Customer relationship management

Published on Author Suchen

Customer Relationship Management ( CRM ) is an approach to managing a company’s interaction with current and potential customers . It uses data analysis about customers’ history with a company and to Improve business relationships with customers, SPECIFICALLY focusing is customer retention and sales growth Ultimately driving. [1]

One important aspect of the CRM approach is that it compiles data from a range of different communication channels , including a company’s website, telephone, email, live chat, marketing materials, and more recently, social media. [2] Through the CRM approach and the systems used to facilitate it, businesses learn more about their target audience and how to best manage their needs.

Software history

The concept of customer relationship management started in the early 1970s, when customer satisfaction was assessed using the annual surveys or by front-line asking. [3] At that time, businesses had to rely on standalone mainframe systems to automate sales, but the extent of technology allowed them to categorize customers in spreadsheets and lists. In 1982, Kate and Robert Kestnbaum introduced the concept of Database Marketing . [4] By 1986, Pat Sullivan and Mike Muhney released a customer evaluation system called ACT!based on the principle of digital rolodex, which offers a contact management service for the first time.

The trend Was Followed by Numerous developers try trying to maximize leads’ potential, Including Tom Siebel , Who signed the first CRM product , Siebel Systems in 1993. [5] Nevertheless, customer relationship management popularized in 1997 due to the work of Siebel, Gartner , and IBM . Between 1997 and 2000, leading CRM products were enriched with enterprise resource planning functions, and shipping and marketing capabilities. [6] Siebel introduces the first mobile CRM app called Siebel Sales Handheld in 1999. The idea of ​​a cloud-hosted and moveable customer bases at the time, including PeopleSoft , Oracle, and SAP. [7]

The first open-source CRM system was developed by SugarCRM in 2004. During this period, CRM was rapidly migrating to cloud, as it became more accessible to small and small businesses, and underwent a huge wave of price reduction. [6] Around 2009, developers made the most of the opportunities for social media momentum, and designed tools to help companies become accessible to all users’ favorite networks. Many startups at the time benefit from this trend to provide social CRM solutions, including Base and Nutshell . [6]The same year, Gartner organized and held the first Customer Relationship Management Summit, and summarized the features systems should offer CRM solutions. [8] In 2013 and 2014, most of the popular CRM products were linked to business intelligence systems and communication software to improve corporate communication and end-users’ experience. The leading trend is to replace standardized CRM solutions with industry-specific ones, or to make them customizable to meet the needs of every business. [9]

In November 2016, Forrester released a report where it “identified the most prominent CRM suites of eight prominent vendors,” among them companies such as Infor , Microsoft , and NetSuite. [10]

Types

Strategic

Strategic CRM is focused on the development of a customer-centric business culture. quote needed ]

Operational

The primary goal of customer relationship management is to integrate and automate sales, marketing, and customer support. Therefore, these systems typically have a dashboard that gives an overview of the three functions on a single customer view , a single page for each customer that a company may have. The dashboard may provide customer information, past sales, previous marketing efforts, and more, summarizing all of the relationships between the customer and the firm. Operational CRM is made up of 3 main components: sales force automation, marketing automation, and service automation. [11]

  • Sales force automation works with all stages in the sales cycle, from the beginning to the present. [12] It implements sales promotion analysis, automated tracking, marketing, call centers, and retail outlets. It prevents duplicate efforts between a salesperson and a customer and also automatically tracks all contacts and follow-ups between both parties. quote needed ]
  • Marketing automation focuses on the overall marketing process to make it more effective and efficient. CRM tools with marketing automation tools can automate repeated tasks, for example, sending out automated marketing emails at certain times to customers, or posting marketing information on social media. The goal with marketing automation is to turn to a full customer. CRM systems today also work on customer engagement through social media. [13]
  • Service automation is the part of the CRM system that focuses on direct customer service technology. Through service automation, customers are supported through multiple channels such as phones, email, knowledge bases, ticketing portals, FAQs, and more. [11]

