Key Business Process Areas in CRM

Customer Relationship Management, or CRM as it is commonly known, involves a great number of potential areas of efficiency for any business organization. There are similarly a variety of key business process areas relevant to CRM systems. Among them are the processes of marketing, sales, service, partner channel management, interaction centers, web channels, business communication and real time offer management, and trade promotion.

Where marketing is concerned, customer relationship management systems increase customer demand and align the marketing processes. This is accomplished by utilizing the functions in order to improve the management and deployment of marketing resources, marketing campaigns and strategies, lists and segments, marketing analytics, and trade promotions. The marketing department benefits greatly in being able to actually measure the effectiveness of their efforts on the sales results.

The sales department and processes benefit substantially from the CRM system. These platforms permit the business to obtain, expand, and keep the firm’s profitable relationships. This is accomplished by the system’s functions for the forecasting and planning of sales, as well as for managing accounts, territories, contacts, opportunities, activities, quotes, product configurations, orders, billing, pricing, and contracts.

The service department and processes are the primary beneficiaries of such CRM systems. Customer Relationships Management programs are able to increase service revenues and profits with better support for marketing and sales services. Ways that service can be improved are through better handling of service orders, complaints, returns, contracts, warranties, in house and depot repairs, resource planning, service analytics, and e-service. Functions which are provided support field service, call centers, and e-service in more versatile options for delivery.

Partner channels management can be effective enhanced with CRM. Through effectively managing partner relationships, as well as empowering the channel partners, a more loyal and profitable indirect channel can be created. CRM improves the processes for partner communications, management and recruitment, forecasting, channel marketing, collaborative selling, channel service, partner order management, and analytics for the benefit of both channel and partner managers.

Interaction centers can be set up as a CRM function, as well. Such customer interaction centers are locations where business meet with their customers face to face. CRM systems permit the business to optimize customer loyalty, increase revenues, and reduce costs through changing the interaction center into more of a delivery channel for sales, marketing, and service endeavors over all points of contact. Activities like telesales, telemarketing, human resources, customer service, IT support, and the management of interaction centers can all be handled well.

Web channels are another process that CRM is able to help. Transaction costs can be reduced while sales are increased. This is done via using the Internet as a viable marketing, sales, and service channel for consumers and business both. Utilizing a completely integrated Web channel allows for new markets to be reached and profitability to be increased. This covers e-commerce, e-marketing, Web channel analytics, and e-service.

Both business communications and real time offers may be effectively managed by CRM processes. Outbound and inbound contacts spanning a multitude of channels and locations can be managed well. Customers and partners can be offered consistent and dependable encounters over all channels, such as text messaging, voice, e-mail, and the Internet. All interactions with customers may be transformed into new opportunities to enhance customer relationships and create revenues. CRM systems permit the developing, planning, and executing of up selling, cross selling, and retention offers, as well as service level agreements.

Finally, CRM processes can include the management of trade promotion as well. The firm’s profits and brand presence can be increased using better visibility and control of every trade relevant process. Accounting’s financial results and trade accuracy can be improved using this back office integration provided by CRM. Trade promotion success can be increased using improved management of promotions, trade funds, retail execution, and claims, along with analytics.

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