CRM. Those aspects of a business strategy which relate to techniques and methods for attracting and retaining customers.
Software system involving customer-centric automation and management functionallity for sales, service and marketing. Should be integrated with supply chain management and enterprise resource management systems. Digital Asset Management System A software suite to manage digital files (e.g. images, documents, videos, presentations etc.). DAM-software may include functions to convert between file types and may be used as a content repository for other information systems, such as web content management systems.
"CRM is a business approach that integrates People, Processes and Technology to maximize the relations of an organizations with all types of customers. The true value of CRM is to transform strategy, operational processes and business functions in order to retain customers and increase customer loyalty and profitability." by Aris Pantazopoulos, Founder, CRM Today Click here for more definitions on CRM
The way in which a company manages interactions with its customers. A successful CRM solution depends on an ability to interact with customers through any channel they choose, as well as a way to track and maintain real-time records of customer interactions so a complete view of the customer is always available.
The processes and systems that combine sales, marketing, contact management and support activities in managing customer interaction. They provide tools to analyze customer/product sales history and profitability, campaign tracking and management, contact and call center management, order status information, and returns and service tracking.
Building profitable relationships with customers by gaining customer knowledge. Increased customer knowledge regarding their value, needs, preferences and behaviors helps improve internal processes and creates outstanding customer interactions and experiences.
Corporate information systems and strategy designed to collect, evaluate, process and provide detailed information regarding a company's customers in order to improve customer satisfaction and maximize profits.
A technology-enabled strategy to convert data-driven decisions into business actions in response to, and in anticipation of, actual customer behavior. From a technology perspective, CRM represents the systems and infrastructure required to capture, analyze and share all facets of the customer's relationship with the enterprise. From a strategy perspective, it represents a process to measure and allocate organizational resources to those activities that have the greatest return and impact on profitable customer relationships.
CRM entails all aspects of interaction a company has with its customer base, whether it be service or sales related. Computerization has changed the way companies are approaching their day to day CRM strategies because it has also changed consumer buying behavior. With each new advancement in technology, especially the proliferation of self-service channels like the Web and WAP phones, many more of the relationship is being managed electronically. Many Organizations are therefore seeking for ways to personalize online experiences to their consumers (a process also referred to as mass customization) through tools such as help-desk software, e-mail organizers and Web development applications.
Customer Relationship Management (CRM) is the art of integrating every aspect of IT that relates to the customer - quite literally everything from marketing through sales to accounts receivable and bill collection.
the coherent management of contacts and all interactions with customers using a sophisticated and integrated database. In essence, it tries to replicate for large corporations the intimate knowledge small businesses have of their customers.
A business approach that integrates every facet of an organization's software or other operations that involve securing, serving and retaining customers with the goal of customer satisfaction.
The IT management of contacts and interactions with customers.
Automated management of integrated business processes, i.e. sales (customer contact product configuration), marketing (campaigns, telemarketing) and customer service (call center, field service).
Encompasses all the steps an organization takes to build and sustain profitable customer relationships -- from identifying business opportunities to creating a proposal and delivering a solution, to ensuring the customer is satisfied. These activities are usually performed by sales, marketing, and service professionals, and are collectively known as the "front office." Daylight Savings Time: The daylight saving time originated around 1919, for reasons connected with agriculture. The time is usually one hour ahead of standard time. (Webster's Ninth) Some countries refer to DST as summer time or advanced time. Descender: The part of the character that extends from the baseline to the bottom of the character cell. Examples of letters with descenders are g, j, p, q, y, and Q. Contrast with ascender.
A technology designed to help organizations maintain interaction with their customers.
The combined set of activities related to managing the customer’s interaction with a corporation. An ongoing marketing process of Database Marketing, Customized Communications, customer recognition and rewards, customer service and contact tracking that, over time, builds loyalty, to the benefit of both the individual and the company. CRM enables companies to demonstrate to their customers that they understand and appreciate their needs and are prepared to fill those needs in a meaningful, quick and "intimate" way. There are strong economic benefits – including acquisition, retention and share expansion – for creating customer intimacy and building customer relationships.
