Customer relationship management

Use of technology. This feature is about following the technology trend and skills of value delivering using technology to make up-to-the-second
customer data available. It applies data warehouse
technology in order to aggregate transaction information, to merge the information with CRM solutions, and to provide KPI (key performance indicators).

Customer relationship management (CRM) is a system for managing a companys interactions with current
and future customers. It often involves using technology
to organize, automate and synchronize sales, marketing,
customer service, and technical support.[1]

Types

1.1

Opportunity management. This feature helps the

company to manage unpredictable growth and demand and implement a good forecasting model to
integrate sales history with sales projections.[8]

CRM Solutions

CRM Solutions come with many features and tools and

its important for a company to choose a product based
on their specic organizational needs. Most vendors will
present information on their respective websites:

CRM in developing and maintaining client relationships

Features These are what the product actually does 1.3 Marketing and Customer Service
and what value it can provide to an organization.
Customer relationship management systems track and
Support Many CRM vendors have a basic level of measure marketing campaigns over multiple networks.
support which generally only includes email and/or These systems can track customer analysis by customer
access to a support forum.[2][3][4] Telephone support clicks and sales. Places where CRM is used include
is often charged in either an annual or ad hoc pricing call centers, social media, direct mail, data storage les,
strategy. Some companies oer on-site support for banks, and customer data queries.
an extra premium.[5]
Pricing This will be shown either per-user[4][6] or as 1.4 CRM in customer contact centers
a at price for a number of users.[7] Vendors charge
annually, quarterly, or monthly with variable pricing CRM systems are customer relationship management
options for dierent features.
platforms. The goal of the system is to track, record,
store in databases, and then data mine the information in
Demonstration Periods Many vendors oer a trial a way that increases customer relations (predominantly
period and/or online demonstrations.
increased ARPU, and decreased churn). The CRM codies the interactions between you and your customers so
that you can maximize sales and prot using analytics and
1.2 Characteristics of CRM
KPIs to give the users as much information on where to
focus their marketing and customer service to maximize
Relationship management is a customer-oriented revenue and decrease idle and unproductive contact with
feature with service response based on customer your customers. The contact channels (now aiming to be
input, one-to-one solutions to customers require- omni-channel from multi-channel) use such operational
ments, direct online communications with customer methods as contact centers. The CRM software is inand customer service centers that help customers stalled in the contact centers, and help direct customers
solve their issues.
to the right agent or self-empowered knowledge.[9] CRM
Sales force automation. This function can imple- software can also be used to identify and reward loyal cusment sales promotion analysis, automate tracking of tomers over a period of time.
a clients account history for repeated sales or future
sales, and also oordinate sales, marketing, call centers, and retail outlets in order to realize the salesforce automation.

Growing in popularity is the idea of gamifying customer

service environments. The repetitive and tedious act of
answering support calls all day can be draining, even
for the most enthusiastic customer service representative.
1

TYPES

When agents are bored with their work, they become less 1.5.2 Dierences between CRM for B2B (Business
engaged and less motivated to do their jobs well. They
to Business) and B2C (Business to Customers)
are also prone to making mistakes. Gamication tools
can motivate agents by tapping into their visceral need B2B and B2C marketing operates dierently, that is why
for reward, status, achievement, and competition.[10]
they cannot use the same software. All the dierences are
focused on the approach of these two types of businesses:

1.5

CRM in B2B (Business-to-Business)

market

The modern environment requires one business to interact with another via the web. According to a Sweeney
Group denition, CRM is all the tools, technologies and
procedures to manage, improve, or facilitate sales, support and related interactions with customers, prospects,
and business partners throughout the enterprise.[11] It assumes that CRM is involved in every B2B transaction.[8]

B2B companies have smaller contact databases than

B2C
The amount of sales in B2B is relatively small
In B2B there is less gure propositions, but in some
cases they cost a lot more than B2C items
Relationships in B2B environment are built over a
longer time

Despite the general notion that CRM systems were created for the customer-centric businesses, they can also
B2B operations require special CRM solutions that are
be applied to B2B environments to streamline and imnot the same as for the B2C industry:
prove customer management conditions. B2C and B2B
CRM systems are not created equally and dierent CRM
B2B industries require specialized CRM solutions,
software applies to B2B and Business-to-Customer (B2C)
which are dierent from B2C companies requireconditions. B2B relationships usually have longer matuments. This is the main reason for ineective adoprity times than B2C relationships. For the best level of
tion of applications, despite both B2B and B2C inCRM operation in a B2B environment, the software must
dustries having the same aim: to understand its own
be personalized and delivered at individual levels.[12]
customers better
1.5.1

Implementing CRM to the company

The following are general guidelines on implementing a

CRM system.

