Customer Relationship Management

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Customer relationship management

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

Types/variations
Sales force automation
Sales force automation (SFA) uses software to streamline the sales process. The core of SFA is a contact management system for tracking and recording every stage in the sales process for each prospective client, from initial contact to final disposition. Many SFA applications also include insights into opportunities, territories, sales forecasts and work flow automation.[citation needed]

Marketing
CRM systems for marketing track and measure campaigns over multiple channels, such as email, search, social media, telephone and direct mail. These systems track clicks, responses, leads and deals.

Customer service and support
CRMs can be used to create, assign and manage requests made by customers, such as call center software which help direct customers to agents.[2] CRM software can also be used to identify and reward loyal customers over a period of time.

Appointments
Appointment CRMs automatically provide suitable appointment times to customers via e-mail or the web, which are then synchronized with the representative or agent's calendar.[citation needed]

Small business
For small businesses a CRM may simply consist of a contact manager system which integrates emails, documents, jobs, faxes, and scheduling for individual accounts.[citation needed] CRMs available for specific markets for professional markets (legal, finance) are frequently touted for their event management and relationship tracking opposed to financial return on investment (ROI).

Social media
Some CRMs coordinate with social media sites like Twitter, LinkedIn, Facebook and Google Plus to track and communicate with customers who share opinions and experiences about their company, products and services.[3]

Non-profit and membership-based
Systems for non-profit and membership-based organizations help track constituents, fund-raising, demographics, membership levels, membership directories, volunteering and communications with individuals.[citation needed]

Adoption Issues
In 2003, a Gartner report estimated that more than $1 billion had been spent on software that was not being used. According to KEN Insights, less than 40 percent of 1,275 participating companies had end-user adoption rates above

Customer relationship management 90 percent.[4] Many corporations only use CRM systems on a partial or fragmented basis.[5] [citation needed] In a 2007 survey from the UK, four-fifths of senior executives reported that their biggest challenge is getting their staff to use the systems they had installed. 43 percent of respondents said they use less than half the functionality of their existing system.[6][citation needed]

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Market Leaders
The CRM market grew by 12.5 percent in 2008, from revenue of $8.13 billion in 2007 to $9.15 billion in 2008.[7] The following table lists the top vendors in 2006–2008 (figures in millions of US dollars) published in Gartner studies.[8][9]
Vendor SAP AG Oracle Salesforce.com 2008 Revenue 2008 Share (%) 2007 Revenue 2007 Share (%) 2006 Revenue 2006 Share (%) 2,055 1,475 965 22.5 (−2.8) 16.1 10.6 6.4 4.9 39.6 100 2,050.8 1,319.8 676.5 332.1 421.0 3,289.1 8,089.3 25.3 16.3 8.3 4.1 5.2 40.6 100 1,681.7 1,016.8 451.7 176.1 365.9 2,881.6 6,573.8 25.6 15.5 6.9 2.7 5.6 43.8 100

Microsoft CRM 581 Amdocs Others Total 451 3,620 9,147

Trends
Many CRM vendors offer 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 staff.[citation needed] Salesforce.com was the first company to provide enterprise applications through a web browser, and has maintained its leadership position.[10][11] Traditional providers have recently moved into the cloud-based market via acquisitions of smaller providers: Oracle purchased RightNow in October 2011[12] and SAP acquired SuccessFactors in December 2011.[13] The era of the "social customer"[14] refers to the use of social media (Twitter, Facebook, LinkedIn, Google Plus, Yelp, customer reviews in Amazon, etc.) by customers. CRM philosophy and strategy has shifted to encompass social networks and user communities. Another related development is vendor relationship management, or VRM which provide tools and services for customers to independently manage their relationship with vendors. VRM development has grown out of efforts by ProjectVRM at Harvard's 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.[15] In 2001 Doug Laney developed the concept and coined the term 'Extended Relationship Management' (XRM).[16] Laney defines XRM as extending CRM disciplines to secondary allies such as government, press, and industry consortia. CRM futurist Dennison DeGregor describes a shift from 'push CRM' toward a 'customer transparency' (CT) model, due to the increased proliferation of channels, devices, and social media.[17]

