MAB PARADIGMS CONSULTING FIRM

News Flash

Customer Relationship Management (CRM)


There are a number of major benefits attainable in improving the service received by customers but most particularly in building and leveraging powerful and insightful databases of customer information. However, fully realizing those benefits has proved difficult for many companies. CRM developments have paralleled the growth in e-business and the two areas have several connections, leading to the emergence of e-CRM.


Levels of CRM Strategy

One way of categorizing CRM initiatives is to distinguish between operational, analytical and strategic CRM levels.

 

Operations CRM

  • Customer Services
  • Customer Data Capture
  • Customer Data Base
  • Customer Relationships

 

Analytical CRM

  • Infrastructure for customer knowledge
  • Targeted marketing communications and others

 

Strategic CRM

  • Customer Value
  • Competitive Differentiation
  • Market Segmentation
  • Strategic Position

 

Requirements for Effective CRM Implementation

Corporate expenditures on CRM technology are running at very high levels across the world and with a signs of continued growth. Nevertheless, the evidence of performance of CRM systems has been disappointing for many companies. There are strategic and technical components for successful implementing the CRM strategy even though future rate is above 50 percent across the industries. There are four significant pitfalls to avoid in designing and implementing the CRM strategy.