Analytical

The role of analytical CRM is to analyze customer data collected through multiple sources, and it is possible that business managers can make more informed decisions. citation needed ] Analytical CRM systems use data mining, correlation, and pattern recognition to analyze the customer data. These analytics can be solved, perhaps, by a different audience audience. [11]For example, through the analysis of a customer base of buying behavior. After that, the company might think to market to this subset of consumers differently. [14]

Collaborative

The third primary aim of CRM systems is to include external stakeholders such as suppliers, vendors, and distributors, and the share of customer information across organizations. For example, feedback can be collected from technical support calls, which could help provide guidance for marketing and services. [15]

Components

The principal components of CRM are building and managing customer relationships through marketing, observing relationships, and managing the relationship between the various phases of the business process and recognizing that the distribution of value is not homogenous. When building and managing customer relationships through marketing, firms might benefit from using a variety of tools to help organizational design, incentive schemes, customer structures, and more to optimize the reach of its marketing campaigns. Through the acknowledgment of the distinct phases of CRM, businesses will be able to benefit from the interaction of multiple relationships and connected transactions. The final factor of CRM highlights the importance of CRM through accounting for the profitability of customer relationships.[16]

Relational Intelligence, or awareness of the customer relationship, is an important component of the main phases of CRM. Companies May be good at capturing demographic data , Such As gender, age, income, and education, and connecting em with purchasing information to categorize customers into Profitability third goal this is only a firm’s mechanical view of customer relationships. [17] This is therefore a sign firms believe That That customers are still Guide That Can Be used for up-sell or cross-sell Opportunities, Rather than humans looking for interesting and personalized interactions. [18]

CRM systems include:

  • Data warehouse technology, used to aggregate transaction information, CRM information, and key performance indicators.
  • Opportunity management which helps the company to manage a growth and demand, and implement a good forecasting model to integrate sales with sales projections. [19]
  • CRM systems that track and measure marketing campaigns over multiple networks, customer tracking by customer clicks and sales.
  • Some CRM software is available as a software as a service (SaaS), delivered via the internet and accessed via a web browser instead of being installed on a local computer. Businesses using the software do not buy it, but typically pay a recurring subscription fee to the software vendor. [11]
  • Software as a service Some CRM software is available as a platform with extensible features. These systems are often referred to as low code platforms.
  • For small businesses a CRM system can consist of a system manager that integrates emails, documents, jobs, faxes, and scheduling for individual accounts. [20] CRM systems available for specific markets (legal, financial) management frequently focus on event and relationship tracking as Opposed to financial return on investment (ROI).
  • CRM systems for eCommerce , focused on marketing automation tasks, like: cart rescue, re-engages users with email, customization.
  • Customer-centric relationship management (CCRM) is a nascent sub-discipline that focuses on customer preferences instead of customer leverage. CCRM aims to add value by engaging customers in individual, interactive relationships. [16]
  • For constituents, fundraising, sponsors’ demographics, membership levels, membership directories, volunteering and communication with individuals. [20]

Effect on customer satisfaction

Customer satisfaction has important implications for the economic performance of firms because it has the ability to increase customer loyalty and use behavior and reduce customer complaints and the likelihood of customer defection. [21] [22] The implementation of a CRM approach is likely to have an effect on customer satisfaction and customer knowledge for a variety of different reasons.

Firstly, firms are able to customize their offerings for each customer. [23] CRM applications help companies to customize their customer experience. [23] This customer perception is a determinant of customer satisfaction, it follows that CRM applications indirectly affect customer satisfaction. CRM applications also enable firms to provide timely, accurate processing of customer orders and requests and the ongoing management of customer accounts. [23]For example, Piccoli and how the Chat Applegate Wyndham uses IT tools to deliver a consistent service experience across icts various properties to a customer. Both improved ability and perceived positive quality, which in turn positively affects customer satisfaction. [24] Furthermore, CRM applications also help firms manage customer relationships more effectively across the stages of relationship initiation, maintenance, and termination. [25]

Customer benefits

With CRM systems customers are better served one day to day processes and with more reliable information Their demand of self service from companies will Decrease. If there is no need to interact with the company, the customer satisfaction level increases. [26] These central benefits of CRM will be connected to the three types of equity that are relationship, value and brand, and in the end to customer equity . Seven benefits were recognized to provide value drivers. [27]

  1. Enhanced ability to target profitable customers.
  2. Integrated assistance across channels
  3. Enhanced sales force efficiency and effectiveness
  4. Improved pricing
  5. Customized products and services
  6. Improved customer service efficiency and effectiveness
  7. Individualized marketing messages also called campaigns
  8. Connect customers and all channels on a single platform.

