Business Growth and Customer Relationship Management (CRM)

In today's article, I'd like to share a very informative article which was written by another professional writer. Read this article throughly and enjoy the knowledge.

CRM - The Key To Business Growth

By Supriya Lala
"This is a quote"...
Submitted On January 18, 2011

"In order to deal with the challenge of enhancing business performance (which translates into sustainable and profitable growth) organizations need to enhance the economic value of their customers.Enhanced economic value of the customers depends upon the relationships organizations develop, sustain and grow with them over a period of time. The key lies in effective customer relationship management (CRM). CRM is one of the most critical parameters for measuring business performance.

CRM solutions provide the processes and tools to efficiently handle customer related data. These systems cater to the entire spectrum of activities: sales, service, lead generation, account planning, contact management, order management, inventory planning, forecasting, billing and delivery management. Although other social media platforms such as Facebook and Twitter have garnered more attention recently, a CRM system is very similar in nature to these social media platforms. Both platforms are developed around people and relationships important for business growth..

Business doesn't just involve transaction between the buyer and seller but also involves establishing a relationship with customers. Overtime this connection grows and becomes more complicated. Various departments get involved in the business process and a number of teams interact with the same customers at different levels. Knowledge dissemination across various teams needs to be done smoothly and precisely so that communication is effective in nature. The role of a CRM system is to act as a controlling and managing center. It channelizes, manages and moderates the multivariate connections and interactions happening across various levels in a growing business.

CRM helps an organization to focus on various areas of business such as:
Effective data management enabling behavioral and value segmentation of customers. This allows differential and targeted product and service offerings to be made to the customers.
Forecasting desired customer response in relation to either a new product launch or when playing with the price of an existing product thereby having a direct impact on conversion and customer retention.
Usability and effectiveness of marketing techniques employed by organizations. It can evaluate whether these marketing messages have been communicated at the most effective point of contact (POC) or not, so as to have the maximum positive impact on the buying behavior of customers. Simultaneously, customer insights can be used to predict the buying behavior and to help design customized marketing campaigns targeted for improved customeracquisition.
Segregating customers into niche categories like the more profitable and the less profitable ones on the basis of return (revenue potential) on investment (relationship maintenance cost).
Evaluating value propositions against their overall financial target and business objectives.
Assisting start-ups to manage data by placing it in the cloud and making it reachable in real time across various devices.

To enhance the effectiveness of CRM as a business strategy, organizations need to deploy a number of CRM software applications to make customer management more customer-centric. The applications offer specialized and vertical solutions to various niche areas.

Comnez has several years of experience developing and implementing web based systems to address the different areas of customer relationship management. A small business might just survive without CRM, but if a business wants to grow and scale up faster it should consider implementing CRM system. It should have the CRM handle business information and place it in cloud. This would give the business more time to focus on its core competencies and customer satisfaction strategies.

CRM is an indispensable capability for any business to compete for customer attention and loyalty. CRM technology offers the mechanism to convert customer insights into impactful action for attaining the ultimate business objective.

Contact Comnez with your custom requirements to initiate the process of requirement analysis to give you a free quote. Achieve your desired solution and see your business scale new heights!!

For more information on Customer Relationship Management visit http://www.comnez.com/cweb/ OR send your entire CRM requirements at the e-mail mentioned in our website. We will revert back within 24 hours with cost effective solutions.

Article Source: http://EzineArticles.com/?expert=Supriya_Lala

Thank you, Supriya for allowing us to share this valuable information with our readers.

If you have any additional questions, feel free to contact me directly for a free "no obligation" consultation.

"Let's Build a Powerful Business Together"

Adrian C Sheffield - Author, Mentor and Consultant

Private Line: 214-221-5689

See Yesterday's Article For Additional Helpful Tips.

Author Resource: Adrian C Sheffield - Author, Mentor and Consultant in assisting customers with their writing issues and wants to promote their site to "Top Positions with the search engines". Phone: 214-221-5689, Skype: acsheff20

CRM - The Key To Business Growth

Adrian C Sheffield Author, Mentor and Consultant

online marketing,marketing,blogging,article writing,search engine optimization,search engine marketing,mentoring,adrian sheffield

CRM - The Key To Business Growth