CRM

CRM is an abbreviation for Customer Relationship Management and by definition means customer relationship management. The focus is on shaping all relationships and interactions of a company with existing and potential customers to increase the closing rate and boost order volume.

Customer Relationship Management distinguishes between four basic types:

• Analytical CRM
  Analytical CRM is used to evaluate collected customer data. The goal is to better assess specific customer behaviors and their purchasing potential.
• Operational CRM
  Operational CRM is integrated before and after analytical CRM. Initially, relevant customer data (personal data) is collected for analysis using operational CRM (mailings, phone calls). Based on the evaluation, a targeted customer relationship management is developed. The data obtained from this is then analyzed again. This continuously adjusts and refines customer communication.
• Communicative CRM
  Communicative CRM refers to direct customer contact, usually via multiple communication channels (phone, social media, email, letter, fax, personal conversation). The aim is to find out which channel is best for reaching the customer in question.
• Collaborative CRM
  Collaborative CRM describes the cooperation of several companies in customer relationship management. Here, companies that are at different positions in the same value chain combine their forces and address their customers specifically with a unified objective – but with clearly defined responsibilities.