Electronic Customer Relationship Management – E-CRM
Nowadays, in every industry information technology was found. To manage business processes, develop a business strategy, create marketing campaigns, to find sales opportunities and to improve customer service. Mainly companies rely on computers and ( E-CRM )electronically processed data. And, when it comes to analyzing customer data, CRM already proves itself best.
If we talk about the implementation of the E-CRM process, there exist three steps :
- Data collection: To effectively collect the customer’s information.
- Data aggregation: Aggregate your data by the filter and do analysis for needs to fulfill their customers.
- Customer interaction: Always provides proper feedback to your customers.
What is E-Customer Relationship Management?
If we talk about electronic customer relationship, it revolves around customer’s only –
1. Customer Acquisition –
To establish a business relationship, acquiring your customers is the very first step. A customer’s profile includes address, phone number, email address, customer’s name and many a time the social media accounts also. This process, as a result of entering data into the computer, enables forecast processes and ongoing sales communication processes too.
2. Customer Retention –
To improve retention rates, we need to gather data of acquired customers. Therefore, Managing effective data analysis, regular and systematic follow-up communication with contacts and well-serviced accounts are the factors that help you to reduce your company’s churn rate.
3. Customer Extension –
This phase, customer extension always includes intending activities that draw the relationship with customers and as a result enabling greater revenue.
Working of E-CRM
E-CRM System is the cheaper and the easiest to understand and manage. As a result, it enables the customers to do the business with different organizations in the way the customer wants any time anywhere via any type of the channel in their preferred language and their currency that what feels customers that they are dealing with a single organization that helps to recognize them at every step.
Features of E-CRM
1. Customer management:
With E-CRM one can easily access all the information of the customers including enquiry status.
2. Account management:
It gives access to the entire history of the customer. Also, it allows customer service teams and sales teams to work efficiently.
3. Back-end integration:
E-CRM provides easy access to integrate with other applications too.
4. Knowledge management:
It is a centralized platform that manages and even shares customer information too.
5. Reporting and analysis:
E-CRM provides you better report generation on customer behavior and business criteria
How is E – CRM useful in business?
Fortunately, a CRM system is well fit for the customers’ relationship management and this E-CRM is particularly aiming to improve the existing relationships with customers, to find the new prospects to your business. Also, this system can be brought best to organizing, facilitating collecting data and to manage the customer information.
Different Levels of E-CRM
1. Foundational services:
It includes the basic service – website, their effectiveness and responsiveness
2. Customer-centered services:
Particularly, these services have product configuration, order tracking, customization as per needs and the most important security.
3. Value-added services:
These are extra services that added value to other services such as online training and education
Benefits of E-Customer Relationship Management?
- Service Levels improvements
- Revenue Growth
- Customer Satisfaction
Why E-Customer Relationship Management?
- Build – Customer Loyalty
- Response accurately and faster
- Due to the introduction of new technology
- Gain a competitive advantage
- Reduces costs
- Create, measure and increase income for the business
Difference between CRM and e-CRM
- Fax, phone and retails stores are using nowadays for contacting customers in CRM while interne, wireless, email And PDA technology is used to communicate to customers in e-CRM
- Maintenance of CRM is more expensive than the E-customer relationship management.
- E-CRM is designed for customer needs while CRM is designed for job products and functions.