What is a CRM Cycle?
It is a known fact that every software application is intended to accomplish certain business goals. Customer Relationship Management or CRM is no different. Business owners expect that through CRM application they will be able to discern:
•Who are their customers?
•What kind of marketing campaign is suitable for customers?
•How to efficiently maintain the Account and Contact database?
•How to track leads, and convert them into Opportunity?
•How to effectively resolve customer issues?
•How to provide better customer service?
Customer Relationship Management accomplishes the complete set of activities ranging from customer acquisition and retention to service. This cycle of customer-related activities is termed as CRM cycle, and Krawler CRM comprehensively covers the entire set of it.
The CRM cycle basically consists of four stages – Marketing, Sales, Product, and Support.
•Marketing Stage – In this stage of CRM cycle, the basic focus is to identify customers by running various marketing campaigns (such as emails, blogs, advertisements, and more), create the database for Account (pertaining to Organization) and Contacts (pertaining to individuals), and finally generate leads by analyzing the gathered customer data.
•Sales Stage –In the Sales stage, basic focus remains on leads. They are the individuals who have expressed some kind of interest in your product offering. ‘Leads’ are further categorized into Open, Contacted, Qualified and Un-qualified. Krawler CRM offers a functionality to convert ‘leads’ into ‘opportunity’ for carrying out further sales activities.
•Product Stage – In this stage of CRM cycle, the basic focus is on delivery of product. Krawler CRM offers Product Management functionality that captures details about the product price, vendor, and description, among others.
•Support Stage – During Support Stage, the primary focus remains on resolving customer issues and providing customer support. In CRM terminology, this function is known as Case Management. (To visit our previous blog on Case Management, please click here).
To conclude, CRM cycle provides insight into various stages of Customer Relationship Management from customer acquisition to retention and service. CRM cycle lays down the roadmap for how the business can connect with their customers efficiently and serve them more effectively.
This entry was posted on Thursday, October 8th, 2009 at 6:21 AM and is filed under CRM. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.