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What is CRM, Customer Relationship
Whatever business you're running, you need to keep records of customer accounts, payables to
suppliers, tax payments, collectibles, and dozens of other information vital to managing your
business at all fronts. Like your competition, you want to be on top of everything, especially
when it concerns your customers. What is CRM technology to you then?
What is CRM?
CRM or customer relationship management is the core of every business marketing strategy.
Whether it's offering discounts or freebies, these are geared towards maintaining continued
customer patronage and giving the customers 100% satisfaction from the purchase of company
product or services.
But what is CRM from the viewpoint of top management? Top management look at CRM as the
legitimate source of information culled from various sources and consolidated for ease of
reference and analysis. People handling CRM are responsible for inputting data and managing
the information according to company standards.
Organizations are realizing the importance of CRM technology. What is a CRM technology
providing them? CRM has afforded them the convenience of managing information from various
sources in a timely manner. However, there is no uniformity in corporate needs. Even small
establishments have different requirements.
Customized or Configured?
A bank needs to store and manage data differently from an international shipping company. A
multinational bookstore and a small bookstore records and uses data similarly in some aspects,
but the extent will be at a great variance. The former will talking about data in the hundreds of
thousands, while latter is seeing a databank storing information in a smaller scale. What is CRM
technology to one will always be different to another.
But both can benefit from CRM technology in many ways if they are using the best CRM
software. The best CRM software is not about big name merchants. It is the program or the
solutions the software offers for specific needs.
Different CRM software offer different solutions and options. Some can be customized or
configured. For customization, a company can request for a customized screen, listing, and
custom reports. For complex applications, requests for additional configuration tools are
For customization, you have to list down your specifications. Determine what kind of
information you need, how you are going to use them, and what existing platforms you are going
to integrate into the new system. No doubt, this will cost you. Buyers are required to be very
specific in their requirements to help them get the maximum benefit from CRM software
solutions available.
The Concept of CRM
The concept of customer relationship management is firmly bolted into the DNA of marketing.
Whether one is talking about the process or technology, it always ends up in getting more
customers, keeping the loyal ones, and getting more sales.
CRM is about managing customer information and profiting from this. To make this work,
companies must have of personnel trained on the technology. It is not recommended to have only
one person instructed on the features and management of the software solutions. The more
people trained the better because the collaborative aspect of the program can be used effectively,
with minimal errors and without unnecessary delays.
CRM is the latest tool to enhance marketing strategies. A business without this technology
misses features that make jobs easier and faster. With CRM, prepare your mindset for busy
business days ahead and increased revenues.