Customer relationship management

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Notes
[1] Shaw, Robert, Computer Aided Marketing & Selling (1991) Butterworth Heinemann ISBN 978-0-7506-1707-9 [2] SAP Insider (15 November 2007) Still Struggling to Reduce Call Center Costs Without Losing Customers? (http:/ / www. sdn. sap. com/ irj/ scn/ go/ portal/ prtroot/ docs/ library/ uuid/ e044e180-8375-2a10-a2b2-b5709ea68ccb) [3] DestinationCRM.com (2009) Who Owns the Social Customer? (http:/ / www. destinationcrm. com/ Articles/ Editorial/ Magazine-Features/ Who-Owns-the-Social-Customer-54028. aspx) [4] Jim Dickie, CSO Insights (2006) Demystifying CRM Adoption Rates (http:/ / www. destinationcrm. com/ Articles/ Columns-Departments/ Reality-Check/ Demystifying-CRM-Adoption-Rates-42496. aspx) [5] Joachim, David. "CRM tools improve access, usability." (cover story). B to B 87, no. 3 (March 11, 2002): 1 [6] David Sims, TMC.net (2007) CRM Adoption ‘Biggest Problem’ in 83 Percent of Cases (http:/ / blog. tmcnet. com/ telecom-crm/ 2007/ 11/ 30/ crm-adoption-biggest-problem-in-83-percent-of-cases-wigan-gets-crm-tre. asp) [7] DestinationCRM.com (2009) CRM Market Grows for Fifth Straight Year (http:/ / www. destinationcrm. com/ Articles/ CRM-News/ Daily-News/ CRM-Market-Grows-for-Fifth-Straight-Year-55275. aspx) [10] history of cloud computing (http:/ / www. computerweekly. com/ feature/ A-history-of-cloud-computing|title=A) Computer Weekly: March 2009 [11] Cloud CRM to Work (http:/ / www. pcworld. com/ businesscenter/ article/ 193463/ put_cloud_crm_to_work. html|title=Put) PC World: April, 2010 [12] Buys Cloud-based Customer Service Company RightNow For $1.5 Billion (http:/ / techcrunch. com/ 2011/ 10/ 24/ oracle-buys-cloud-based-customer-service-company-rightnow-for-1-5-billion/ |title=Oracle) Techcrunch: October 24, 2011 [13] Challenges Oracle With $3.4 Billion SuccessFactors Purchase (http:/ / www. businessweek. com/ news/ 2011-12-07/ sap-challenges-oracle-with-3-4-billion-successfactors-purchase. html|title=SAP) Bloomberg Businessweek: December 07, 2011 [15] Destinationcrm.com (http:/ / www. destinationcrm. com/ Issue/ 1776-May-2010. htm) CRM Magazine: May, 2010 [16] (http:/ / blogs. gartner. com/ doug-laney/ files/ 2012/ 02/ ad1074-The-Great-Enterprise-Balancing-Act-Extended-Relationship-Management-XRM. pdf) The Great Enterprise Balancing Act: Extended Relationship Management (XRM), Doug Laney, META Group publication, December 10, 2001

