Customer Relationship Management: An Analysis Framework and Implementation Strategies

Achieving a successful CRM environment needs not only the critical success factors analyzed but also some practical aspects, especially the cooperation of the IT and other functionalities within the enterprise.

Abstract

Customer relationship management is a buzzword around businesses. “CRM comprises a set of processes and enabling systems supporting a business strategy to build long term, profitable relationships with specific customers.” There are a few components of CRM implementation, most importantly, the IT component. While revolutionary in many respects, CRM is also a natural and predictable extension of how marketing and sales have evolved over the years and, in many ways, are coming full circle. The Customer Relationship Management Cycle consists of an evaluation phase, a planning phase, an implementation phase, and a review phase. Several intrinsic business reasons are driving a great number of companies going onto the CRM highway. Companies can overlay their own data to better understand customer attributes and get better results. The most substantial impacts from CRM transitions fall into the category of information support. Customer information and the associated technology tools are the foundation upon which...