CRM may be used with past, present or potential customers. ==Software history== The concept of customer relationship management started in the early 1970s, when customer satisfaction was evaluated using annual surveys or by front-line asking.
In 1982, Kate and Robert D.
By 1986, Pat Sullivan and Mike Muhney released a customer evaluation system called ACT! based on the principle of digital Rolodex, which offered a contact management service for the first time. The trend was followed by numerous companies and independent developers trying to maximize leads' potential, including Tom Siebel, who designed the first CRM product Siebel Systems in 1993.
By 1986, Pat Sullivan and Mike Muhney released a customer evaluation system called ACT! based on the principle of digital Rolodex, which offered a contact management service for the first time. The trend was followed by numerous companies and independent developers trying to maximize leads' potential, including Tom Siebel, who designed the first CRM product Siebel Systems in 1993.
For example, MBNA Europe has had a 75% annual profit growth since 1995.
inquiry, activity management) as CRM features in their ERP. Customer relationship management was popularized in 1997, due to the work of Siebel, Gartner, and IBM.
Between 1997 and 2000, leading CRM products were enriched with shipping and marketing capabilities.
Siebel introduced the first mobile CRM app called Siebel Sales Handheld in 1999.
Between 1997 and 2000, leading CRM products were enriched with shipping and marketing capabilities.
In 2003, a Gartner report estimated that more than $2 billion had been spent on software that was not being used.
The idea of a stand-alone, cloud-hosted and moveable customer bases was soon adopted by other leading providers at the time, including PeopleSoft, Oracle, SAP and Salesforce.com. The first open-source CRM system was developed by SugarCRM in 2004.
In a 2007 survey from the UK, four-fifths of senior executives reported that their biggest challenge is getting their staff to use the systems they had installed.
Around 2009, developers began considering the options to profit from social media's momentum and designed tools to help companies become accessible on all users' favourite networks.
Additionally, applications often focus on professional fields such as healthcare, manufacturing, and other areas with branch-specific requirements. ==Market trends== In the Gartner CRM Summit 2010 challenges like "system tries to capture data from social networking traffic like Twitter, handles Facebook page addresses or other online social networking sites" were discussed and solutions were provided that would help in bringing more clientele.
VRM was the subject of a cover story in the May 2010 issue of CRM Magazine. Pharmaceutical companies were some of the first investors in sales force automation (SFA) and some are on their third- or fourth-generation implementations.
The following table lists the top vendors in 2012-2018 (figures in millions of US dollars) published in Gartner studies. The four largest vendors of stand-alone or embedded CRM system offerings are Salesforce, SAP, Oracle, and Microsoft, which represented 42 percent of the market in 2015.
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.
Empowering sales managers was listed as one of the top 5 CRM trends in 2013. Another related development is vendor relationship management (VRM), which provide tools and services that allow customers to manage their individual relationship with vendors.
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 following table lists the top vendors in 2012-2018 (figures in millions of US dollars) published in Gartner studies. The four largest vendors of stand-alone or embedded CRM system offerings are Salesforce, SAP, Oracle, and Microsoft, which represented 42 percent of the market in 2015.
As of February 2017 there were about twenty companies selling such systems and revenue for them was around US$300 million. == Components == The main components of CRM are building and managing customer relationships through marketing, observing relationships as they mature through distinct phases, managing these relationships at each stage and recognizing that the distribution of the value of a relationship to the firm is not homogeneous.
In 2017, artificial intelligence and predictive analytics were identified as the newest trends in CRM. ==Criticism== Companies face large challenges when trying to implement CRM systems.
For the best level of CRM operation in a B2B environment, the software must be personalized and delivered at individual levels. The main differences between business-to-consumer (B2C) and business-to-business CRM systems concern aspects like sizing of contact databases and length of relationships. ==CRM market== The overall CRM market was valued at USD 54.64 billion in the year 2020.
The market is projected to grow from USD 58.04 billion in 2021 to USD 128.97 billion in 2028.
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