Introduction to CRM
Selling has always been the vital force in carving the economic development of any company.
Aptly described, "the development of selling has been from 'hawkers and walkers' to a burdensome role imposed by the aggressive marketing regimes introduced by the large, bureaucratically managed companies." - Roy Church
More so in the present world, where competition and fast track culture dominates the market place, selling is a real challenge. Today, selling or even marketing means a lot more than what the dictionary defines it as ' the exchange of goods for an agreed sum of money'.
Both for selling as well as for marketing, one must have knowledge of everything - leads, queries, customers, sales, feedback, relationship, requirement and so on. Similarly, the advent of technology has brought about an apparent change in the organizations' approach to customer relationship. And technological advances have brought more of company's relationships to be managed through electronic means.
There is a need created for companies to automate services and personalize communication with customers. The need primarily is about having an application or a system in place to effectively manage the sales process and customer relationship; capture vital data and information about customers - purchase history, revenue generated, up selling / cross selling opportunities, etc.; and generate sales quote or create orders.
To be precise, the need of the hour is to have a 360-degree view of ones business. This is why the Customer Relationship Management has gained so much popularity among all businesses.