Customer

Relationship
Management
ASSIGNMENT

SUBMITTED BY
VISHAL SINGH JASWAL
MBA 4TH SEM

WHAT ARE BENFITS OF CUSTOMER REALTIONSHIP

MANAGEMENT FOR A BUSINESS?
Customer relationship management (CRM) is a system for managing a
company's interactions with current and future customers. It often involves using
technology to organize, automate and synchronize sales, marketing, customer
service, and technical support.
Customer relationship management (CRM) is a term that refers to practices,
strategies and technologies that companies use to manage and analyze customer
interactions and data throughout the customer lifecycle, with the goal of improving
business relationships with customers, assisting in customer retention and driving
sales growth. CRM systems are designed to compile information on customers
across different channels -- or points of contact between the customer and the
company -- which could include the company's website, telephone, live chat, direct
mail, marketing materials and social media. CRM systems can also give customerfacing staff detailed information on customers' personal information, purchase
history, buying preferences and concerns.
Professionally implemented CRM applications offer many benefits for sales,
marketing, service and other teams.
Here are 19 examples to highlight how a professionally implemented CRM system
helps organizations prosper:
1. Management decision making is nimble and well informed supported by
real-time reporting across all business teams.
2. Staff manages their time more effectively. CRM prompts users to follow
up on activities and sends automated alerts when important actions occur.
3. Marketing activity brings higher quality leads through continually
improving contact segmentation and targeted campaigns.
4. Pipeline reports are trusted and used as the basis for reliable sales and
production forecasts to increase efficiency and predictably manage cash flow.
5. Performance hotspots are quickly identified so timely action can be
taken to correct issues and reward outstanding results.

6. The value of each customer relationship is understood so service

resources can be prioritized to protect the most profitable accounts.
7. Workflow automation replaces repetitive manual processes to cut
admin work and eliminate duplication so teams can focus on profitable
activity.
8. Customer churn is minimal as CRM users have access to all the
relationship detail they need through multiple channels to engage with clients
and deliver great service.
9. Communication is strength. Shared diaries, team calendars and service
schedules give everyone clear visibility of individual activities.
10.CRM connects to accounting and other back-office applications to join up
processes and remove double handling of tasks.
11.Users can instantly check customer order histories to assess buying
patterns and identify new sales opportunities.
12.Email marketing actions are reported in CRM so hot prospects can be
immediately identified and routed to sales teams for further action.
13.Mobile and remote staff works productively with reliable access to all
the customer and activity information they need via their mobile device.
14.Important business processes are aligned in one system. In addition to
customers, sales & service process CRM adapts to manage other diverse
items like contracts, projects, events, products, applications & property.
15.Positive team culture has developed as staff share information and gains
a better understanding of other areas in the company.
16.Sales cycles are reduced and win rates improved as teams have clear
visibility of which prospects are most likely to close.

17.Customer data is protected and centrally managed. Teams are granted

access to data at levels that are consistent with their role.
18.Training costs are reduced by equipping new users with tools they are
already familiar with and applying workflow driven processes to guide them
and enforce your proven rules and methodology.
19.Increased lead generation from highly personalized marketing
communications and customer lists that apply complete relationship and
behavior detail stored in in CRM.