There must be dierent CRM solutions for industries within the B2B market, because of the special
needs of each one. Also there is a demand of designing solutions using special color schemes.

1. Make a strategic decision on what problems you

want your CRM system to address, what improvements or changes it should bring in the business processes of the organization.

B2B CRM must be easily integrated with other companies IT-solutions. Such integration enables the
creation of forecasts about customer behavior based
on their buying history, bills, business success, etc.

2. Choose an appropriate project manager. Typically

IT will be engaged, however a manager with a customer service/sales and marketing business focus
should be involved, as the impact of the project will
be mainly on the business side.

An application for a B2B company must have a function to connect all the contacts, processes and deals
among the customers segment and then prepare a
paper

3. Ensure executive sponsorship and top management

support.
4. Empower team members with the required authority
to complete the tasks.
5. Select the correct implementation partner. They
must have both vertical and horizontal business
knowledge, as well as technical expertise.
6. Dene KPIs that will measure the projects success

Automation of sales process is an important requirement for B2B solutions. It should eectively manage the deal and progress it through all the phases
towards signing
A crucial point is personalization. It helps the B2B
company to save strong and long-lasting relationships with the customer. To communicate with them
more eectively, there should be integration with
the email solutions

7. Use a phased approach. Work towards long-term So, all the B2B applications must be both personalized
enterprise-scale implementation through a series of and be able to establish communication channels for supsmaller, phased implementations [13]
port of customers

3
1.5.3

SaaS CRM Software

1.9.1 Features of CCRM

Often referred to as on-demand software, SaaS based Customer-centric relationship management is used in
software is delivered via the Internet and does not require marketing, customer service and sales, including:
installation on your computer. Instead, you'll generally
tailored marketing
access the software via your web browser. Businesses using the software do not purchase the software, and typi one-to-one customer service
cally pay a subscription fee to the software vendor.[14]
retaining customers

1.6

Small business

building brand loyalty

providing information customers actually want

For small businesses a CRM system may simply con Subscription billing
sist of a contact manager system which integrates emails,
Rewards
documents, jobs, faxes, and scheduling for individual
accounts.[15] CRM systems available for specic markets
[19]
[20]
(legal, nance) frequently focus on event management Accenture and Emerald Insight are now beginning
and relationship tracking as opposed to nancial return to focus on CCRM as a discipline, with studies appearing
on Mendeley.[21]
on investment (ROI).

1.7

Social media

CRM often makes use of social media to build up

customer relationships. Some CRM systems integrate
social media sites like Twitter, LinkedIn and Facebook
to track and communicate with customers sharing their
opinions and experiences with a company, products and
services.[16] Enterprise Feedback Management software
platforms such as Conrmit, Medallia, and Satmetrix
combine internal survey data with trends identied
through social media to allow businesses to make more
accurate decisions on which products to supply.[17]

1.8

Non-prot and membership-based

Systems for non-prot and also membership-based organizations help track constituents, fund-raising, Sponsors
demographics, membership levels, membership directories, volunteering and communication with individuals.

2 Adoption issues
In 2003, a Gartner report estimated that more than $2
billion had been spent on software that was not being
used. According to CSO Insights, less than 40 percent
of 1,275 participating companies had end-user adoption
rates above 90 percent.[22] Many corporations only use
CRM systems on a partial or fragmented basis.[23] In a
2007 survey from the UK, four-fths of senior executives
reported that their biggest challenge is getting their sta to
use the systems they had installed. 43 percent of respondents said they use less than half the functionality of their
existing system.[24] . Recently, it is found in a study that
market research regarding consumers preference may increase the adoption of CRM among the developing countries consumers.[25]

3 CRM Paradox
The CRM Paradox, also referred to as the Dark side of

1.9

Customer-centric relationship man- CRM,[26] entails favoritism and dierential treatment of

some customers. This may cause perceptions of unfairagement (CCRM)

CCRM is a style of customer relationship management

that focuses on customer preferences instead of customer
leverage. This is a nascent sub-discipline of traditional
customer relationship management; to take advantage of
changes in communications technology.
Customer centric organizations help customers make better decisions and it also helps drive protability. CCRM
adds value by engaging customers in individual, interactive relationships.[18]
Customer-centricity diers from client-centricity in that
the latter refers almost exclusively to business-to-business
models rather than customer-facing rms.

ness among other customers buyers. They may opt out

of relationships, spread negative information, or engage
in misbehavior that may damage the rm. CRM fundamentally involves treating customers dierently based on
the assumption that customers are dierent and have different needs. Such perceived inequality may cause dissatisfaction, mistrust and result in unfair practices. A customer shows trust when he bonds in a relationship with
a rm when he knows that the rm is acting fairly and
adding value. However, customers may not trust that
rms will be fair in splitting the value creation pie in the
rst place. For example, Amazons test use of dynamic
pricing (dierent prices for dierent customers) was a
public relations nightmare for the company.

