Customer Relationship Management Essay -- Software Technology CRM Essa

Customer birth focusA relative of mine works for a collective theatre on CRM (CustomerRelationship Management) software. He told me that their caller-out isdoing well with their CRM initiative art object roughly of the othercompanies, using different software, are not achieving their inclination of node satisfaction. That gave me a big click of interest towards myresearch topic and I came up with a research questions as How toavoid CRM misfortune? and how to choose a best CRM software vendor?Customer Relationship Management is an interactive process forachieving the optimum balance between merged investments and thesatisfaction of guest needs to generate the maximum profit. CRMrefers to way of all told 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 service.According to Jill Dyche (2002), CRM promises to help companies furbish up toknow their customers well enough to understand which ones to keep andwhich ones they should be volition to lose and why -and how not tooverspend in the mean beat. CRM also meat automating many of thebusiness processes and accompanying analysis and saving precious timein the bargain.Todays companies are interacting with consumers at unprecedentedlevels and crosswise 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 cutting customersand retain those who have high value, since customers have real valueto the companys advantage. And companies are pouring millions ofdollars into customer relationship management, but most initiativesfail to deliver customer needs, so it is essential to have a properanalysis of CRM before choosing a particular vendor. The objective of earnest CRM is to increase the customer base by acquiring new customersand in effect serving the needs of existing customers.The U.S. business-to-consumer e-commerce market is forecast to growfrom $41.7 billion this year to $163 billion in 2004, and companiesare realizing that customer relationship management will be a keydriver of this growth, says Robert DeSisto, a VP with corporateconsultant Gartner Group (Jusko, 2001, p.12).Gartne... ...World Wide Web http//www.selltis.com/newssalesandmarketing20020103.htm. Sullivan, Tom (2001, February). software system plectrum process. InfoWorld magazine.. Robert, M., Deanne, M., John, A. W. (2001). Emerging Technologies for Enhancing SupplierReseller Partnerships. Retrieved December 11, 2002 from World Wide Web http//www. intuitiondirect.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 Ensu ring Customer success Retrieved December 11, 2002 from World Wide Web http//www.siebel.com/bestpractices/implementation.shtm. Perkins, Bob. (2001). The Truth about CRM Software Satisfaction 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