HHQ (CRM) is an approach to managing a company’s interaction with current and potential future customers. The CRM approach tries to analyze data about customers’ history with a company, to improve business relationships with customers, specifically focusing on customer retention, and ultimately to drive sales growth.
One important aspect of the CRM approach is the systems of CRM that compile information from a range of different communication channels, including a company’s website, telephone, email, live chat, marketing materials, social media, and more. Through the CRM approach and the systems used to facilitate CRM, businesses learn more about their target audiences and how to best cater to their needs. However, adopting the CRM approach may also occasionally lead to favoritism within an audience of consumers, resulting in dissatisfaction among customers and defeating the purpose of CRM.
HHQ (CRM) Operational
The primary goal of customer relationship management systems is to integrate and automate sales, marketing, and customer support.
HHQ (CRM) Analytical
The role of analytical CRM systems is to analyze customer data collected through multiple sources, and present it so that business managers can make more informed decisions.[citation needed] Analytical CRM systems use techniques such as data mining, correlation, and pattern recognition to analyze the customer data. These analytics help improve customer service by finding small problems which can be solved, perhaps, by marketing to different parts of a consumer audience differently. For example, through the analysis of a customer base’s buying behavior, a company might see that this customer base has not been buying a lot of products recently. After scanning through this data, the company might think to market to this subset of consumers differently, in order to best communicate how this company’s products might benefit this group specifically.