7 NOTES

Market leaders

The CRM market grew by 12.5 percent in 2012.[27] The

following table lists the top vendors in 20062008 and
2013 (gures in millions of US dollars) published in
Gartner studies.[28][29]

6 See also
7 Notes
[1] Shaw, Robert, Computer Aided Marketing & Selling
(1991) Butterworth Heinemann ISBN 978-0-7506-17079
[2] http://opencrm.co.uk/support.html

Trends

Many CRM vendors oer subscription-based web tools

(cloud computing) and software as a service (SaaS).
Some CRM systems are equipped with mobile capabilities, making information accessible to remote sales
sta. Salesforce.com was the rst company to provide enterprise applications through a web browser, and
has maintained its leadership position.[30] Traditional
providers have recently moved into the cloud-based market via acquisitions of smaller providers: Oracle purchased RightNow in October 2011[31] and SAP acquired
SuccessFactors in December 2011.[32]

[3] http://www.salesforce.com/uk/service-cloud/overview/
[4] http://www.microsoft.com/en-gb/dynamics/
dynamics-online-support.aspx
[5] TopTen Reviews CRM Software Review
[6] http://www.salesforce.com/uk/crm/editions-pricing.jsp
[7] http://opencrm.co.uk/plans-and-pricing.html
[8] Yun E. Zeng, H. Joseph Wen, David C. Yen, Customer
relationship management (CRM) in business-to-business
(B2B) e-commerce, Emerald 11, (2003).
[9] SAP Insider (15 November 2007) Still Struggling to Reduce Call Center Costs Without Losing Customers?

The era of the social customer[33] refers to the use of

[10] Myron, David.
DestinationCRM.com.
Inforsocial media (Twitter, Facebook, LinkedIn, Google Plus,
mation Today, Inc.
CRM in Customer Service
Pinterest, Instagram, Yelp, customer reviews in Amazon,
http://www.destinationcrm.com/Articles/ReadArticle.
etc.) by customers. CR philosophy and strategy has
aspx?ArticleID=99909 CRM in Customer Service |url=
shifted to encompass social networks and user commumissing title (help). Retrieved 15 October 2014.
nities.
[11] Davenport, T.H., Harris, J.G., Kohli, A.K. (2001), How

Sales forces also play an important role in CRM,

do they know their customers so well?", MIT Sloan Manas maximizing sales eectiveness and increasing sales
agement Review, Vol. 42 No.2, pp.63-73.
productivity is a driving force behind the adoption of
CRM. Empowering sales managers was listed as one of [12] Rebekah Henderson, B2B Insights (2013) How to build a
B2B-friendly CRM
the top 5 CRM trends in 2013.[34]
Another related development is vendor relationship management (VRM), which provide tools and services that
allow customers to manage their individual relationship
with vendors. VRM development has grown out of efforts by ProjectVRM at Harvards Berkman Center for
Internet & Society and Identity Commons' Internet Identity Workshops, as well as by a growing number of startups and established companies. VRM was the subject of
a cover story in the May 2010 issue of CRM Magazine.[35]

[13] Piskar F., Faganel A. (2009). A successful CRM Implementation Project in a Service Company: Case Study. Organizacija, Vol: 42, pp. 199-208
[14] Cloud Taxonomy CRM Software as a Service
[15] Gordon Johnston (2014) CRM for B2B: Busting the myths
(Part Two)
[16] DestinationCRM.com (2009) Who Owns the Social Customer?

