Customer relationship management (CRM) has been undergoing an evolution. The rationale for this method has expanded from reducing costs via targeting sales and retention resources on the most valuable customers to growing revenue by enhancing the customer experience. To accomplish this, firms increasingly want flexible solutions that can generate results quickly but which have robust enhanced functionality to support mobile and multichannel users, including those on social networking sites. One of the most important moves CRM buyers and suppliers are making is toward more modular deployments and solutions, spread out over time on an as-needed basis instead of purchasing and only offering large packages. There are new tools that make installing and configuring CRM systems easier and less costly. Social media is emerging as a new channel that CRM applications are are beginning to address. There are CRM solutions that integrate social media with the other channels, and offered both on demand as well as via on-premise licenses.
The CRM Evolution Brenda Read Customer Inter@ction Solutions; Jan 2010; 28, 8; Docstoc pg. 12 Reproduced with permission of the
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