Whitepapers

About Customer Relationship Management (CRM)

Date: 28th September 2006
Author: Teng Chuan Hiang, Managing Partner and Founder of InterAktiv

What is CRM? The definition

First, CRM is neither technology nor is it something you can touch or feel. During the dotcom days, people starting thinking of CRM as technology. Those who have implemented CRM technology for the sake of technology (which is quite ironic but common) obviously had to find business challenges to solve to prevent it dying a natural death or becoming a white elephant. A classic mistake made by many organisations in implementing CRM solutions, is the ‘cart before the horse’ approach.

Customer Relationship Management is the way you do business with your customers supported by information, processes and most importantly the value-based relationship you have established with your customers over a period of time. What is not mentioned in this definition but critical to the success of every CRM programme is measurement. It was once said that if you cannot measure it you cannot improve it. We all want to do things better and deliver more with fewer resources and lower costs. Measurement of CRM performance is best supported by CRM technology and we will spend some time on this topic. [more..]