Abstract This paper discusses customerrelationship management (CRM) across industry in general. The historical development within the call center environment is first examined and then its adoption by other industries in order to capitalize more effectively on customer data is examined. The paper concludes that data and data management is increasingly at the core of CRM functionality.
Table of Contents:
Executive Summary
Overview
High-Level Description
Business Strategies
Users of the Systems
Detailed Description
Applications
Success
Failure
Conclusion
From the Paper "The consumers of CRM applications and technology are primarily larger firms with more than 500 employees and typically operating in more than one market. The popularity and ease of installation of many lesser known CRM applications has meant that almost any firm of any size can install and apply CRM to one degree or another with the only primary difference between them and larger companies being the degree of integration achieved across platforms and across the organization."
Tags:customization applications functionalities, call center, data mining
Abstract This paper aims to answer the questions surrounding the use of CustomerRelationship Management (CRM) in Small and Mid-size Enterprises (SMEs). This paper examines the business case, issues, pitfalls, and recommendations for future success. This study focuses CRM in the United Kingdom's SMEs, particularly those in the manufacturing industry, from both a business and consumer point of view. The literature on relationship marketing, customerrelationship management, customer loyalty, and customer satisfaction sets the framework for this evaluation. Primary research conducted with small and medium-size manufacturers and vendors undertaken in supports the in-depth evaluation of this topic.
From the Paper "Customers today have more options and higher expectations. Their loyalty is more fragile and if they are not treated the way they deserve to be treated (they now consider fair, honest and respectful treatment as a right and not a privilege) they go somewhere else. There is so much information, choice, and change that it is hard to get their attention. The web, email and other electronic channels (e.g. call centers) have made it a much easier for customers to get information that was very scarce just a few years ago. This has made the customer better informed, more discriminating and more powerful."
Abstract The paper considers the viewpoint that customerrelationship management (CRM) systems are too expensive to implement and cannot provide solutions to customer problems. The paper, however, focuses on companies who use CRM systems very effectively and discusses how CRM systems allow companies to anticipate customers' behaviors, implement technologies in the company ,and maintain good relationships between customers and suppliers. The paper is of the opinion that the CRM system can produce genuine value by meeting the requirements of the system and enhancing the relationships between consumers and vendors.
From the Paper "Each business organization depends on an understanding between customers and suppliers, which creates and maintains customer satisfaction. In addition, all business suppliers communicate with their customers in different ways using different technologies. This affects one company's ability to be more successful than another company. Web and computer technologies today enhance a company's ability to maintain customer satisfaction and develop good relationships with its customers to be effective in their businesses (Jessup & Valacich 2008, 329). Jessup and Valacich (2008, 329) define Customer Relationships Management (CRM) as the strategic plan of information, processes, procedures and technology to manage the customer's relationships with the suppliers. CRM can be classified into three main levels according to Buttle (2004, 4-5, 9): these are Strategic CRM, Operational CRM and Analytical CRM."
Abstract The paper focuses on the declining trend in its customer satisfaction metrics within Wal-Mart's retail locations. The paper examines how a customerrelationship management (CRM) initiative can reverse this. The paper shows how, for Wal-Mart, its CRM strategy must be anchored with an emphasis on personnel driven CRM solutions within the store, since its IT infrastructure and related CRM technology platforms are already industry leading applications. The paper explains how Wal-Mart can create a personal relationship with its customers and the closest retail location to those customers.
Outline:
Overview
CRM in Detail
An Example of CRM at Work
CRM's E-Commerce Solutions
Emergent Models
Conclusion
From the Paper "CRM strategies have been in existence since commerce became a human endeavour and companies have historically always sought to satisfy their customers. Often an organization's CRM strategy is nothing more than a business owner's attempt to build a relationship with the organization's customers and this aspect still rests with executive leadership today (De Koning & Maravanyika). However, in the contemporary retail business environment CRM has been appropriated by IT applications and products designed to automate CRM efforts. Companies are rushing to automate and better manage their methods in which they have traditionally dealt with customers, including people who might not be considered customers yet, as well as develop completely new concepts in managing the customer from a service perspective. CRM applications incorporate the business functions of marketing materials, developing and maintaining customer histories, and coordinating a company's multi-faceted approach to interactions with customers."
