Electronic customer relationship management meaning and definition

eCRM - Wikipedia

electronic customer relationship management meaning and definition

One subset of Electronic CRM is Mobile CRM (mCRM). This is defined as " services that aim at nurturing customer relationships. As a business philosophy CRM is seen to be firmly rooted in the concept of rela- tionship marketing, which is aimed at improving long-run profitability by shifting. Electronic Customer Relationship Management E-CRM Definition - Electronic customer relationship management (E-CRM) is the application of Internet-based.. .

Individual personalization requires program changes. Individual has ability to customize view. System focus CRM — System created for internal use designed based on job function and products.

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Web applications designed for a single department or business unit. Web application designed for enterprise-wide use. System maintenance and modification CRM — More time involved in implementation and maintenance is more expensive because the system exists at different locations and on various servers.

Implementation and maintenance can take place at one location and on one server. E-loyalty results in long-term profits for online retailers because they incur less costs of recruiting new customers, plus they have an increase in customer retention.

Nenad Jukic et al. About customers preference information for actively answer knowledge and passively surfing record ways via website, email, questionnaire. This avoids multiple times to bother customers and redundant process.

Analysis helps company maintain a long-term relationship with customers. Due to improved communication technology, different departments in company implement intraorganizational or work with business partners interorganizational more efficiently by sharing information. Besides choosing one of these packages, companies can also choose to design and build their own solutions.

What is Electronic Customer Relationship Management (E-CRM)? - Definition from Techopedia

In order to implement CRM in an effective way, one needs to consider the following factors: Create a customer-focused culture in the organization.

Adopt customer-based managers to assess satisfaction. Develop an end-to-end process to serve customers. Recommend questions to be asked to help a customer solve a problem. Track all aspects of selling to customers, as well as prospects. Examples are transaction processing system TPS to process data real-time, which can then be sent to the sales and finance departments in order to recalculate inventory and financial position quick and accurately.

Once this information is transferred back to the CRM software and services it could prevent customers from placing an order in the belief that an item is in stock while it is not. Cloud solution[ edit ] Today, more and more enterprise CRM systems move to cloud computing solution, "up from 8 percent of the CRM market in to 20 percent of the market inaccording to Gartner".

Stores faced competition from on-line start-ups. Traditional bricks-and-mortar banks fought for customers with online or virtual banks.

Airline tickets were increasingly purchased from the convenience of your home. The explosion in information allowed consumers to compare features, and prices across multiple providers. Products became commodities and prices could not be lowered further to ensure survival. Customer service became the only major differentiator in many cases.

Customers received what they have always deserved — respect. The customer was now truly the king. Business customers, although always treated with more respect than individual consumers, were more or less ignored in the early stages of the Internet boom. The emphasis focused on expanding the consumer base regardless of positive cash flow, revenues, and margins.

The demise of many dot-coms brought an epiphany. Companies realized that they needed to focus on their enterprise customers.

electronic customer relationship management meaning and definition

The advent of e-CRM applications was the first big step toward providing better support to the strategic business customers. Although these solutions provided automated self-service to customers, they still treated all customers the same.

Furthermore, the focus of these applications is more on improving call-center productivity. Clearly, these applications add value and help many organizations execute their CRM initiatives.

electronic customer relationship management meaning and definition

Each enterprise customer has its own needs and craves personalized support. Evolution of Customer Relationship Management: Companies like Siebel and Vantive now part of PeopleSoft took the early lead by introducing tools to help the sales personnel become more efficient in tracking their customers.

There were also a few problem-tracking tools for help desk such as Remedy. As companies focused more on customer relationships, additional applications emerged in areas of customer support, field support, and marketing automation.

E-CRM: Meaning, Evolution and Benefits

Most CRM companies today a retrying to address these four areas usually by partnering with other companies. There are a number of niche players focused only on certain pieces of CRM such as e-mail management, sales force automation, technical support, marketing campaigns, among others.

CRM is not just an application or a technology that can be thrown at the customer satisfaction problem to make it go away. CRM, essentially, is a strategy that involves applications, processes, policies, business context, and people, to enable companies to manage and increase profitable relationships with their customers.

They want the vendor to understand their needs. They want companies to build a strong relationship with them — on a 1- to- 1 basis. There are currently over CRM software vendors and the number continues to grow.

What is Electronic Customer Relationship Management (eCRM)

Although, there are various types of applications included in CRM suites, as described earlier, the core application within the CRM landscape that truly builds customer relationships is the customer service application. Other pieces, though useful, are focused on helping the vendor rather than the customer. Many of these applications were initially focused on providing an environment to improve the productivity of call-centers.

In addition, some of these applications integrated message queuing functionality to provide a common environment for all channels. So, whether the customer was trying to reach the call-center by making a call, via e-mail, by fax, or through the Web site, their query is prioritized and channeled through the same mechanism.