In 2012, after reviewing the previous studies, the results of which are more important in the following: [28]

  1. Improve customer services: In general, customers would have some questions, concerns or requests. CRM services provide the ability to a company for producing, allocating and managing requests or something made by customers. For example, call center software, which helps to connect a customer to the manager or person who can best assist them with their existing problem, is one of the CRM capabilities that can be implemented to increase efficiency. [29]
  2. Increased personalized service or one-to-one service: Personalizing customer service or one-to-one services to improve understanding and gaining knowledge of the customers and their customers’ preferences, requirements and demands.
  3. Responsive to customer’s needs: Customers’ situations and needs can be understood by the companies focusing on customer needs and requirements. [30]
  4. Customer segmentation: In CRM, segmentation is used to categorize customers, according to some similarity, such as industry, job or some other characteristics, to similar groups. [31] Although these characteristics, can be one or more attributes. It can be defined as a subdividing the customers based on already known good discriminator.
  5. Improve customization of marketing: Meaning of customization of marketing, the firm or organization adapts and changes its services or products based on a different product. With the purpose of ensuring that customer needs are met. Customization is used by the organization. Companies can put their products in the marketplace and their products can be marketed to their customers.
  6. Multichannel integration: Multichannel integration shows the point of creation of customer value in CRM. On the other hand, a successful multichannel integration successfully, is highly dependent on the organization’s ability to get together with information from all channels. [32]
  7. Time saving: CRM will allow us to interact with customers more frequently, and we will be able to understand them more quickly and more quickly. [33]
  8. Improve customer knowledge: Firms can make and Improve products and services through the information from tracking (eg via website tracking ) customer behavior to customer tastes and needs. [34] CRM could contribute to a competitive advantage in the firm’s ability to collect products and services.

Examples

Research has found a 5% increase in customer retention boosts lifetime customer benefits by 50% on average across multiple industries, as well as a boost of up to 90% within specific industries such as insurance. [35] Companies that have mastered customer relationship strategies have the most successful CRM programs. For example, MBNAEurope has had a 75% annual growth growth since 1995. The firm heavily invests in screening potential cardholders. Once customers are identified, the firm retains 97% of its profitable customers. They implement CRM by marketing the right products to the right customers. The firm’s customers’ rate is 52% above industry norm, and the average expenditure is 30% more per transaction. Also 10% of their account holders ask for information on cross-sale products. [35]

Amazon has also seen great success through its customer proposal. The firm implemented personal greetings, collaborative filtering, and more for the customer. They also used CRM training for the employees to see up to 80% of customers repeat. [35]

Improving CRM within a firm

Consultants, such as Bain & Company , argue that it is important for companies to build strong CRM systems to improve their relational intelligence. [36]According to this argument, a company must recognize that people have many different types of relationships with different brands. China, Germany, Spain, and the United States, with over 200 brands in 11 industries including airlines, cars and media. This information is valuable as it is demographic, behavioral, and value-based customer segmentation. These types of relationships can be both positive and negative. Some customers view themselves as friends of the brands, while others are enemies, and some are mixed with a love-hate relationship with the brand. Some relationships are distant, intimate or anything in between. [18]

Analyzing the information

Managers must understand the different reasons for the types of relationships, and provide the customer with what they are looking for. Companies can collect this information by using surveys , interviews and more, with current customers. For example, Frito-Lay conducted many ethnographic interviews with customers to try and understand the relationships they wanted with the companies and the brands. They found that they were adults who used the product to feel more playful. They may have enjoyed the company’s bright orange color, messiness and shape. [37]

