BSBINM501: Customer Relationship Management Report Analysis

This report delves into the multifaceted world of Customer Relationship Management (CRM), providing a comprehensive analysis of its core concepts, advantages, and strategic applications. The introduction sets the stage by defining CRM as a crucial tool for enhancing customer interactions and optimizing data management throughout the customer lifecycle, ultimately aimed at improving customer service and boosting sales. The report then outlines the significant advantages of implementing a successful CRM system, including improved customer service, revenue generation, and sales process efficiency. It also discusses the essential components for successful implementation, such as well-trained employees, appropriate software, and strong management support. Furthermore, the report includes a SWOT analysis, examining the strengths, weaknesses, opportunities, and threats associated with CRM. Finally, the report explores the role of CRM within knowledge management systems, highlighting its value in improving business communication, enhancing customer service, and managing client relationships. The report concludes by emphasizing the importance of CRM in the modern business landscape.

Customer Relationship
Management

 Introduction
 Advantages
 Successful CRM
 Views of CRM
 SWOT analysis of CRM
 CRM in Knowledge Management System
 Conclusion
 References
Agenda

 Concerned with the development, creation, improvement of a company
(Choudhury & Harrigan, 2014).
 Used to direct and examine the customer interchange and also the data to
its entire lifecycle.
 Target is to upgrade facility given to customers.
 Serving in preservation of customer.
 Helps to increase the growth of sales of the company (Choudhury &
Harrigan, 2014).
 Executes data in different platforms. It includes live chat, direct mail,
telephone and many others.
Introduction

 Improves the performance of the company in customer service.
 Smooth find of brand new customers.
 Increases revenue generation of the company from customers.
 Assist sales group of the company for termination of deals in a faster
approach (Khodakarami & Chan, 2014). .
 Increases the sales of products of company.
 Responsible to make procedure of sales lucid.
 Helps to make call centres more systematic.
Advantages

 A successful CRM can implemented by applying:
 Well trained employees at the front office of the company.
 Maintaining good work-culture and good work-flow (Nyadzayo &
Khajehzadeh, 2016).
 Implementing an appropriate software to reach the goal of company.
 Providing massive support from top level management.
 Efficient communication between front as well as back office.
Successful CRM

 Automation of marketing (Soltani & Navimipour, 2016)
 E-Commerce
 Automation of Sales
 Self-service to Customers
 Providing successful services to customers
Views of CRM

SWOT analysis of CRM

 Strengths helps to find outstanding customers, increases the sales,
increases pleasure of consumers (Soltani & Navimipour, 2016).
 Weakness in CRM deals with overloading of consumer data, absence of
development of culture of company, not able to reach to the target.
 Opportunities in CRM deal with the capability of satisfying consumers,
improves sales of the company, betterment of the relationship between the
consumer and company (Soltani & Navimipour, 2016).
 Threats in CRM deal with poor amalgamation with back office system of
the company, excessive amount of automation, overlooking of personal
data of consumers.
Contd.

 Reflects the understanding of performance of consumer
 Understanding of employees regarding the sales of product.
 Shows understanding of employees regarding awareness of customer.
 Understanding of procedure of business of the company.
 Reflects required talents of employees (Choudhury & Harrigan, 2014).
 Reflects desire of consumers of the company.
 Information of customers are required for interacting with them.
 Relevant knowledge of business is required (Nyadzayo, & Khajehzadeh,
2016).
 Knowledge of the business must be manageable as well as measurable.
CRM in Knowledge Management System

 It is a widely applicable technology for the purpose of the improvement of
business.
 Used to manage communication with consumers.
 Used to provide better facility to consumers.
 Used to maintain better relation with clients as well as expectation from
sales.
Conclusion

 Choudhury, M. M., & Harrigan, P. (2014). CRM to social CRM: the
integration of new technologies into customer relationship
management. Journal of Strategic Marketing, 22(2), 149-176.
 Khodakarami, F., & Chan, Y. E. (2014). Exploring the role of
customer relationship management (CRM) systems in customer
knowledge creation. Information & Management, 51(1), 27-42.
 Nyadzayo, M. W., & Khajehzadeh, S. (2016). The antecedents of
customer loyalty: A moderated mediation model of customer
relationship management quality and brand image. Journal of
Retailing and Consumer Services, 30, 262-270.
 Soltani, Z., & Navimipour, N. J. (2016). Customer relationship
management mechanisms: A systematic review of the state of
the art literature and recommendations for future research.
Computers in Human Behavior, 61, 667-688.
References

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