Abstract This paper examines how a customer is certainly the most important asset of any organization or a business venture that depends on sales and repeat sales. It shows how the basic purpose of every business is. not only to generate. but hunt down ways to maximize profits and how sales performance is one such area that comes under strict scrutiny. It looks at how organizations big and small are always on the look out for the right tools and techniques for drafting the most suitable customerrelationship programs as one way of improving sales performance. Through a literature review, it analyzes the link between the customerrelationship programs and sales performance.
From the Paper "Nonetheless, to date the concept of as well as the relationship between customer relationship programs and sales performance does not yield general agreement. According to Keefe (2001, p. 4), "some CRM experts argue that there is little consensus about what CRM actually is, or how to best execute or measure it". Proving her assertion, Keefe, in one of her research articles "reports on an interview with Heidi Wisbach, manager of CRM Analytics in the New York office of Cap Gemini Ernst & Young, who specialize in CRM initiatives in the manufacturing, hospitality, financial services and telecommunications industries" (Keefe, 2001, p.4). Wisbach is one of the designers of the Customer Relations Managment Index, the function of which is to assist companies in gauging the degree "to which they use actual CRM techniques and to compare their standing against competitors" (Keefe, 2001, p.4)."
This paper explores whether the current profile of customerrelationship management (CRM) deployment across industry has been effective and what, if any, future relevance CRM will have in these industries.
Abstract This paper explains that customerrelationship management CRM allows organizations to develop a closer relationship with customers and to monetize the data and information, which would normally lay dormant within untouched massive databases. The author points out that CRM has become a business differentiator and especially has become relevant for e-commerce applications that find a ready infrastructure in which to be integrated. The paper suggests that the single most prevalent reason for the failure of CRM to deliver on expected returns is an organization that focuses too much on the data analysis function and loses sight of the actual customer transactions that are the most important part of the business process.
Table of Contents:
Research Hypothesis
Introduction
Technology Background
Historical
Technology
How It Functions
Suppliers
Consumers
Application of the Technology
Organizational Use
Applications
Strengths
Weaknesses
Success
Failure
Future Trends
The Future
Forces of Change
Conclusions
From the Paper "Retail banking has taken a leading role in deploying e-commerce and e-business functionality in relation to its CRM initiatives. On-line banking has become a fact of life and hardly any commercial and consumer banking institution would consider going to market without these services integrated into its CRM portfolio." . Retail banking institutions have mastered the art of on-line bill paying, transfers, deposits, and account management to the degree that many customers simply do not feel the need or the desire to visit the bank."
Abstract This paper argues that customerrelationship management (CRM) is not something to be taken lightly; in other words, it is an efficacious means of prioritizing customers and in developing insight into new prospects. With this in mind, this paper looks at the history of CRM, what it entails, the sorts of applications it can be used for, what its strengths and weaknesses are, and - every bit as importantly - what the future holds out for this relatively new business innovation. As an addendum, it provides an insight into how the relationship between customers and businesses has evolved even in the last generation as the public becomes more educated and as consumers become more discerning and demanding.
Outline:
Executive Summary
Introduction
Explanation of Technology
Historical Background
The Technology
How the Technology Works
Suppliers of Technology
Consumers of Technology
Application of Technology
How the Technology is used in Organizations Today
What are the Technology's Applications
Strengths of the Technology
Weaknesses and Costs of the Technology
Success Story
A Failure
Future Trends
The Future
Forces for Change
Conclusion
From the Paper "There are a host of technologies commonly associated with CRM and a paper of this size cannot do justice to all of them. However, the internet (specifically "cookies" and online interactive forms which capture information on customers), WAP phones, help-desk software, e-mail "organizers" and web development applications all constitute elements of modern-day Customer Relationship Management technology ("CRM," n.d.). As an additional point, much of the software now made available to businesses eager to employ CRM technology have highly-advanced functionality, integrative qualities, and "point-and-click" customization (Salesforce.com, Inc., para.1; for examples on how CRM technology can be used to optimize pricing levels, please see Lewis, 2005)."