In 2001, Doug Laney developed the concept and

coined the term 'Extended Relationship Management' [17] Lester, Aaron (2013-04-23). Seeking treasure from social media tracking? Follow the customer. SearchBusi(XRM).[36] Laney denes XRM as extending CRM disnessAnalytics. Retrieved 2013-10-01.
ciplines to secondary allies such as the government, press
and industry consortia.
[18] Its all about the Customer, Stupid The Importance of
Customer Centric Partners
CRM futurist Dennison DeGregor describes a shift
from 'push CRM' toward a 'customer transparency' (CT) [19] Sales and Customer ServicesCRM: Services Overview
model, due to the increased proliferation of channels, de[20] Customer-centric relationship management system develvices, and social media.[37]
opment: A generative knowledge integration perspective

Capterra, Inc. Ranked the Top CRM Software Solutions

in 2013 based on total number of customers, total number [21] CRM and customer-centric knowledge management: an
empirical research
of users and social presence.[38]

[22] Jim Dickie, CSO Insights (2006) Demystifying CRM

Adoption Rates
[23] Joachim, David. CRM tools improve access, usability.
(cover story). B to B 87, no. 3 (11 March 2002): 1
[24] David Sims, TMC.net (2007) CRM Adoption Biggest
Problem in 83 Percent of Cases
[25] Hasan, M. R., Rahman, M., And Khan, M. M. (2013).
Rural Consumers Adoption of CRM in a Developing
Country Context. International Journal of Business and
Management Invention (IJBMI), 2(9), 121-131.
[26] Nguyen, B. & Mutum, D. S. (2012). A review of customer relationship management: successes, advances, pitfalls and futures, Business Process Management Journal,
18 (3). 400-419
[27] Forbes.com (2013) 2013 CRM Market Share Update:
40% Of CRM Systems Sold Are SaaS-Based
[28] Gartner Says Worldwide Customer Relationship Management Market Grew 23 Percent in 2007 (Press release). Gartner, Inc. 12 September 2008. Retrieved
2008-08-15.
[29] Gartner Says Worldwide CRM Market Grew 12.5 Percent in 2008 (Press release). Gartner, Inc. 15 June 2009.
Retrieved 2009-10-27.
[30] Put Cloud CRM to Work PC World: April, 2010
[31] Oracle Buys Cloud-based Customer Service Company
RightNow For $1.5 Billion Techcrunch: 24 October 2011
[32] SAP Challenges Oracle With $3.4 Billion SuccessFactors
Purchase Bloomberg Businessweek: 7 December 2011
[33] Greenberg, Paul (2009). CRM at the Speed of Light (4th
ed.). McGraw Hill. p. 7.
[34] Top 5 CRM Trends for 2013. Enterprise Apps Today.
Retrieved 7 June 2013.
[35] Destinationcrm.com CRM Magazine: May, 2010
[36] The Great Enterprise Balancing Act: Extended Relationship Management (XRM), Doug Laney, META Group
publication, 10 December 2001
[37] DeGregor, Dennison (2011). Customer-Transparent Enterprise: Beyond 20th Century CRM. Motivational Press.
ISBN 1-935723-23-5.
[38] http://www.capterra.com/
customer-relationship-management-software/
#infographic

8 TEXT AND IMAGE SOURCES, CONTRIBUTORS, AND LICENSES

Text and image sources, contributors, and licenses

8.1

Text

Customer relationship management Source:

http://en.wikipedia.org/wiki/Customer%20relationship%20management?oldid=
636390547 Contributors: Matthew Woodcraft, Stephen Gilbert, Ap, -- April, Danny, Aldie, Chuq, Edward, Michael Hardy, Rp,
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Flockmeal, Gakmo, Rashack, Jason Potter, Robbot, Craig Stuntz, Schutz, ZimZalaBim, Llavigne, Ukuk, Rasmus Faber, Hadal,
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Marcok, Etz Haim, Femto, Bobo192, Sanjiv swarup, Maurreen, Jerryseinfeld, Foxandpotatoes, Notash, Jumbuck, Alansohn, Gary,
Ixnay, Arthena, Philosophistry, DrummondReed, Water Bottle, Lightdarkness, Max rspct, Mathewforyou, Versageek, HenryLi, Rzelnik,
Saxifrage, Feezo, Nuno Tavares, Boothy443, RHaworth, Carlos Porto, BluePaladin, Camw, Andrewspencer, Rwcitek, Pol098, Paul
Mackay, Sturgeonslawyer, Isnow, Kingsleyj, Tarpenbek, Mandarax, Graham87, Yurik, Jclemens, Mendaliv, Chicoman98, Crmguru, Josh
Parris, Ryan Norton, Crzrussian, Rjwilmsi, AlexHorovitz, Sdornan, Phatstack, Vegaswikian, Sleepyhead81, GregAsche, Sheldonc, FlaBot,
Winterstein, Jcheney, Old Moonraker, Ausinha, Kmorozov, RexNL, TheDJ, AndriuZ, NavarroJ, Ahunt, Imnotminkus, CStyle, Jonawebb,
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8.2

8.2

Images

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8.3

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