Modern Enterprises are heavily investing in their sales and marketing operations, which are key to successful business results. For example, surveys among CMO (Chief Marketing Officers) have concluded that several companies spend more than 10% of their budget on marketing. Customer Relationship Management (CRM) systems and processes are essential to managing sales and marketing transactions in an integrated way which maximizes profitability. CRM systems are very popular among digital organizations, as enterprises understand the business benefits of a CRM deployment. Let’s explore some of the main drivers that lead companies to adopt and deploy a CRM.
In most cases CRMs are deployed in response to symptoms of poor performance in sales and marketing operations. Here are five common signs that an organization should consider a CRM deployment:
Even though the list of signs is not exhaustive, it is representative of some of the most common CRM modules and functionalities.
A main characteristic of CRM systems is their ability to collect, consolidate and unify data about existing and prospective customers from many different sources. Over the consolidated data, different functionalities can be implemented and different CRM processes can be supported. A high-level taxonomy of CRM functionalities follows:
Enterprise scale CRM suites provide all of the above functionalities bundled within a single product. However, there are also smaller scale and open source solutions, which support only part of the above-listed functionalities depending on your needs.
The process ?f planning and deploying a CRM system, entails not only technological, but also management and organization aspects as well. A typical adoption roadmap involves the following steps:
In implementing this roadmap, here are our five suggested best practices for safeguarding your success:
Are you experiencing symptoms of poor management of your relationships and interactions with customers? You should consider riding the CRM wave, along with our tips for starting your project on the right foot.
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