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Managing Your Customers

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Is Customer Relationship Management a genuine business tool, or is it just another fad? We investigate whether CRM really can benefit your business

Article from Internet Works

From time to time, a new acronym promises to transform the way we do business. People become evangelical about it, and computer companies make huge piles of money. The latest such acronym is CRM, or Customer Relationship Management. If you believe the pundits, CRM can revolutionise the way you do business by improving customer contact, loyalty and your bottom line.

CRM is based on a simple idea: it’s cheaper to get repeat business than it is to try to attract new customers. By analysing customer information and ensuring that information is available to the right people at the right time, sales opportunities are maximised and problems minimised. According to recent research, businesses can increase online sales by up to 64 per cent. The report ‘Profit or Pain from Your User Experience’, from e-CRM analysts the Hewson Group, eDigitalResearch.com and Landmark Consulting, claims that businesses are “leaking customers at every point in the buying cycle”. CRM is designed to stop those leaks.

Full text of article is available on http://www.iwks.com/

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