Understanding Customer Relationship Management (CRM)

Front

What is a common misconception about CRM?

Back

Many companies identify CRM solely with a software system, ignoring its role as a business strategy involving people and processes.

Front

Why is CRM not just an IT issue?

Back

CRM requires a combination of people, business processes, and technology for successful implementation.

Front

What is the core purpose of CRM?

Back

To fetch customers, retain them, and maximize profitability.

Front

What has changed in customer management with the advent of technology?

Back

While technology has advanced, the core goal of maximizing business profits remains the same.

Front

Is CRM unaffordable for small enterprises?

Back

It is a myth; affordable CRM solutions are available through Application Service Providers.

Front

What is a common mistake regarding Return On Investment (ROI) in CRM?

Back

Many believe CRM gives a poor ROI, but poor ROI is more likely if CRM is not deployed.

Front

Who should be responsible for CRM implementation?

Back

The CEO should be responsible for CRM implementation, as they formulate and manage business strategies.

Front

What are some causes of poor ROI in CRM?

Back

Ignoring people and procedure strategies, lack of quantified benchmarking, and absence of a strategic vision.

Front

What is essential for successful CRM implementation?

Back

A better understanding of different dimensions of CRM and proper training for the CEO and their deputy.

Front

How should CRM be viewed in terms of its components?

Back

CRM should be viewed as a combination of technology, people, and processes, not just software.