CRM Performance Task

RETAIL MANAGEMENT
GROUP #3
Parcon, Nicole Anne
Ombao, Anjolie
Luzano, Rosa Mae
Basibas, Cyril
Avanes, Shairene
CRM PERFORMANCE TASK
CRM or Customer Relationship Management is a strategy that is used by business

owners to establish relationships and connect with their customers. CRM helps in many
ways such as; automating tasks, storing and Manage Contact Data, Tracking Details,
Communicating with Customers, and many more benefits. This is also used in creating
forecasts and reports. CRM’s objective is to create a long-term mutually beneficial
relationship with the customers.
CRM aims to improve business relationships so that it can produce long-term results
that will highly benefit businesses. By establishing the right CRM strategy, each
business could establish and manage the right customer relationship with its current
and potential customers through stages like Customer acquisition, retention,
development, consultation, and conversion. As was mentioned in the lecture, prioritizing
customer communication, being customer-centric, and integrating or making use of
other systems would help increase customer satisfaction and customer loyalty.
CRM has different main types, these are Operational, Analytical, and Collaborative
CRM. Operational CRM is also known as salesforce automation. In this type of CRM,
the streamlining of the company processes in strengthening customer relationships is
being helped and developed. This is where tools and visualization are provided on how
to handle and efficiently monitor the customer journey which mainly focuses on the
day-to-day tasks of customer interactions like sales, marketing, and customer service.
This type of CRM is suitable for businesses that want to get more out of the customer
information that they have.
Analytical CRM known as Business Intelligence on the other hand denoted the
systematic electronic analysis of compared customer data. Nowadays this this type of
CRM uses digital tools to collect large quantities of data. This is where Analytic CRM is
useful as we analyze the following data to gain comprehensive and detailed knowledge
about customer behavior and preferences. This mainly helps businesses in terms of
Identifying current trends, Improve Customer satisfaction, and even making better
business decisions.
Collaborative CRM is the third type of CRM. This is also known as Social CRM, In this
CRM the departments or teams within the company should be collaborative and
connected. In large companies, there are struggles in the Marketing, Sales, and
Customer Service departments as they work separately and don’t feel connected at all.
Collaborative fices this issue by ensuring that all teams have the same data no matter
what department or channel they work in, this is to ensure that the customers
experience a seamless interaction and service. It is appropriate to use this type of CRM
Strategy for businesses that have many departments and are struggling to keep
everyone on the same page.
As we have learned, we don’t just randomly choose what CRM we want for our
company. Selecting the right Customer Relationship Management system for a
business is a critical decision that could affect Customer Interactions, Sales Processes,
and the overall efficiency of the business. In evaluating the right CRM we should
consider the Business objectives, Scalability, Budget, Deployment Options, Integration
Capabilities, Automation Features, and Customer Support.
By using CRM Businesses benefit from many things such as having Centralized
Customer Data Management, Improves Customer Service, Improved sales processes,
Data-Driven Decision Making, Targeted Marketing Campaigns, Automation of Routine
Tasks, Lead Nurturing, Improve Collaboration, Customer Retention, Scalability,
Cost-Reduction, and Compliance and Data Security.
Overall CRM is an Important systematic strategy that helps many businesses have
Strong Customer relationships, Optimize internal processes, and Making Data-Driven
Decisions to ensure a wonderful customer experience that would create a long-term
result and effect for the company.

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RETAIL MANAGEMENT

CRM PERFORMANCE TASK

CRM or Customer Relationship Management is a strategy that is used by business

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