Why Mindshare? - Glossary

 

CRM:

Customer Relationship Management (or CRM) is at the heart of trying to understand and track each customer's wants, needs, and preferences over time. But what are 95% of CRM systems missing? The actual customer experience! Many companies have built elaborate CRM systems that tell them all about a customer's history, and their likes and dislikes, but do not tell them if customers got what they expected from their most recent experience. Never mistake CRM for real-time customer feedback.

Many companies see CRM systems as simply a software solution to keeping track of customers. However, successful companies will view customer relationship management as a way to really put the customer's needs and desires first, on all levels of a company's interactions with their customers.

Customer Relationship Management entails analysis, data collection, and survey reporting at every brand touch point. This includes surveys and reporting on front line operations such as face to face, customer-to-employee interactions, emails, and phone conversations, as well as back office operations, which include marketing, advertising, billing, maintenance, and finance operations, and interactions with suppliers, vendors, and business-to-business operations.