofdollars into customer relationship management, but most initiativesfail to deliver customer needs, so it is essential to have a befittinganalysis of CRM before choosing a particular vendor. The objective ofgood CRM is to cast up the customer base by acquiring new customersand effectively suffice the needs of existing customers.The U.S. business-to-consumer e-commerce market is forecast to growfrom $41.7 billion this stratum to $163 billion in 2004, and companiesare realizing that customer relationship management will be a rougedriver of this growth, says Robert DeSisto, a VP with corporateadvisor Gartner Group (Jusko, 2001, p.12).Gartne... ...World Wide Web http//www.selltis.com/newssalesandmarketing20020103.htm. Sullivan, Tom (2001, February). Software selection process. InfoWorld magazine.. Robert, M., Deanne, M., John, A. W. (2001). acclivitous Technologies for Enhancing SupplierReseller Partnerships. Retrieved declination 11, 2002 from World Wide Web http//www.sciencedirect.com/science?_ob=MImg&_imagekey=B6V69-42BTKST- 23&_cdi=5809&_orig=browse&_coverDate=02%2F28 2F2001&_sk=999699997&wchp=dGLbVzblSzBS& _acct=C000043018&_version=1&_userid=776986&md5=dc3b050988e40666b4698d136219cf4f&ie=f. pdf. Siebel systems (2002).Implementation best practices Ensuring Custom er success Retrieved December 11, 2002 from World Wide Web http//www.siebel.com/bestpractices/implementation.shtm. Perkins, Bob. (2001). The Truth about CRM Software expiation Leveraging the Economy of Trust. Retrieved November 11, 2002 from http//www.crmguru.com/crminsight/2001c/0927.htm2. Hubley, Jen. (2002). Personalization tops privacy as key concern for e-mail marketers Retrieved December 12, 2002 from http//searchcrm.techtarget.com/originalContent/0,289142,sid11_gci790282,00.html