Companies also need to improve their intelligence systems. These days, companies store and receive huge amounts of data through emails , online chat sessions, phone calls, and more. [38] Many companies do not properly make use of this large amount of data, however. All of these are indicative of what types of relationships can be relied upon by the firm, and can companies consider their relational intelligence. [17] Companies can use data miningtechnologies and web searches to understand relational signals. Social media such as Facebook, Twitter, blogsetc. is also a very important factor in picking up and analyzing information. Understanding the customer and capturing this data enables the customer to understand the information and the customer. [37]

It is also important to analyze all of this information which is most valuable. This helps convert data into profits for the firm. Stronger bonds contribute to the building market share . By managing different portfolios for different segments of the customer base, the firm can achieve strategic goals. quote needed ]

Employee training

Many firms have already implemented training programs to teach employees how to recognize and effectively create customer-brand relationships. For example, Harley Davidson feels its employees on the road with customers, who were motorcycle enthusiasts, to help solidify relationships. Other employees have also been trained in social psychology and the social sciences to help clients. Customer service representatives must be educated to value customer relationships and trained to understand existing customer profiles. Even the finance and legal departments should understand how to manage and build relationships with customers. [39]

Application

Applying new technologies while using CRM systems requires changes in infrastructure of the organization as well as deployment of new technologies such as business rules, databases and information technology . [37]

In practice

Call centers

Contact Center CRM providers are popular for small and mid-market businesses. These systems codify the interactions entre company and customers by using analytics and key performance indicators to give users the information they where to focus marketing and Their customer service. This allows agents to have access to a history of providing personalized customer communication. The intention is to maximize average revenue per user , decrease churn rate and decrease idle and unproductive contact with the customers. [40] [41] [42]

Growing in popularity is the idea of ​​gamifying, or using game design elements and game principles in a non-game environment such as customer service environments. The gamification of customer service and the relationship between the customer and the customer. [43] Gamification tools can motivate agents by tapping into their desire for reward, recognition, achievements, and competition. [44]

Contact center automation

Contact center automation , the practice of having an integrated system that contacts contacts between an organization and the public, is designed to reduce the repetitive and tedious parts of a contact center agent’s job. Automation prevents this by having pre-recorded audio messages that help customers solve their problems. For example, an automated contact center may be able to re-route a customer through a series of commands to a certain number of contacts in the field a question. [45] Software tools can also integrate with the agent’s desktop tools to handle customer questions and requests. This is also the time of the employees. [13]

Social media

Social CRM involves the use of social media and technology to engage and learn from consumers. [46] Because of the public, especially among young people, these companies use [18] these sites to draw attention to their products, services and brands, with the aim of building up customer relationships to increase demand.

Some social media systems like Twitter, LinkedIn and Facebook to track and communicate with customers. These customers also share their own opinions and experiences with a company of products and services, Therefore, these firms can both share their own opinions and also track the opinions of their customers. [15]

Enterprise feedback management software platforms, such as Confirmed, Medallia, and Satmetrix, combines internal survey data with trends in social media. [47]

Location-based services

CRM systems can also include technologies that create geographic marketing campaigns. The systems are based on customer support and integration with popular location-based GPS applications. It can be used for networking or contact management. [13]

Business-to-business transactions

Despite the general notion that CRM systems have been created for the customer-centric businesses, they can also be applied to B2B environments to streamline and improve customer management conditions. For the best level of CRM in a B2B environment, the software must be personalized and delivered at individual levels. [48]

The main differences entre business-to-consumer (B2C) and business-to-business CRM systems concern aspects like sizing of contacts databases and length of relationships. [49]Business-to-business companies tend to have smaller contact databases than business-to-consumer, the volume of sales in business-to-business is relatively small. There are fewer proposals in business-to-business, but in some cases, they are more likely than business-to-consumer items and business-to-business relationships are built over a longer period of time. Furthermore, business-to-business CRM must be easily integrated with products from other companies. Such integration enables the creation of forecasts on customer behavior based on their history, bills, business success, etc. An application for a business-to-business company must have a function to connect all the contacts, processes and deals among the customers segment and then prepare a paper. Automation of sales is an important requirement for business-to-business products. It should be able to manage the deal and progress through the phases towards signing. Finally, a crucial point is personalization. It helps the business-to-business company to create and maintain strong and long-lasting relationships with the customer.