Article Sources and Contributors

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Article Sources and Contributors
Customer relationship management  Source: http://en.wikipedia.org/w/index.php?oldid=554869040  Contributors: -- April, 12mst, 2001:980:D949:1:ECE7:DB02:8CB6:8DEA, 212.153.190.xxx, 24hrcs, 2602:306:C490:2A70:A5F9:B782:C80B:9429, A papalexandris, A. B., AAAAA, Aardvark92, Acdx, Achopra01, Acssm, Adityafastguy, AdnanHasan, Ahoerstemeier, Aiam83, Akkida, Alansohn, Aldie, AlexHorovitz, Alfio, Alpha0, Altesys, Alwaysshrek, Ambrish.shrivastava, Amytling, Anakin101, Andrewspencer, AndriuZ, Andy Marchbanks, Andycjp, Ankitcktd, Anuragdby1, Anwar saadat, Ap, Apparition11, Argon233, Armoreno10, Arthena, Arthurrohan, Asbestos, Asfarhuda, Asocall, AtticusX, Ausinha, Avoided, Azangela01, Azuris, B2B user, Bala2442, Bansipatel, Bavinothkumar, Bazzer palm, Beetstra, Benhaygood, Bevo, Bharatcit, Bhny, Blankslate8, Blondinrikard, BluePaladin, Bmusician, Bobet, Bobo192, Bonadea, Boothy443, Bostoys, Brianlucas, Brianoflan, BrightOffice, Bucketsofg, CB, CBM, CStyle, Calabe1992, Caliga10, Callanecc, Calltech, Cameron Dewe, Camw, Can't sleep, clown will eat me, CanadianLinuxUser, Carabinieri, Carlos Porto, Carnifexus, Ccsu student, Cfoxmail, Chanj68, Channasilva2000, Chaojoker, Charuhas100, Ched, Chenzw, Chicoman98, Chris the speller, ChrisGualtieri, Chuq, ClamDip, Click23, CliffC, Climent Sostres, Closedmouth, Coastergeekperson04, Codeferret, Colonies Chris, Comboapp, CommodiCast, Conversion script, Covati, Craig Stuntz, Craigb81, Creabiz, Crmguru, Crocodile Punter, Crysb, Crzrussian, Csagum, Csalomonlee, Cst17, Cummingsbu, Curema, CyrillicNews, DARTH SIDIOUS 2, DaCropduster, Dainis, Danny, Dave6, Davejohnsan, David Esrati, David Shay, Davidjhp, Debasishnayak92, Deli nk, DerHexer, Dialectric, Discospinster, Dmsar, Don4of4, Dot back, DougsTech, Draegermeister, DrummondReed, Dsearls, Dtgriffith, Duncanlauder, Dvdpwiki, Dylan Lake, Dyohe, E. Ripley, EWoc, Ecmalthouse, Edcolins, Edubbs, Edward, Edward Vielmetti, Egyptianholiday, Eholmen, Ehsant, Ejb7, Eleannah, EmadIV, Emreturca, Epbr123, EricEnfermero, Escpg4, Estherschindler, Ethansdad, Ethoslight, Etnies119, Etz Haim, Evercat, ExperientalMarketer, Expertseries, Eyesnore, Fairsing, Fbooth, Fedorl, Feezo, FelipeVargasRigo, Femto, Fieldday-sunday, Flewis, Flockmeal, Foxandpotatoes, Fraggle81, Freek Verkerk, Frontlinessm, Furrever, Fvw, Gadfium, Gail, Gakmo, Gareth Griffith-Jones, Gary King, Gawaxay, Geoffmcqueen, Gilliam, Gioto, Glattetre, GollyG, Gpowers, GregAsche, Gronky, Ground, Gschaeffer, GuyRo, Gwernol, Gwolfe28, Gz33, Gökhan, HJ Mitchell, Hadal, Hairhorn, Hans Joseph Solbrig, Harland1, Hede2000, HenryLi, Hmains, Hollomis, Hu12, Hubris67, Husond, Hv, IGGy14, Iahklu, Iamrichdad, Ibbn, Ida Shaw, Idea Farm, Ihcoyc, Ilovshuz, IncognitoErgoSum, Ingrid christophersen SQS, Intelligentfool, Invenio, Ireas, Isaac.holeman, Isjoyce, Isnow, Itsjustmee, Iulia zamfir, IvanLanin, Ixnay, J.delanoy, Jadams0710, Jahub, Jamelan, James Arthur Reed, James086, James7862, Jan1nad, Jarble, Jarda-wien, Jasenlee, Jason Potter, Jasonrhub, Jay, Jcheney, Jclemens, Jcruez, Jeff G., JeffJonez, Jellyware, Jerryseinfeld, Jgritz, Jigargpandya, Jim1138, JimR, Jjamain, Jjoseph, Jncraton, Joe Sewell, Johann Wolfgang, Johndci, Jon Awbrey, JonHarder, Jonawebb, Jose Luis Cirelli, Josve05a, Jprenner, Jsmithy 2007, Justoglez, Jyothish78, JzG, Kanonkas, Katherine, Kellend, Kerotan, Kevin, Khawar.nehal, KickahaOta, Kimberry352, Kimon, Kingsleyj, Kirstieriley, Kkilian72, Kku, Klausness, Kledsky, Kmorozov, Komusou, Koufnac, Krisdickie, Kuru, Kurykh, Kvan1st, L Kensington, Lallenpoole, Lambchop44, Laurelwilliams, Laxmanyadavb, Lazyant, Ldworski, Lennartgoosens, Lightdarkness, Lights, Linkspamremover, LittleOldMe, Llavigne, Llort, Lotje, Lroomberg, Luk, Lycurgus, Lyuben88, MLFungwiki, Madlaxy, Mahdian, Mahdibadiee, Makrom, Mandarax, ManuDR, Maokart444, Marcok, Marcomman, Mark Arsten, Mark Renier, Markinetic, Martin.demierre, Martin451, Materialscientist, Mathewforyou, Matthew Woodcraft, Maurreen, Mavens08, Max rspct, Maximross, Mdtranhcm, Mekashron, Melissa2009, Mendaliv, Mendicott, Metricopolus, Michael Devore, Michael Hardy, MichaelJanich, Michig, Miltopia, Misteja, Mitch31122, Mkiaeeha, Mlfung, Mogism, Mohamedbebars, More2Come, Mormat, Morninj, Moshe.segev, Moyogo, MrOllie, Mschramm, Mtinker86, Mudgen, My76Strat, Mydogategodshat, Nandssiib, Naniwako, Nascentatheist, Nasnema, NavarroJ, Neilcrookes, NellieBly, Neophyteblogger, Nepenthes, NetManage, Netoholic, Netvisionary, Neurolysis, NewGuy5342, Nick, Nick Precision, Nicos interests, Nigholith, Ninc, Nivektrah, Nn123645, NodeHeavy, NortyNort, Notafish, Nov0261, Numbo3, Nuno Tavares, Nunquam Dormio, Odie5533, Ohnoitsjamie, Old Moonraker, Omwebgen, Onebravemonkey, OverlordQ, Ozgod, Pambas, Pandoraholic, Paolovecchi, Paul Legend, Paul Mackay, Paul Tomlinson, Paulkappelle, PeregrinoGris, Perohanych, PeterJ42, Petit 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Usman, Zavila, ZimZalaBim, Zouf, Ztyx, Zzuuzz, Žiedas, 2035 anonymous edits

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