Abstract
The area of CRM (Customer Relationship Management) has attracted a lot of attention, and many businesses who are end users of IT solutions have spent considerable amounts of money on implementing CRM systems integrated to a greater or lesser extent with their operational and business processes. However, what should be kept in mind is that CRM is a basic, common sense idea that can be put into practice with nothing more than a spreadsheet and a modest database. This chapter introduces the reader to CRM in terms of recency, frequency, and latency of customer activity, and in terms of the client life cycle: capturing new clients, potentiating and retaining existing clients, and winning back ex-clients. The chapter then discusses the relation of data analysis to each of the CRM phases and considers customer satisfaction and integrated CRM systems. Next, it briefly describes the characteristics of commercial CRM software products, and finally, the chapter examines example screens and functionality from a simple CRM application.
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