Skip to main content
Business LibreTexts

14.S: Customer relationship management(Summary)

  • Page ID
    42200
  • Customer relationship management is the cornerstone of your interactions with customers. Digital technology makes the process of discovering key insights seamless, effective and very useful, but CRM cannot be restricted to only digital channels as customer interactions happen offline too. There are many benefits to implementing a CRM strategy from reduced customer service costs to happier customers, and quicker, more tailored, and effective communications.

    Naturally, understanding customers is the biggest outcome of CRM and this understanding leads to meeting their needs much more effectively, which in turn has direct bottom-line benefits for the brand.

    There are many facets to CRM that you should consider before deciding how you will approach it. The key ones are:

    • Brand touchpoints: How do customers interact with the brand, and vice versa?
    • The tools you need for your business: Operational CRM, analytical CRM, collaborative
    • CRM and sales force automation are the main categories.
    • What channels are available to you to communicate with your clients?
    • Implementations: CRM can be implemented for sales, marketing and customer support and service fulfilment.
    • What are the steps you need to take within your organisation to ensure a successful CRM strategy?
    • What cost are you looking at and what return on investment are you expecting?
    • Your long-term aims: CRM is never a short-term solution.
    • What are your data capabilities and needs: Are you gathering the correct data, storing it correctly, updating it constantly and then analysing it for insights?
    • Was this article helpful?