Emerging Trends In Customer Relationship Management

Uses of CRM

In its broadest sense, CRM covers all interaction and business with customers. A good CRM program allows a business to acquire customers, provide customer services and retain valued customers.

Customer services can be improved by:

Providing online access to product information and technical assistance around the clock

Identifying what customers value and devising appropriate service strategies for each customer

Providing mechanisms for managing and scheduling follow-up sales calls

Tracking all contacts with a customer

Identifying potential problems before they occur

Providing a user-friendly mechanism for registering customer complaints

Providing a mechanism for handling problems and complaints

Providing a mechanism for correcting service deficiencies

Storing customer interests in order to target customers selectively

Providing mechanisms for managing and scheduling maintenance, repair, and on-going support.
The primary business driver of message-based middleware solutions in the Customer Relationship Management, the business of customer acquisition, customer development and customer retention:

CRM is, probably, one of the least clearly defined business acronyms, as there is no single definition for it. It is probably easier to say what CRM is not. Unfortunately, CRM has also become a misnomer for a range of solutions from vendors, each providing its own spin on the idea. CRM is variously misunderstood as a fancy sales strategy. It is none of these. CRM is a simple philosophy that places the customer at the heart of a business organizations processes, activities and culture to improve his satisfaction of service and, in turn, maximize the profits for the organization.

A successful CRM strategy aims at understanding the needs of the customer and integrating them with the organizations strategy, people, technology and business process. Therefore, one of the best ways of launching a CRM initiative is to start with what the organization is doing now and working out what should be done to improve its interface with its customers. Then While this may sound quite straightforward, for large organisations it can be a mammoth task unless a gradual step-by-step process is adopted. It does not happen simply by buying the software and installing it. For CRM to be truly effective, it requires a well-thought-out initiative involving strategy, people, technology, and processes. Above all, it requires the realisation that the CRM philosophy of doing business should be adopted incrementally with an iterative approach to learn at every stage of development.

CONCULSION

Customer relationship management as an integral part of the overall business strategy. Customer relationship management is a complex process because it raises the host of challenging business issues that lie at the interface of all over the business. Thus, in this era of increased competition, in order to proper, it has now become imperative for the industry to focus on developing long-term relationships with their customers. CRM impacts that business path is a continuing source of debate in the world of corporate management.

About the author :

Dr. P. Chellasamy

Dr.P.Chellasamy did his Ph.D (2001) and M.Phil (1997) from the Department of Commerce, Madurai Kamaraj University, Madurai. After completion of M.Com.(1995) and B.Com(1992) in Madurai Kamaraj University. He is having around 7 years experience in Teaching. He was specialization in Financial Management, Financial Accounting, Marketing, Banking, Cost Accounting, and Tally.

Dr.P.Chellasamy is presently worked in Lecturer in Department of Commerce, Bharathiar University, Coimbatore. He has published 5 publications in reputed national journals and presented 36 papers in various national and international conferences. He also writes a book in the Name of MODERN BANKING it will publish earlier. Waiting Approval for UGC Project in Major and Minor.

N.Sumathi

N.Sumathi did her M.Com (2005) in Department of Commerce, Arulmigu Palaniandavar Arts College for Women, Palani, (Mother Teresa Womens University, Kodaikannal). At present she is doing M.Phil in the Department of Commerce, Bharathiar University, Coimbatore. She published one paper in reputed National Journal and Presented Seven Seminar paper in various National and International conferences.