CRM Overview and Discussion Research Paper

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Customer relationship management (CRM) is a technology driven practice that works to integrate customer information in an attempt to improve service quality and influence behavioral outcomes such as customer loyalty and repeat sales as well as increased customer satisfaction in general. CRM technologies can be implemented in virtually any industry and with virtually any size business -- now including small businesses. CRM software modules can also be integrated with other business processes to provide a more complete and accurate customer profile that can be used for an array of different purposes. Similar to many other uses of technology in business, the effectiveness of CRM solutions can vary significantly depending on a range of factors. This analysis will introduce CRM technologies in general, provide information about some of the main technology provides, and discuss some of the best practices that associated with its use in the modern business environment.

CRM Overview

CRM can be defined as the process of achieving and maintaining a heightened relationship with a range of different customers through different touch points and the intelligent use of data (Bohling, Bowman, LaValle, & Vikas, 2006). It can be used as an alternative to a marketing program as well as a supplement to marketing efforts and is based on using customer data to maximize the value of the relationship between the firm and its customers. The relationship that is established can add value to both business and consumer interests if used appropriately.

Some researchers have noted that there seems to be a general consensus on the importance of CRM as a strategic tool to remain competitive in the modern business world (Bohling, Bowman, LaValle, & Vikas, 2006). Many consumers now expect new levels of convenience and efficiency with any of their service requests and even that many of these process are fully automated so that a customer can service themselves to many tasks that previously would have required a service representative to complete (Parida & Baksi, 2013).

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For example, in the banking industry, it is virtually impossible to be competitive without offering many automated CRM operations online or on a mobile app. Conventional service quality concept has also metamorphosed with operational efficiency, security and confidentiality of information stored, reliability, accuracy and speed of transactions, virtual interfaces, IVR etc. being considered as major quality dimensions (Parida & Baksi, 2013).

However, despite all the advantages, potential problems can also emerge such as CRM implementations can act to de-personalize the sales process (Darajeh & Shraz, 2010). This can create the potential for marketing efforts to lose out on information that can manifest through interpersonal communication through the more traditional sales process. For example, with one point of contact, relationships can build over the years and sensitive information can be gathered through these relationships. However, in some instances with a CRM system, although there is more customer data, it can be difficult to put this data in context and make it valuable to the company and/or the consumer. For example, although the sales team has access to more information that is accessible on the database, they can miss out on some of the nuances that develop through strong relationships and a dedicated sales representative.

Within a CRM system, customers have access to an entire sales team rather than be dependent on single salespeople which can have a range of positive and negative benefits depending on the industry and the characteristics of the application. For example, CRM data can be available to the extended organization that includes members such as marketing and sales, product engineering….....

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