Managing customer relationships profitably is a challenge many businesses face. Increasingly available information and customer choices translate into a decrease in automatic loyalty. New distribution and communication channels create more complex customer interactions. Implementing powerful technology enablers may be prohibitively expensive for many firms.
Small and medium businesses (SMBs) continue to fuel demand for customer relationship management (CRM) systems, and more software firms are stepping up to offer appropriate technologies. SMBs, defined as companies with 1,000 or fewer employees, are searching for CRM solutions that will allow them to satisfy customers, control costs, and comply with various government regulations. But when choosing CRM software, it’s important to keep in mind that the needs of small and medium businesses aren’t always the same.
This white paper examines the details of how to gain improved customer retention and acquisition for a lower overall investment by defining basic CRM functionality needed by most organizations to achieve their customer goals and objectives.
Credit Union Times is the nation's leading independent source for breaking news and analysis for credit union leaders. For more than 20 years, Credit Union Times has set the standard for editorial excellence and ethical, straight-forward reporting.