Abstract The paper relates that the Apple Company has implemented some features of customerrelationship management (CRM), but they still encounter difficulties in properly and adequately communicating with customers. The paper looks at how the implementation of interactive marketing procedures has supported the Dell, Hewlett-Packard and Sony companies in further developing and improving their customerrelationships. The paper examines the features and problems of CRM at Apple Inc. and provides recommendations for practice for the next six months, one year and three years.
Outline:
Executive Summary
Interactive Marketing
CRM at Apple Inc.
Recommendations for Practice
From the Paper "The Interactive Marketing represents a wide set of strategies to be implemented in order to increase the amount of information about a company's customers, in order to use this information to the benefit of the company (better satisfy the needs of customers and implicitly increase the company's profits). A most common practical application of Interactive Marketing is revealed by the Customer Relationship Management, yet another tool used to gather information and offer information to and from clients."
Abstract This paper discusses the CRM system produced by Oracle and how it can help every company with their customer service problems. It examines the ideal CRM architecture and how Oracle provides it. It details the basic features and products provided by Oracle's products. It also discusses the integration of Enterprise Resource Planning systems and CustomerRelationship Management systems. It concludes by recommending Oracle's 360 degree solution to any company whose customers are important.
From the Paper "As companies accelerate their customer relationship management initiatives they are faced with new issues and challenges that are not easily answered. Customer relationship management presents one of the biggest opportunities facing CIO's and business line managers today - the ability to grow incremental revenue through existing customers. This requires a system that fully leverages ERP in the back end. Oracle's integrated architecture provides an ideal CRM solution for the large installed base of customers who have already implemented Oracle ERP applications. Oracle's customer relationship management applications leverage Oracle database, tools and integration with back-end ERP applications to provide comprehensive customer intelligence. The integrated solution provides a 360-degree view of all customer interactions, whether they occur through direct sales contact, and customer access over the web, through a call center or indirectly through partner channels."
Abstract This paper aims to define those areas where customerrelationship management (CRM) and marketing are interconnected. It begins by defining CRM, in general and looking at how it has developed within organizations over time. The paper then specifically looks at cases of specific strategies that are dependent on each other for results.
Table of Contents:
Executive Summary
The Rapidly Changing CRM Landscape
Defining CRM
CRM's Impact on Marketing: Fuel for Attracting, Selling and Serving Customers Summary
From the Paper "One of the most challenging areas of how companies are integrating CRM and marketing strategies is channel management, specifically Partner Relationship Management (PRM). This is the application of CRM strategies, tools, and techniques to the indirect channels that companies rely on for revenue. These are the distributors and dealers that companies sell their products through. To keep distributors and dealers selling their products, companies are using CRM systems to first understand the many priorities of their channels and second, to build loyalty with their distribution channel partners. Foremost in these efforts around PRM is lead generation and escalation, which is the generating, tracking and distributing of sales opportunities throughout distribution channels. In a critically acclaimed body of research, (Columbus 2003) claims that lead generation and escalation is critical for the long-term functioning of any channel management initiative. In his research, Columbus claims that Microsoft was able to increase sales by 30% throughout France using lead management and escalation for their mid-market ERP applications."
Abstract This paper looks at how shifts in consumer behavior are frequently perceived to be inexplicable to marketers, who scratch their collective heads and wonder what can be done to improve or even salvage existing market share. It attempts to identify what part brand loyalty plays in an effective customer relations management strategy and to determine what businesses can do to maximize this feature in maintaining existing and achieving additional market share through their existing or improved customerrelationship management (CRM) strategies.
