Take a look at the following illustration. It shows the ingredients that work together to form a successful CRM system.
Here are some of the important ingredients of CRM −
● Analytics − Analytics is the process of studying, handling, and representing data in various graphical formats such as charts, tables, trends, etc., in order to observe market trends.
● Business Reporting − Business Reporting includes accurate reports of sales, customer care, and marketing.
● Customer Service − Customer Service involves collecting and sending the following customer-related information to the concerned department −
○ Personal information such as name, address, age
○ Previous purchase patterns.
○ Requirements and preferences.
○ Complaints and suggestions.
● Human Resource Management − Human Resource Management involves employing and placing the most eligible human resource at a required place in the business.
● Lead Management − Lead Management involves keeping a track of the sales leads and distribution, managing the campaigns, designing customized forms, finalizing the mailing lists, and studying the purchase patterns of the customers.
● Marketing − Marketing involves forming and implementing sales strategies by studying existing and potential customers in order to sell the product.
● Sales Force Automation − Sales Force Automation includes forecasting, recording sales, processing, and keeping a track of the potential interactions.
● Workflow Automation − Workflow Automation involves streamlining and scheduling various processes that run in parallel. It reduces costs and time, and prevents assigning the same task to multiple employees.