Analytics are another tool the company can use if they are using efficient CRM s

Question

Analytics are another tool the company can use if they are using efficient CRM software to aggregate the data generated across and between departments and the customer. Although analytics can be intimidating, by analyzing it in a step by step manner it becomes more enlightening and easier to understand.

The following analytics were provided to the Customer Service Representatives (CSRs) in the monthly department meeting.

The customer service manager has asked you to see if you can analyze the data and get back to him tomorrow as to how you might address the situation.

Here are the analytics provided to the Customer Service Representatives (CSRs) of a global department store. The company ran a website survey on Monday night through Thursday. After customers took the survey, they were entitled to a discount coupon on handbags downloadable from the company website.

Checklist:

Based on these analytics on the vertical axis in thousands, what tools were used by customers to spread the word on what days?

What would this tell the customer service department as to the best means of getting out the word on promotions for this company and why?

Why did sales not increase until later based on both of these charts?

How did the situation impact delivery?

How can the company use the feedback loop of customer service to address this situation?

Explanation / Answer

Customer Relationship Management System (CRM) is a software which employers and employees use within an organization. CRM is one of the enterprise application used in the corporate world.

CRM is a technology which revolves around a customer. It records the valuable information regarding customers. It records the history, past sales, marketing efforts for the product, etc. This technology is used to manage customer records. It helps in analyzing customer interaction with the organization. CRM helps in retaining present customers and aims to target future customers. CRM includes a dashboard recording valuable information of customers on one page in the computer systems.

Partner relationship management (PRM) is a business strategy for improving communication between companies and their channel partners. Web-based PRM software applications enable companies to customize and streamline administrative tasks by making shipping schedules and other real-time information available to all the partners over the Internet. Several CRM providers have incorporated PRM features, such as Web-enabled spreadsheets shared through an extranet, in their software applications. PRM is often compared to customer relationship management (CRM) and there is some argument over whether the complex relationships of channel partnerships makes it necessary for PRM to be a separate entity, or merely a component of CRM.

There are several tools for CRM Softwares:

Salesforce : The Salesforce cloud is a leader in on-demand customer relationship management. The system offers a broad suite of CRM applications for small, mid-market and enterprise organizations, with a focus on sales and support.

Salesforce offers vertical solutions for the wealth management and financial services segments only, but its partner network (AppExchange) offers a wide variety of other industry-specific solutions.

Pipedrive: Pipedrive is a standalone sales CRM with an emphasis on simplicity, visual design and ease-of-use. Its user interface that visually reflects the natural flow of the sales pipeline. Pipedrive aims to simplicy the process for salespeople to focus on the right deals at the right times, and give managers a clear overview of the company’s performance.

mHelpDesk : Mhelpdesk is a field service solution that works to organize and manage service requests, billing, reports and customer relationships. This system has been around since 2007 and currently helps over 6,000 businesses manage all aspects of their field service business from a single, centralized system.

Mhelpdesk has multiple features to support a field service-oriented business, including integration with QuickBooks for accounting.

Spiceworks :Spiceworks is a 100% free help desk and network management solution specifically designed for systems administrators and IT professionals. The system works best if you’re managing a network with up to 1,000 devices. While it can handle more than 1,000 devices, the software will run much slower. What we like most about Spiceworks is the robust functionality you get, all at no cost.

Operational CRM

Operational CRM is, in simplest terms, the business operations connected to building and managing CRM in a company. It includes operation of such functions as sales force automation and call centers.

Analytical CRM

Analytical CRM describes the component of CRM that relates to data mining and interpretation of data collected about customers. Companies that use CRM are usually trying to garner as much customer data and transaction history as possible to make effective business and customer-centered marketing decisions.

Distinguish B/W Operational and Analytical CRM

The tools and other resources used in operational CRM and analytical CRM are often essentially the same. The resources themselves are considered part of the business operations, or operational CRM. The analysis of the data collected through these operations is analytical CRM. Effective operational CRM contributes t

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