Customer Relationship Management (CRM) (Coursework Sample)
❖ Microsoft Word document ONLY
❖ Include cover page with your name, course #, recitation section #, email, today’s date)
❖ Use a standard 12-point size font (e.g. Times New Roman, Arial).
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❖ Proof read and spell check & References/Citations (if any)
Based upon Chapter 2:
1. On average, it costs an organization six times more to sell to a new customer than to sell to an existing customer. As the co-owner of a medium-sized sports equipment distributor, you have recently been notified that sales for the past three months have decreased by an average of 20%. The reason for the decline in sales are numerous, including a poor economy and some negative publicity your company received regarding a defective product line.
A. Explain how implementing a Customer Relationship Management (CRM) system can help you understand and combat the decline in sales. Be sure to justify why a CRM system is important to your business and its future growth. [1-2 paragraphs] [20 pts.]
B. Search the Internet for at least one recent and authoritative article that compares and ranks customer relationship management systems. Select THREE packages from the list and compare their functions, features and cost (does not need to be exact) in the table format below. Also, find and list major points where companies that are using each package have reported their experiences, both good and bad in the table below. [20 pts.]source..
Customer Relationship Management (CRM)
Customer Relationship Management (CRM)
Using CRM to Understand and Combat the Decline in Sales
CRM systems work on the basis of relationship management as well as continuous communication with the customers to obtain feedback and gain knowledge about the buyers and segment them. In the real sense, CRM is a uniting tool that has the potential to bring the buyer and the seller together or closer and establish a long-term relationship between them. CRM is a precious tool that can simplify business management for any firm.
Implementation of the right CRM potentially increases sales efficiency. For instance, the business can close or enter into more deals, boost sales and enhance forecast accuracy. This tool can improve the productivity of this distributor business by up to 30%. CRM will manage the most decisive customer information in one place for the business to look. It will help us view the contact information, follow up via social media or email, manage tasks, as well as track our performance. Additionally, implementation of the CRM system within a business can help the business to clean its image and eventually improve the sales.
The CRM that can best suit this type of business (medium-sized sports equipment distributor) is the call center. This will help the distributor business establish more
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