Discipline designed to identify, attract, and retain a company's most valuable customers. Theoretically, CRM can provide a unified enterprise wide view of the customer to cultivate high level relationships that can lead to improved loyalty and profits. Effective CRM requires an integrated sales, marketing, and service strategy. CRM has resurfaced because technology has ameliorated its implementation .An astute CRM strategy can anticipate needs; tailor messages, products and services; create value; anticipate problems; and improve the customer's overall experience in dealing with the company.
A term for methodologies, software, and usually Internet capabilities that help a business manage customer relationships in an organized - and often automated - way. PureShare has worked with clients to integrate their CRM solutions into corporate performance management, allowing them to track customer relationship key performance indicators.
A business strategy that puts the customer at the heart of the business and utilises software to retain and improve customer loyalty and profitability.
A business strategy designed to optimize profitability, revenue and customer satisfaction. To realize CRM, enterprises must foster behaviors and implement processes and technologies that support coordinated customer interactions throughout all customer channels (Gartner Group, 1999).
CRM is enterprise-wide software applications that allow companies to manage every aspect of their relationship with a customer. The basic aim is to assist in building lasting customer relationships, turning customer satisfaction into customer loyalty and using data mining techniques to harvest customer data stored in databases.
CRM entails all aspects of interaction a company has with its customer. It includes methodologies, software, and usually Internet capabilities that help an organization manage customer relationships in an organized way. The Customer Perspective of the Balanced Scorecard may contain references to a CRM program.
The systematic collection and utilisation by a business of data re the identity, spending patterns and interests of each of its customers, in order to foster customer loyalty through individualised correspondence and tailored benefits and offers
An enterprise-wide business strategy designed to optimize profitability, revenue, and customer needs satisfaction. To accomplish this the enterprise must organize operations around customer segments, fostering customer satisfying behaviors and linking processes from customers back through suppliers.
Tracking customer behavior for the purpose of developing marketing and relationship-building processes that bond the consumer to the brand. Developing software or systems to provide one-to-one customer service and personal contact between the company and the customer.
A business process using software coupled with traditional marketing, sales, and support methods to retain and improve customer loyalty. The goal is to build a personal relationship with each customer based on their unique needs, to satisfy those needs, and to build long-term trust.
Set of methodologies, software, and usually Internet capabilities that help an enterprise manage customer relationships in an organized way. It includes all business processes in sales, marketing, and service that touch the customer. For example, an enterprise might build a database about its customers that describes relationships in sufficient detail so that management, salespeople, people providing service, and even the customer can access information, match customer needs with product plans and offerings, remind customers of service requirements, know what other products a customer has purchased, and so on. In contrast to customer care, Customer Relationship Management tends to be used to deal more specifically with the integration of all business functions with each other. SAP also provides applications for Customer Relationship Management under the SAP CRM initiative.
Uses proven methodologies and e-business technologies to help companies to identify, select, acquire, develop, and retain profitable customers, building the lasting relationships that are key to long-term financial success.
Providing better communication, offers and services to customers by evaluating your previous interactions with them. (ex: ACT, ACCESS)
Complex software used by big companies to improve customer experience. Each stage of the customer dealings with a company are logged on the computer system, so all staff are fully informed about each client's accumulated experience.
A business strategy which helps companies get and care for customers.
An information industry term for the methodologies, software and internet capabilities that help a company manage customer relationships in an efficient and organized manner.( Back to the top)
Customer relationship management (CRM) moves a company from a product-centric focus to a customer-centric focus. CRM is a business strategy that aims to understand, anticipate, and manage the needs of an organization's most important asset, its customers. CRM is software coupled with traditional marketing, sales, and support methods that are used to retain and improve customer loyalty. The goal is to build a focused relationship with each customer based on their unique needs and a company's ability to satisfy those needs while improving customer satisfaction levels.
