Customer Resource Management

CRM is a company wide business strategy designed to reduce costs and increase profitability from all data sources within an organization. CRM gives one holistic view of each customer in real time, enabling employees that encounter customers directly to to make quick and informed decisions.

CRM is comprised of three entities

Information Technology

Customer Life Cycle

Business Strategy

Significance

Customer relations are considered the lifeblood of any successful organization. In the same sense, CRM, is the heart that pumps that blood. CRM software allows employees to access information about their customers with ease and improve marketing processes, customer profiling, and profitability.

Information Technology

Customer Touch Points: instances of contact between customer and an organization.

Applications: software that support business processes.

Data Stores: collections of information that influence business decisions.

Customer Life Cycle

Assessment of customers’ needs.

Business Strategy

Social CRM

Twitter, Facebook, and Myspace are all valuable tools in CRM. Companies have begun to track social media and observe public opinion. Businesses may also create their own social media pages in order to get feedback directly from customers where they are most comfortable.

http://www.facebook.com/razer

CRM in the workplace

CRM is often a package of software that is used to influence employees on how to deal with their customers. The software tracks sales data, feedback, service dates, customer information and uses that data to attract more customers. CRM drives birthday cards from companies, service reminder post-cards, and product recalls.

SalesForce

Sales: Planning, Opportunities, Accounts, Productivity,Pipeline, Workflows, Mobility, Analytics

Services: Accounts, Cases, Contracts, Knowledge Base,Scheduling, Workflows, Mobility, Analytics

Marketing: Data, Segmentation, Planning, Execution, Events, Response, Internet Marketing, Productivity,Workflows, Mobility, Analytics

SAP

Marketing, Sales, Service, Partner channel management, Interaction center, Web channel, Business communication management, Real-time offer management

Top CRM Providers

· NetSuite CRM+ $139 per user per month· WorkBooks.com £35 per user per month· Microsoft Dynamics costs $622-$880 per user and $1,244-$1761 per server for Professional Edition, Small business edition costs $440-$499 and $528-599 per server· Sage $1,495 per server and $495 per user license.· SalesForce starts at $9 per user per month and $65 per user month for Full-Featured CRM

Top CRM providers Cont.

· Sales Track $40 per user per month· Prospect Soft unpublished pricing· Salesnet unpublished pricing· ClaritySoft $26 per user per month· Sales Elites unpublished pricing· coAction $25 per month· Tracker RMS £500 per user per year.· Zoho CRM free for first three users, Professional $12 per user per month for 4th+ user, Enterprise Edition $25per user per month for 4th+ user

ReferencesMarketingteacher.com

destinationcrm.com

bestpricecomputers.co.uk

sap.com

Insidecrm.com

salesforce.com

crm.dynamics.com/en-us/Default.aspx