III Executive Summary
In the past, CRM (Customer Relationship Management) was seen more clearly as a
strategic tool in conjunction with technological progress. Now more and more
companies use CRM to earn benefits. It helps to understand, manage and develop
customer-specific analyses in order to increase customer loyalty and customer
satisfaction. The fast-growing market of the different CRM systems is becoming more
and more obscure but also more and more interesting for medium sized enterprises.
This implementation promises to survive in the market and achieve a competitive
advantage.
This thesis therefore aims to create a guideline to set aside to a number of clients
that helps the clients of medium sized companies to get a sufficient overview of the
whole situation around the subject of CRM. Relevant information about the variety of
systems, conditions and requirements of using CRM within an enterprise will be
provided. In addition, the positive and negative aspects of CRM will be mentioned in
this report.
Based on the findings this report will clarify the question which economic strategy is
correct or preferred for medium sized companies. Many providers offer companies to
rent their CRM system during the first steps of implementation rather than to buy it.
This offers the possibility to optimise one’s own corporate strategy with regard to the
procedure which will change a corporate strategy by implementation of a CRM
system.
The prerequisites of successful implementation consist of many different changes
within the company. These changes are the key factors to a successful and profitable
decision about the failure or success of the strategy in the market.
To round off the issue of the topic, customer satisfaction, customer loyalty and
changes in consumer behaviour will be analysed. To benefit from a customer it is
particularly important to understand this first. It is advantageous to monitor and track
changes in the consumer behaviour and to be prepared at the next step or be one
step ahead.
Finally, the downsides, risks, benefits and opportunities of the CRM implementation
will be analysed and evaluated at the end. Also, a recommendation is offered for the
approach of medium sized companies within the implementation-stage.
Inhaltsverzeichnis (Table of Contents)
- Table of Abbreviations
- Table of Figures
- Executive Summary
- Aims and Objectives
- Definition
- CRM
- MSE-Medium-sized Enterprises
- CRM
- CRM-Life cycle
- CRM-Systems
- CRM technologies
- Operative CRM (OCRM)
- eCRM
- MCRM
- EAI
- Analytical CRM (aCRM)
- Data Warehouse
- Online Analytical Processing (OLAP)
- Data Mining
- Collaborative CRM
- Goals of CRM
- Customer-related objectives
- Business-related objectives
- Strategic, product-specific and financial goals
- CRM market
- Operative CRM (OCRM)
- Requirements for a successful CRM implementation
- Change Management
- Business process optimisation (organisation)
- Customer Relationship Strategy
- Corporate Culture
- Employees
- CRM system
- CRM Rent or Buy
- CRM OnDemand
- CRM On Premise
- Cost and decision criteria
- Customer - The meaning of customer satisfaction
- Aspects of customer loyalty
- The change in consumer behaviour
- Downsides and Risks
- Downsides of CRM implementation
- Strategic and conceptual Resistors
- Management resistance
- Employee's resistance
- Customer resistance
- Other downsides
- Risks of CRM implementation
- Downsides of CRM implementation
- Benefits and Chances
- Benefits of CRM implementation
- Chances of CRM implementation
- Trends of CRM
- mCRM
- CRM 2.0 (Social CRM)
- eCRM
- CRM on Demand
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This project aims to provide an in-depth analysis of Customer Relationship Management (CRM) systems, exploring both their potential benefits and downsides for businesses. The focus lies on understanding the implementation and application of CRM within the context of Medium-sized Enterprises (MSEs). Key themes explored in this project include:- Understanding the various definitions and applications of CRM.
- Analyzing the different types of CRM technologies, including Operational, Analytical, and Collaborative CRM.
- Exploring the crucial requirements for successful CRM implementation, encompassing change management, business process optimization, and employee engagement.
- Evaluating the advantages and disadvantages of adopting a CRM system, including considerations for both on-premise and on-demand solutions.
- Examining the evolving trends in CRM, specifically focusing on mCRM, CRM 2.0 (Social CRM), and eCRM.
Zusammenfassung der Kapitel (Chapter Summaries)
This section provides summaries of the chapters covered in the report:- **Chapter 1: Aims and Objectives**: This chapter outlines the project's purpose and specific objectives, focusing on analyzing CRM implementation in the context of MSEs.
- **Chapter 2: Definition**: This chapter provides a comprehensive definition of CRM and defines the target group of MSEs, setting the foundation for the subsequent analysis.
- **Chapter 3: CRM**: This chapter delves into the CRM lifecycle, explaining its different phases and the associated strategies. It also explores the diverse functionalities and components of various CRM systems.
- **Chapter 4: CRM technologies**: This chapter presents a detailed classification of different CRM technologies, including Operative, Analytical, and Collaborative CRM, along with specific sub-categories like eCRM, MCRM, and EAI.
- **Chapter 5: Requirements for a successful CRM implementation**: This chapter identifies key factors for effective CRM implementation, such as change management, business process optimization, customer relationship strategy, corporate culture, employee engagement, and the selection of an appropriate CRM system.
- **Chapter 6: CRM Rent or Buy**: This chapter investigates the decision-making process regarding CRM implementation, comparing the advantages and disadvantages of on-demand and on-premise solutions.
- **Chapter 7: Customer - The meaning of customer satisfaction**: This chapter delves into the concept of customer satisfaction, exploring aspects of customer loyalty and the changing dynamics of consumer behaviour.
- **Chapter 8: Downsides and Risks**: This chapter focuses on the potential downsides and risks associated with CRM implementation, highlighting strategic and conceptual resistors, management resistance, employee resistance, customer resistance, and other potential drawbacks.
- **Chapter 9: Benefits and Chances**: This chapter explores the numerous benefits and opportunities that CRM implementation can bring to businesses, analyzing its impact on customer relationships, business processes, and overall strategic objectives.
- **Chapter 10: Trends of CRM**: This chapter examines the emerging trends in CRM, including mCRM, CRM 2.0 (Social CRM), eCRM, and CRM on Demand, providing insights into the future direction of this field.
Schlüsselwörter (Keywords)
This project focuses on the multifaceted aspects of Customer Relationship Management (CRM) and its impact on businesses, particularly medium-sized enterprises (MSEs). Key concepts investigated include: CRM lifecycle, CRM systems, CRM technologies (eCRM, MCRM, EAI, aCRM, Data Warehouse, OLAP, Data Mining, Collaborative CRM), change management, business process optimization, customer relationship strategy, corporate culture, employee engagement, CRM implementation, on-demand solutions, on-premise solutions, customer satisfaction, customer loyalty, consumer behavior, downsides, risks, benefits, chances, and emerging trends in CRM like mCRM, CRM 2.0 (Social CRM), and eCRM.- Quote paper
- MSc./ Dipl. Jan Heyn (Author), 2010, CRM – optimize your company: Benefits and downsides of implementing CRM systems, Munich, GRIN Verlag, https://www.grin.com/document/192564
