"How are we doing?"
Customer Relationship Management (CRM) Strategy allows companies to better understand their relationships with customers by collecting, storing and analyzing customer information. CRM is a holistic approach in philosophy of dealing with customers and has three main aspects which may be implemented independently from each other: Operational CRM, Collaborative CRM and Analytical CRM.
Operational CRM focuses on front office activities and allows sales representatives to better serve their customers by capturing data and utilizing reporting services that flow across a call center through agent support software. This technology allows call centers to operate on a unified platform and prevents the need for the same steps to be repeated multiple times. This process is also highly related to Call Center Optimization and the ability for a company to improve call center efficiency and enhance the customer experience by the way calls are routed through the Internet and by gathering information for future interactions through leveraging reporting services.
Collaborative CRM refers to direct customer interactions that do not involve the front office representatives. The channels of customer interaction may include email, Internet or automated phone systems which allow direct communication and transactions with the customer in a self service fashion. Collaborative CRM is often used to cut costs or scale by investing in technology rather than by workforce additions.
Analytical CRM is the process of analyzing customer data for a wide variety of reasons through statistical analysis software. Analysis is performed on customer data to predict future buying habits, market trends, build customer loyalty and increase market effectiveness. Analytical CRM uses data mining and statistics through predictive analysis to make management decisions around service offerings and customer profitability.