In India, CRM satisfies three basic objectives for companies that are keen on retaining customers and increasing market share.
1. It offers a 360-degree view a company should have a clear understanding of clients and their needs. It means that whoever the company speaks to, irrespective of whether the communication is from operations, sales, systems, finance or support, the company is aware of the interaction. This is one of the key steps in a CRM implementation. CRM give a complete set of tools that are required to improve efficiency. There are numerous channels of communication e-mail (eCRM), fax, telephone, Personal Data Assessments and many other wireless devices. In order to get a complete picture these must be integrated and tracked.
2. CRM optimizes processes and functions related to the customer All operations can be optimized and systematized to enhance efficiency and effectiveness. It is a matter of continuous improvement. This is why sales force automation became important and critical. Corporates began to realize that in the face of increasing competition, sales force automation is critical. The problem lay in convincing the sales guy who believed in his personal abilities. Sales automation results in more accurate predictions as well. Sales operations have to be organised to make customer-facing systems efficient and effective.
3. To learn from integration-The learning process should be focused on bettering marketing, sales and any other function that interacts with the customer. The interaction will help an organization to bring out better products that target potential and existing customers. The whole idea is that if you know your customer better, you can target them better. Their operations are aimed at getting the right customer and then retaining them by giving them the service they require. Some customers have preferred channels of communicating. Some customers may not like to transact over the Net and may prefer physical transaction. This varies from customer to customer. All these differences lead to the importance and need for CRM.
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