CRM refers to Customer Relationship Management. It pertains to all the aspects of interaction that a business has with its customers, whether it is sales or service-related. Various systems and strategies are used to manage business to customer (B2C) and business to business (B2B) relationships.
History Of CRM
Database marketing, a term used to describe the practice of setting up customer service groups to connect individually to all of a company’s customers, saw its emergence in the 1980s. It was primarily composed of an organization’s customer service staff interacting with an organization’s clients or customers. It was a helpful system, but it did not have a unified process. People would also find the information on the database unorganized, hard to track, update and retrieve.
In the 1990s, great improvements in CRM were introduced. CRM became more of a two-way street. In addition to gathering data for their own use, companies also started to see the benefits of offering incentives to current customers and potential ones in exchange for relevant information or for repeat purchases. Many companies also began to consider customer service as a continuously evolving skill instead of a stagnant service to be selected and used whenever it was needed.
Currently, CRM is enjoying its full potential and is helping businesses capitalize on their own capabilities so that they can achieve superior customer service. A lot of advanced tools are made available and consistent innovation allows various types of software to be customized to fit a specific business or industry.
Info source: www.gronteq.com
History Of CRM
Database marketing, a term used to describe the practice of setting up customer service groups to connect individually to all of a company’s customers, saw its emergence in the 1980s. It was primarily composed of an organization’s customer service staff interacting with an organization’s clients or customers. It was a helpful system, but it did not have a unified process. People would also find the information on the database unorganized, hard to track, update and retrieve.
In the 1990s, great improvements in CRM were introduced. CRM became more of a two-way street. In addition to gathering data for their own use, companies also started to see the benefits of offering incentives to current customers and potential ones in exchange for relevant information or for repeat purchases. Many companies also began to consider customer service as a continuously evolving skill instead of a stagnant service to be selected and used whenever it was needed.
Currently, CRM is enjoying its full potential and is helping businesses capitalize on their own capabilities so that they can achieve superior customer service. A lot of advanced tools are made available and consistent innovation allows various types of software to be customized to fit a specific business or industry.
Info source: www.gronteq.com
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