CRM market

The overall CRM market grew by 12.3 percent in 2015. [50] published in Gartner studies. [50] [51] [52] [53]

Vendor 2015 Revenue ($ M) 2015 Share (%) 2014 Revenue ($ M) 2014 Share (%) 2013 Revenue ($ M) 2013 Share (%) 2012 Revenue ($ M) 2012 Share (%)
Salesforce.com CRM 5.171 19.7 4,250 18.4 3,292 16.1 2,525 14.0
SAP AG 2,684 10.2 2,795 12.1 2,622 12.8 2,327 12.9
Oracle 2,047 7.8 2,102 9.1 2,097 10.2 2,015 11.1
Microsoft Dynamics CRM 1,142 4.3 1,432 6.2 1,392 6.8 1,135 6.3
Others 15.245 58.0 12.520 54.2 11.076 54.1 10.086 55.7
Total 26.287 100 23,100 100 20.476 100 18.090 100

The four vendors with Largest CRM system offerings are Salesforce , SAP , Oracle , and Microsoft , qui Represented 42 percent of the market in 2015. [50] Other providers aussi are popular for small and mid-market businesses. Enterprise CRM Suite, Midmarket CRM Suite, Small Business CRM Suite, sales force automation , incentive management, marketing solutions, business intelligence , data quality , consulting ). Additionally, applications often focus on professional fields such as healthcare, manufacturing , and other areas with branch-specific requirements. quote needed ]

Market trends

In the Gartner CRM Summit 2010 challenges like “social networks”, “social networking” and “social networking”. [54] Many CRM vendors offer subscription-based web tools ( cloud computing ) and SaaS. Some CRM systems are equipped with mobile capabilities, making information accessible to remote sales staff. [55] Salesforce.com was the first company to provide enterprise applications through a web browser, and has maintained its leadership position. [56]

Traditional providers-have recently Moved into the cloud-based market via acquisitions of smaller providers: Oracle purchased this RightNow in October 2011 [57] and SAP Acquired SuccessFactors in December 2011. [58]

The era of the “social customer” [59] refers to the use of social media ( Twitter , Facebook , LinkedIn , Google Plus , Pinterest , Instagram , Yelp , customer reviews in Amazon , etc.) by customers. CRM philosophy and strategy with social networks and user communities.

Sales forces also play an important role in CRM, as they are maximizing sales effectiveness and increasing sales productivity is a driving force behind the adoption of CRM. Empowering sales managers was listed as one of the top 5 CRM trends in 2013. [60]

Another related development is vendor relationship management (VRM), which provides tools and services that allow them to manage their individual relationship with vendors. VRM development has grown out of its efforts by ProjectVRM at Harvard’s Berkman Center for the Internet & Society and Identity Commons ‘ Internet Identity Workshops, as well as a growing number of startups and established companies. VRM was the subject of a cover story in the May 2010 issue of CRM Magazine. [61]

Pharmaceutical companies have been one of the first investors in sales force automation (SFA) and some are on their third- or fourth-generation implementations. However, until recently, the deployments did not extend beyond SFA-limiting their scope and interest to Gartner analysts. [62]

Another trend worth noting is the rise of Customer Success as a discipline within companies. More and more companies establish Customer Success Teams and Sales Teams. This trend is one of the most important features of the marketplace. [63] As a result, a growing number of new entrants enter the market, while existing vendors add capabilities in this area to their suites. In 2017, artificial intelligence and predictive analytics were identified as the newest trends in CRM. [64]

