CRM is often misunderstood by people new to the industry. So while we are redesigning our site we felt it would be a good idea to simply take the wikipedia description and place it here.
Customer Relationship Marketing
CRM systems for marketing track and measure campaigns over multiple channels, such as email, search, social media, telephone and direct mail. These systems track clicks, responses, leads and deals.
Customer service and support
CRMs can be used to create, assign and manage requests made by customers, such as call center software which help direct customers to agents. CRM software can also be used to identify and reward loyal customers over a period of time.
Appointment CRMs automatically provide suitable appointment times to customers via e-mail or the web, which are then synchronized with the representative or agent’s calendar.
For small businesses a CRM system may simply consist of a contact manager system which integrates emails, documents, jobs, faxes, and scheduling for individual accounts. CRM systems available for specific markets (legal, finance) frequently focus on event management and relationship tracking as opposed to financial return on investment (ROI).
CRM often makes use of social media to build up customer relationship. Some CRM systems integrate social media sites like Twitter, LinkedIn, Facebook and Google Plus to track and communicate with customers sharing opinions and experiences with a company, products and services. Trends identified through social media allow businesses to make more accurate decisions on which products to supply.
Non-profit and membership-based
Systems for non-profit and membership-based organizations help track constituents, fund-raising, demographics, membership levels, membership directories, volunteering and communication with individuals.
In 2003, a Gartner report estimated that more than $1 billion had been spent on software that was not being used. According to KEN Insights, less than 40 percent of 1,275 participating companies had end-user adoption rates above 90 percent. Many corporations only use CRM systems on a partial or fragmented basis. In a 2007 survey from the UK, four-fifths of senior executives reported that their biggest challenge is getting their staff to use the systems they had installed. 43 percent of respondents said they use less than half the functionality of their existing system.
The CRM market grew by 12.5 percent in 2008, from revenue of $8.13 billion in 2007 to $9.15 billion in 2008. The following table lists the top vendors in 2006–2008 (figures in millions of US dollars) published in Gartner studies.
Vendor 2008 Revenue 2008 Share (%) 2007 Revenue 2007 Share (%) 2006 Revenue 2006 Share (%)
SAP AG 2,055 22.5 (−2.8) 2,050.8 25.3 1,681.7 25.6
Oracle 1,475 16.1 1,319.8 16.3 1,016.8 15.5
Salesforce.com 965 10.6 676.5 8.3 451.7 6.9
Microsoft CRM 581 6.4 332.1 4.1 176.1 2.7
Amdocs 451 4.9 421.0 5.2 365.9 5.6
Others 3,620 39.6 3,289.1 40.6 2,881.6 43.8
Total 9,147 100 8,089.3 100 6,573.8 100
Many CRM vendors offer subscription-based web tools (cloud computing) and software as a service (SaaS). Some CRM systems are equipped with mobile capabilities, making information accessible to remote sales staff. Salesforce.com was the first company to provide enterprise applications through a web browser, and has maintained its leadership position. Traditional providers have recently moved into the cloud-based market via acquisitions of smaller providers: Oracle purchased RightNow in October 2011 and SAP acquired SuccessFactors in December 2011.
The era of the “social customer” refers to the use of social media (Twitter, Facebook, LinkedIn, Google Plus, Pinterest, Instagram, Yelp, customer reviews in Amazon, etc.) by customers. CR philosophy and strategy has shifted to encompass social networks and user communities.
Sales forces also play an important role in CRM, as maximizing sales effectiveness and increasing sales productivity is a driving force behind the adoption of CRM. Empowerming sales managers was listed as one of the top 5 CRM trends in 2013.
Another related development is vendor relationship management (VRM), which provide tools and services that allow customers to manage their individual relationship with vendors. VRM development has grown out of efforts by ProjectVRM at Harvard’s Berkman Center for Internet & Society and Identity Commons’ Internet Identity Workshops, as well as by a growing number of startups and established companies. VRM was the subject of a cover story in the May 2010 issue of CRM Magazine.
In 2001, Doug Laney developed the concept and coined the term ‘Extended Relationship Management’ (XRM). Laney defines XRM as extending CRM disciplines to secondary allies such as the government, press and industry consortia.
CRM futurist Dennison DeGregor describes a shift from ‘push CRM’ toward a ‘customer transparency’ (CT) model, due to the increased proliferation of channels, devices, and social media.
We took this page from http://en.wikipedia.org/wiki/Customer_relationship_management Of course if you go to wikipedia you will be able to find tons more information about CRM.