Customer Relationship Management

Running Head : CUSTOMER RELATIONSHIP MANAGEMENT
Customer Relationship Management
Name of the Student
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Author Note

1CUSTOMER RELATIONSHIP MANAGEMENT
Introduction
The customer relationship management is the approach to manage the interaction of the
company with the present and the potential future customers. The customer relationship,
management utilizes the customer data for the improvement of the business through
strengthening relationship with the customers especially concentrating on the retention of the
customers and driving the sales growth accordingly. One of the most important aspect of the
customer relationship management approach is the way data is compiled from different channel
such as the website of the company, the live chat, emails, telephone, the social media and the
marketing materials (Badwan et al. 2017). The CRM approaches and the systems are used for
facilitating the business by best catering to the needs of the customers. The aim of this report is
to outline the relevant and the up-to –date issues connected with the selected CRM topic that is
the application of CRM in small businesses. The paper will prepare a literature review for
addressing the CRM issues which are associated with strategy, benefits, challenges and the
technology. The paper will also include the industry examples in order to support the four topic
areas. The paper will conclude by giving a brief overview of the entire paper highlighting the key
points.
Brief Analysis
CRM explained
The Customer Relationship Management is a concept which refers to the strategies
which are used by a particular organization in order to improve the business relationship with the
customers. It is found that most of the organizations use the CRM software which dates back to
the 1980s. These softwares are designed to collect and analyse the customer information and has

2CUSTOMER RELATIONSHIP MANAGEMENT
become most important tool used by those organizations wanting to engage with the customers.
The aim if using the CSM software is also to drive sales and improve the marketing efforts. The
CRM is like a digital Roledox that keeps the contact details of people and makes the resources
powerful to the marketers (Dewnarain, Ramkissoon and Mavondo 2019). Moreover, it also
streamlines the sales and optimizes the business purpose
Usage of CRM
It has been found that almost 94 % of the business uses the CRM software for the contact
management. More than 65% of people use it for the lead nurturing and 59 % use it for the email
marketing. It is also used to improve the customer service and boost the customer satisfaction.
There are various benefits of using the CRM systems. The primary benefit is the information
gathering. The collection, organization and the storage of important customer data is a full-time
job and there are high chances of mistake (Lillard and Al-Suqri 2019). The high quality customer
relationship management is a tool that takes the customer satisfaction upto higher levels. The
customer relationship management offers a range of advantages which helps to identify, assist
the clients and understand them for incurring higher revenues. The primary benefits of the CRM
are as follows:
Improved Informational Organization
The knowledge of the customers and their preferences help to drive a positive experience
that pays off in future. It is the interaction of the customers with the organization which needs to
be identified, recorded and documented. The CRM helps to store a vast range of the customer
data which is important for them.
CRM enhances the communication