Criticism

See also: anonymization and customer rights

Companies face large challenges when trying to implement CRM systems. Consumer companies frequently manage their customer relationships haphazardly and unprofitably. [65] They may not effectively or adequately use their connections with their customers, or misunderstandings or misinterpretations of a CRM system’s analysis. Clients who want to be treated more than just a party, rather than a single individual, due to, sometimes, a lack of a bridge between the CRM data and the CRM analysis output. Many studies show that they are frequently frustrated by a company in their relationship expectations, and on the other side, that they do not know how to do this.[18] In 2003,Gartner reported that more than $ 2 billion had been spent. According to CSO Insights, less than 40 percent of 1,275 companies had higher end-user adoption rates above 90 percent. [66] Many corporations only use CRM systems on a partial or fragmented basis. [67] In a 2007 survey of the UK, four-fifths of senior executives reported that their biggest challenge is getting their staff to use the systems they had installed. 43 percent of respondents said that they do not use the functionality of their existing systems. [68] However, market research regarding consumers ‘preferences may increase the adoption of CRM among the developing countries’ consumers.[69]

Collection of customer data as it is identifiable information must strictly obey customer privacy laws , which often requires additional information on legal support.

Part of the paradox with CRM stems from the challenge of determining exactly what CRM is and what it can do for a company. [70] CRM paradox, also referred to as “Dark side of CRM”, [71]may favor favoritism and differential treatment of some customers. This may cause perceptions of unfairness among other customers’ buyers. They may opt out of relationships, spread negative information, or engage in misbehavior that may damage the firm and its reputation. Such perceived inequality may cause dissatisfaction, mistrust and result in unfair practices. A customer shows trust when he or she engages in a relationship with a firm under the idea that the firm is acting fairly and adding value to his or her life somehow. However, customers may not trust that firms will be fair in their services. For example, Amazon’s use of dynamic pricing for different customers.[72] As seen in the Amazon example, the use of CRM and the assessment of a CRM process, experts in the management of CRM, effort on organizational changes within a company, which often affects customer satisfaction. [73]

CRM technologies can easily become ineffective if they are not proper management. The data sets must also be connected, distributed, and organized properly, so that users can access the information that they need quickly and easily. Research studies are also becoming more popular with people who are not familiar with their experiences. They also request and request multiple channels of communication with a company, and these channels must transfer information seamlessly. Therefore, it is important to provide a cross-channel customer experience that can be both reliable and reliable. [13]

See also

  • Comparison of CRM systems
  • Corporate social responsibility
  • CRM systems directory
  • History of marketing
  • Relationship marketing
  • Socially responsible marketing
  • Sustainable market orientation
  • Vendor relationship management

