What is the Definition of CRM?

CRM is software. Unfortunately, that belief system is why so many CRM implementations fail. They are only implementing software. Just as in politics, marketing has been used very effectively by software companies, and resellers, to create a belief system based on sound bites. If you assert it often enough, it becomes true, no trouble how ridiculous it sounds. CRM absolutely stands for "Customer Relationship Management." I don't see the vocable software in there, do you? CRM is really a customer-centric course of action of doing business. It's a philosophy that if you truly know your customer, you will be able to deliver the products and services they need, instead of the products and services you entail to sell. The end result should be more than customer satisfaction. It should be increasing customer loyalty. CRM is also a strategy which is based on an acute understanding of your customers. Knowing which customers are profitable and which customers are no
t. Knowing what they need, and what they don't need. A solid CRM strategy will advice you manage the four bottomline corners of your business: Revenue, Costs, Profitability and Lost Opportunity Costs. If you are considering that first step into the CRM abyss, or if your looking for some benefit getting outside of it, set off with this CRM Definition: CRM is not software. CRM is your commitment to know your customer better. CRM requires you to develop a strategy to increase customer loyalty through a bigger understanding of those customers. CRM is about setting measurable economic goals, justifying the investment to achieve them and measuring them. CRM is about communicating a customer focused vision to your customer facing business units. CRM is about leading your customer facing business units to business together so your customer sees a clear and unified message. CRM is not about Sales. It's about Sales, Marketing, Customer Work and Customer Support worki
ng together. And once you've done all of this, you will know what you necessitate and don't demand in a CRM software package. Don't develop a CRM strategy based on the features of some CRM software. Your requirements should be derived from your Strategy, not from your software. Full text: http://computerandtechnologies.com/computers-and-technology/news_2008-10-19-18-00-04-885.html