From the Paper "During the late 1980's it was observed that many consumer products firms have followed the strategy of producing multiple brands which compete in the same product category. This strategy is perhaps best exemplified by the brand management philosophy of package goods firms such as Procter & Gamble, widely regarded as the pioneer of this strategy (Schiller 1988). The underlying rationale with this approach was that it is better for a consumer to choose between several of a company's own products than to choose between those of other firms. The multi-brand strategy demonstrates that multinational corporations often conceal the manufacturers of their products or the name of their core brand while entering the market with multi brands or sub-brands."
Abstract The following research examines the customerrelationship management (CRM) software environment vis-a-vis the airline industry and in particular British Airways (BA). After a brief recap of the airline industry currently and the history of the airlines general migration to CRM applications as a response to market events such as 9/11, a particular CRM related solution is proposed that can be integrated into current technologies.The paper examines the development of an individualized customer media center that incorporates many of the extant functional technologies into a customizable web-space that each consumer is awarded after a certain amount of frequent flier miles.
Abstract This paper aims to decide on the best software to use for a customerrelationship management (CRM) program. It first looks at the benefits and uses of a CRM program. It then examines and judges the software that is offered by various companies. After considering various systems, the paper concludes that the Dashboard Customer Service and CRM system from Iventa is seen as the best for a particular size company.
From the Paper "Kopf (2000) notes how CRM can fail when a company believes that it can serve customers more effectively but does not have the tools, the skills, and the expertise to make a CRM system work. Failure may come with inadequate staffing, poor site location, or the wrong technology. In addition, there is often confusion surrounding CRM so that many companies are reluctant to take the steps necessary."
"Jones (2000) cites a successful implementation and notes that customer service can be assured and give a company a competitive advantage, noting above all that customers "want the feeling that the organization considers their business to be important, essential, and vital to its operation" (Jones, 2000, p. 26), with CRM a way to assure that this idea is pursued."
Abstract The paper defines those areas where CRM and marketing are interconnected and, in the case of specific strategies, dependent on each other for results. The paper defines CRM as the infrastructure that enables the delineation of and increase in customer value, and the correct means by which to motivate valuable customers to remain loyal and purchase again. The paper concludes that the integration of CRM data and marketing strategies is critical to the success of a company's marketing, selling and overall growth opportunities.
Outline:
Executive Summary
Defining CRM
CRM's Impact on Marketing
Summary
From the Paper "What had begun as a series of applications aimed at capturing customer information has transformed into a series of strategies for attracting, selling, and serving customers. This transformation of CRM has been directly attributable to the change in which members of organizations are acquiring the software. When CRM was first created IT Departments were the first customers, and the key success criteria of IT are quite different than line-of-business executives who have profit-and-loss responsibilities for their companies. These line-of-business executives have transformed CRM from a series of applications to a series of strategies supported by applications, and this is a critical point in the evolution of this area overall."
Abstract The paper studies the interaction between customerrelationship management (CRM) and marketing, with a strong emphasis on CRM's definition through extensive information sources research. The paper defines those areas where CRM and marketing are interconnected and, in the case of specific strategies, dependent on each other for results. The paper concludes that the combination of CRM and marketing is an excellent catalyst for learning more about how business strategies and processes are supported by information technologies, especially in promotional, selling and service strategies.
Outline:
Executive Summary
Defining CRM
CRM's Impact on Marketing
Summary
From the Paper "What had begun as a series of applications aimed at capturing customer information has transformed into a series of strategies for attracting, selling, and serving customers. This transformation of CRM has been directly attributable to the change in which members of organizations are acquiring the software. When CRM was first created IT Departments were the first customers, and the key success criteria of IT are quite different than line-of-business executives who have profit-and-loss responsibilities for their companies. These line-of-business executives have transformed CRM from a series of applications to a series of strategies supported by applications, and this is a critical point in the evolution of this area overall."
