A Framework for CRM

This chapter aims to develop a framework for CRM in order to understand CRM concepts and ecosystem better. To achieve this aim, this chapter starts with giving definitions of CRM from different perspectives. Reviewing the definitions of CRM reveals the essential pillars of CRM implementation. A well-developed CRM implementation framework can help companies see the big picture and develop successful CRM implementations. This chapter explains the vision and strategy; customer value proposition and customer experience; organizational culture and customer centric processes; and enabling technologies and information management as the fundamental components of a successful CRM initiative. After mentioning the benefits of CRM implementations, this chapter continues with analysing the architecture of the CRM ecosystem. Key functionalities and the role of analytical, operational, and collaborative CRM in managing relationships are also clarified. This chapter ends up with discussing the functionalities of CRM technologies in understanding customers, customer targeting, customer acquisition and retention, and customer service and support.