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IS1107

Week 1 CRM

TermDefinition
CRM system System that manages customer information across different functional areas to gain insight into needs, wants and behaviours to serve them better
What's CRM useful for Finding new customers Collecting their data Analyzing their data
CRM components Operational Analytical
Operational CRM Serve existing customers -Deals with direct interactions with customers -Streamlines front office operations by automating sales, marketing and customer service
Analytical CRM New customers or new sales to existing customers -Helps analyze customer data and transaction history to make better decisions for the future -Deals indirectly with customers - Generate stats. model to look at customer behaviours over a time period
Traditional Sales- Centred Approach Customer feels more like a transaction than a customer
CRM Centred Approach Customer feels known and valued . Trusts the brand more and recommends it to friends
CRM advantages - Increased Sales Effectiveness -Increased Revenue per customer - Improve customer relationships
CRM challenges - Strategy too generic -Software focused problems -
Created by: peadarbailey1206
 

 



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