This is the practice of gathering customer information to foster a more collaborative and personal relationship through the use of software technologies. Understanding your customer and their needs permits improved and more cost efficient sales, marketing, customer service and business functions.
The idea of establishing relationships with customers on an individual basis, then using that information to treat different customers differently. Customer buying profiles and churn analysis are examples of decision support activities that can affect the success of customer relationships.
A business strategy based on selecting and proactively managing the most valuable customer relationships. It requires a customer-focused philosophy to support effective marketing, sales and customer service processes.
1. The overall process of marketing, sales, and service within any organization 2. The practice of identifying, acquiring and retaining the best customers to produce profitable growth. 3. A dialogue with customers consisting of sequenced messages timed to individual needs and opportunity. (Also known as Continuous Relationship Marketing, Relationship Management or Relationship Marketing)
The purpose of CRM is to enable organisations to maintain and enhance relationships with their customers.
Where companies use a variety of methods and contact strategies to build lasting and profitable relationships with customers, retaining their custom and generation more revenue.
CRM is the same as one-to-one marketing. This customer-focused business model also goes by the names relationship marketing, real-time marketing, customer intimacy, and a variety of other terms. But the idea is the same: establish relationships with customers on an individual basis, and then use the information you gather to treat different customers differently. The exchange between a customer and a company becomes mutually beneficial, as customers give information in return for personalized service that meets their individual needs.
The strategies, processes, people and technologies used by companies to successfully attract and retain customers for maximum corporate growth and profit. CRM initiatives are designed with the goal of meeting customer expectations and needs in order to achieve maximum customer lifetime value and return to the enterprise. As a primary sales, service and retention touch point for many companies, the Contact Center is a critical component of a successful CRM strategy. ata mining - Data mining entails analyzing information for previously undiscovered correlations between two markets. Data mining connections can be made through associations (baseball fans also watch football), sequences (buying wood and then buying paint), forecasting (based on patterns found), and clustering (grouping information in a new way).
Marketing specifically targeted to increasing brand loyalty (Source: IAB)
CRM (customer relationship management) is an information industry term for methodologies, software, and usually Internet capabilities that help an enterprise manage customer relationships in an organised way. For example, an enterprise might build a database about its customers that described 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, and so forth.
Managing and using data about customers to make them return buyers. Also relates to managing data to better serve users of the portal.
A combination of methodologies, software, and often web-based services that help an enterprise manage customer relationships in an organized way.
This term that describes techniques, software and Internet capabilities used by businesses to manage customer relationships in a unified fashion. CRM packages help companies integrate information from the entire enterprise to provide detailed profiles of its customers. That allows all the links in the chain to have the information needed to provide services like: Matching customer needs with products; Reminding customers of service requirements; Keeping track of previous purchases and sending reminders for continuing orders; And giving customers direct access to information. This in turn gives the enterprises the opportunity to improve and target marketing efforts, optimize information flow, and build better relationships between the company and its customers and distributors.
Supports all business processes in which customers and external business partners are involved. mySAP CRM incorporates CRM solutions for sales, service and marketing and contains new components such as Mobile Sales, Mobile Service, Customer Interaction Center and Internet Sales.
He, who knows his customers, can also serve them correctly! Thus, the concept of the "CRM" can be narrowed down to a single point. Marketing activities can then be objectively planned, and can be presented to the target group with a favorable cost-benefit ratio and without any server loss.
The ability to keep track of every interaction with every prospect and customer and keeps tracks of trends and tabulates results of such notes on an aggregate scale. Essentially, an intelligent interface that allows keeping notes of every action, sale, phone call, email, fax, etc. Allows businesses to better know their customers and target messages to portions of their customers and prospects. CRM is an integrated system designed to identify, acquire, and retain customers. CRM helps organizations maximize the value of every customer interaction by managing and coordinating customer interactions across multiple channels and departments.
Customer relationship management (CRM) is a broad term that covers concepts used by companies to manage their relationships with customers, including the capture, storage and analysis of customer information.