Selling complex products is as involved as the back-end supply chain process. But selling has not yet evolved into an optimized business process like supply chain, organizing all the parts to reduce costs and create greater customer value. Like back end inventory and logistics systems a decade ago, selling is typically a compilation of discrete activities and supporting technologies, beginning with receiving a sales lead and ending with placing an order.
With the rise of the Internet as a selling tool in the late 1990s, many traditional retail channels were branded as "dinosaurs" and were thought to be facing certain extinction. While the effect of the Internet was exaggerated substantially, most of its impact is here to stay. A closer look at the automotive retailing industry provides valuable insights that can be applied across many industries.
How to recruit more top performers
Return on investment (ROI) is a financial calculation that indicates the degree to which benefits exceed the investment for a given project or initiative. ROI is applied to initiatives that utilize capital resources because unlike expenses, capital is used to acquire assets that have a longer term impact that will either help or hinder the organization as it operates in the future. The calculation of ROI is in the form of a ratio where benefits are in the numerator (top) and investment/costs are in the denominator (bottom). By itself, ROI is just a number.
Rethinking CRM is the next step in the technology's evolution
Many leading organizations have launched efforts to achieve "world-class sales." But what exactly does it mean to have a world-class sales organization?
Every company has its busy times of increased demand and stretched resources.
With increased competition in online and offline marketplaces, organizations are turning to CRM to attract and retain customers.
Your front-line managers can drive sales -- or drive away your best salespeople
What is the Real-Time Enterprise?
So how do managers know if their customers are getting top-notch customer service? One of the best ways for managers to keep their fingers on the pulse of business is through monitoring their contact center representatives to ensure effective, efficient, and professional customer service.
In the quest to implement a successful CRM initiative, executives should incorporate a product development philosophy for customers. However, this requires a change in thinking and a willingness to take a lifecycle view that incorporates five stages.
Measuring three key factors is just the starting point.
Incremental steps in CRM can help retailers thrive
Tips on successfully managing a contact center, regardless of size and complexity.
After the Account Aggregation Party of 2001: 10 Questions Financial Institutions Must Answer to Avoid a Hangover
Companies need to shift their focus from customer satisfaction as a measure of ROI to understanding the intrinsic value of individual customers. To do this, they need to examine the relationship between a company's investment in customer relationships and the returns that different customer segments generate in return for those investments.
A structured approach to allocating sales activities across sales channels and marketing and service roles can help CRM solutions work more effectively.
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