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  36. Jump up^ “Dozen Simple Ways to Improve Customer Relations – Today’s Enterprise Apps” . www.enterpriseappstoday.com . Retrieved 23 November 2015 .
  37. ^ Jump up to:c Avery, Jill. (2014). “Unlock the Mysteries of Your Customer Relationships”, Harvard Business Review. August 2014. https://hbr.org/2014/07/unlock-the-mysteries-of-your-customer-relationships Retrieved: 20 November 2015
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  39. Jump up^ “9 Ways to Improve Your Company’s CRM System” . CIO . Retrieved 23 November 2015 .
  40. Jump up^ SAP Insider (15 November 2007)Still Struggling to Reduce Call Costs Without Losing Customers?
  41. Jump up^ Genesys. “What Is Contact Center CRM?” .
  42. Jump up^ Network World. “The contact center and CRM collision leads to a new dominant species” .
  43. Jump up^ “Gamification Comes to the Contact Center” . CRM Magazine . Retrieved 26 November 2015 .
  44. Jump up^ “CRM in Customer Service” . CRM Magazine . Retrieved 22 November2015 .
  45. Jump up^ “Contact center automation takes flight” . SearchCRM . Retrieved 26 November 2015 .
  46. Jump up^ “7 CRM Ways Can Increase Your Sales [Infographic]” . Salesforce Blog . Retrieved 23 November 2015 .
  47. Jump up^ Prasongsukarn, Kriengsin (2006). “Customer Relationship Management from Theory to Practice: Implementation Steps”. Inspire Research Company .
  48. Jump up^ Rebekah Henderson,B2B Insights(2013)How to build a B2B-friendly CRM
  49. Jump up^ “Marketing B2B: What Makes It Special? | B2B International” . B2B International . Retrieved 22 November 2015 .
  50. ^ Jump up to:c Columbus, Louis (28 May 2016). “2015 Gartner CRM Market Share Analysis Shows Salesforce In The Lead, Growing Faster Than Market” . Forbes . Retrieved 22 August 2016 .
  51. Jump up^ Columbus, Louis (22 May 2015). “Gartner CRM Market Share Update: 47% Of All CRM Systems Are SaaS-Based, Salesforce Accelerates Lead” . Forbes . Retrieved 22 August 2016 .
  52. Jump up^ Columbus, Louis (6 May 2014). “Gartner CRM Market Share Update: 41% Of CRM Systems Are SaaS-based, Salesforce Dominating Market Growth” . Forbes . Retrieved 22 August 2016 .
  53. Jump up^ Columbus, Louis (26 April 2013). “2013 CRM Market Share Update: 40% Of Systems CRM Sold Are SaaS-Based” . Forbes . Retrieved 22 August 2016 .
  54. Jump up^ CRM Trends in Insurance IndustryTrends CRM in Insurance Industry: April 2010
  55. Jump up^ “Integrating your Phone Systems with your CRM – Manage Your Sales and Customer Effectively – Hybrid TP” . Hybrid TP . Retrieved 30 November 2015 .
  56. Jump up^ Put Cloud CRM to Work PC World: April 2010
  57. Jump up^ Oracle Buys Cloud-based Customer Service Company RightNow For $ 1.5 Billion Techcrunch: 24 October 2011
  58. Jump up^ SAP Oracle Challenges With $ 3.4 Billion SuccessFactors PurchaseBloomberg Businessweek: 7 December 2011
  59. Jump up^ Greenberg, Paul (2009). CRM at the Speed ​​of Light (4th ed.). McGraw Hill. p. 7.
  60. Jump up^ “Top 5 CRM Trends for 2013” . Enterprise Apps Today . Retrieved 7 June 2013 .
  61. Jump up^ Destinationcrm.com CRM Magazine: May 2010
  62. Jump up^ “Gartner’s Top 54 CRM Case Studies, Sorted by Industry, for 2005” . Retrieved 20 May 2005 .
  63. Jump up^ Nirpaz G., Pizarro F., Farm Do not Hunt: The Definitive Guide to Customer Success, March 2016, p. 101
  64. Jump up^ CMS Wire. “7 Top CRM Trends for 2017: A Look Ahead” .
  65. Jump up^ “CRM and ERP: What’s The Difference?” . CRM Switch . Retrieved 26 November 2015 .
  66. Jump up^ “Demystifying CRM Adoption Rates” . CRM Magazine . 1 July 2006 . Retrieved 22 November 2015 .
  67. Jump up^ It’s all about the Customer, Stupid – The Importance of Customer Centric Partners.
  68. Jump up^ Jim Dickie,CSO Insights(2006) Demystifying CRM Adoption Rates.
  69. Jump up^ Joachim, David. “CRM tools improve access, usability.” (cover story) B to B87, no. 3 (11 March 2002).
  70. Jump up^ Monica Law; Theresa Lau; YH Wong (2003). “From customer relationship management to customer-managed relationship: unraveling the paradox with a co-creative perspective” . Marketing Intelligence & Planning . 21 (1): 51-60. doi : 10.1108 / 02634500310458153 – via EmeraldInsight.
  71. Jump up^ http://www.emeraldinsight.com/doi/abs/10.1108/07363761311290812
  72. Jump up^ Hasan, MR; Rahman, M .; Khan, MM (2013). “Rural Consumers’ Adoption of CRM in a Developing Country Context” . International Journal of Business and Management Invention (IJBMI) . 2 (9): 121-131. [1].
  73. Jump up^ “Gale – Enter Product Login” . galegroup.com .