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Objectives of CRM: Relationship and The Main Objectives To Implement CRM in The Business Strategy Are

The document discusses the common objectives of implementing a Customer Relationship Management (CRM) system in an organization. The key objectives mentioned are: 1) Increasing customer service and establishing customer loyalty to improve retention. 2) Increasing organizational efficiency by reducing costs and retaining customers through effective CRM training. 3) Lowering operating costs by optimizing workforce management and reducing costs to achieve greater efficiency. The document emphasizes that the overall goal of CRM is to analyze customer behavior and value to better understand customers, simplify processes, improve service, discover new customers, and increase revenue through effective relationship management.

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122 views

Objectives of CRM: Relationship and The Main Objectives To Implement CRM in The Business Strategy Are

The document discusses the common objectives of implementing a Customer Relationship Management (CRM) system in an organization. The key objectives mentioned are: 1) Increasing customer service and establishing customer loyalty to improve retention. 2) Increasing organizational efficiency by reducing costs and retaining customers through effective CRM training. 3) Lowering operating costs by optimizing workforce management and reducing costs to achieve greater efficiency. The document emphasizes that the overall goal of CRM is to analyze customer behavior and value to better understand customers, simplify processes, improve service, discover new customers, and increase revenue through effective relationship management.

Uploaded by

behappy_aklprasad
Copyright
© Attribution Non-Commercial (BY-NC)
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Download as DOCX, PDF, TXT or read online on Scribd
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Some of the Commonly Established CRM Objectives are as follows:

Increase in Customer Service


Establishing customer loyalty as one of your top CRM goals is absolutely fundamental to CRM successful implementation .For this task it is
essential that the whole organization realize that they play a part in this goal. This objective cannot be achieved with the help of a few
employees only.
Customers need to feel that they have received excellent service. This ensures their continued patronage. This is by far one of the most
essential goals of customer relationship management. Customer retention and brand loyalty is absolutely essential to ensure success.
Undoubtedly it is far harder to gain a new customer than to actually keep one. Customer service is the pivotal point around which CRM
revolves.
Increasing Efficiency
One of the most important goals of CRM is the increase in organization efficiency and effectiveness. This is almost always adopted by every
organization. It is necessitated by the fact that increase in efficiency is required to boost success. CRM achieves this through cost reduction
and customer retention. Adequate CRM training achieves this goal.
Lowering Operating Costs
CRM goals also include the reduction of costs of operation. This goal should be clearly established and conveyed to all those involved in the
CRM implementation process. CRM manages to reduce operating costs through a workforce management system. This helps to maximize
skills and thus reduce cost. These reduced costs enable an organization to achieve greater efficiency. If cost reduction is management's
objective then the CRM implementation should be carried out in such a way that this is achieved. Throughout the process maximum
reduction in costs should be adhered to in order to meet this particular CRM goal.
OR

Objectives of CRM
CRM, the technology, along with human resources of the company, enables the company to analyze the behavior of customers
and their value. The main areas of focus are as the name suggests: customer ,relationship , and the management of
relationship and the main objectives to implement CRM in the business strategy are:

To simplify marketing and sales process


To make call centers more efficient
To provide better customer service
To discover new customers and increase customer revenue
To cross sell products more effectively
The CRM processes should fully support the basic steps of customer life cycle . The basic steps are:

Attracting present and new customers


Acquiring new customers
Serving the customers
Finally, retaining the customers
Selection of the Right CRM Technology
The point here is one size doesn't fit all . There is no single CRM software or formula which will give instant success to all
companies. For small or medium enterprises, the requirement is different from that of big firms. Most CRM packages provide
excellent sales force automation, but not equally good integration with computer telephony, or with web. These are adequate for
small and medium firms but not for large firms. A mix of different software to link the databases, data warehousing software,
contact management software, and a CRM package will go a long way in helping to upgrade the small companies.
Other internet enabled applications available are enterprise resource planning packages, e-commerce applications, relationship
management packages, enterprise portal applications etc. One can adopt the best practices to slash costs, introduce efficiencies
into supply chain and internal operations. Today t he global market for CRM services and solutions is currently worth $148
billion. This proves to show the numerous choices available in this field.
Benefits
The following are the benefits of adopting CRM processes: Develop better communication channels

Collect customer related data


Create detailed profiles of individual customers
Increased customer satisfaction
Access to customer account history, order information, and customer information at all touch points
Identify new selling opportunities
Increased market share and profit margin
Increased revenues
More effective reach and marketing
Improved customer service and support
Improved response time to customer requests for information
Enhanced customer loyalty
Improved ability to meet customer requirements
Improved quality communication and networking
Reduced costs of buying and using product and services
Better stand against global competition

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