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IST309 Power Point for a Term Project
The Power Point of other Members:
· It uses data analysis about customers’ history with a company to improve business relationships with customers, specifically focusing on customer retention and ultimately driving sales growth.
· CRM helps companies acquire new customers and retain and expand their relationships with profitable existing customers. Retaining customers is particularly important because repeat customers are the largest generator of revenue for an enterprise. Also, organizations have long understood that winning back a customer who has switched to a competitor is vastly more expensive than keeping that customer satisfied in the first place.
· The goal is simple: Improve business relationships. A CRM system helps companies stay connected to customers, streamline processes, and improve profitability.
· A CRM system gives everyone from sales, customer service, business development, recruiting, marketing, or any other line of business a better way to manage the external interactions and relationships that drive success. A CRM tool lets you store customer and prospect contact information, identify sales opportunities, record service issues, and manage marketing campaigns, all in one central location and make information about every customer interaction available to anyone at your company who might need it.
· Some of the biggest gains in productivity can come from moving beyond CRM as a sales and marketing tool, and embedding it in your business from HR to customer services and supply-chain management
The outline of the Term project:
Introduction of the specific topic
Customer Relationship Management
As a group, we will be explaining how customer relationship management is a customer-focused and customer-driven organizational strategy. Elaborate on how modern CRM systems can build sustainable long-term customer relationships that can create value for both companies and their customers. In addition, to helping many companies acquire new customers while also retaining and expanding their relationships with advantageous existing customers. Overall, this topic is an approach to manage a companys interaction with current and potential customers. It uses data analysis about customers history with a company to improve business relationships with customers. It specifically focuses on customer retention and driving sales growth. The reason this is important and relevant to our class is because businesses data is used to see what customers like and dont like. Businesses use this because sales tend to improve overall when they use CRM.
Tentative milestone/schedule of the project.
Selected helpful Web Resources:
· INFORMS: http://www.informs.org/
· Management Information Systems Research: http://www.brint.com/ISResearch.htm
· MIS Web Resource: http://www.bus.iastate.edu/mennecke/server/courses/MIS.htm
· CNET Tech News: http://news.cnet.com ; ZD Net News: http://www.zdnet.com
· CNN Technology News: http://www.cnn.com/TECH
