Customer Relationship Marketing

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Customer Relationship Marketing

Literature Review
The Evolving Sales and Marketing Landscape
Marketing and business development professionals are confronting a rapidly different and changing business landscape. The traditional business model that was once the standard is now being transformed due to technology drivers that make advanced marketing and sales capabilities possible.
The business model of yesterday supported mass marketing, mass production, and standardized cookie-cutter products and services. Enterprises will have fall behind the competition if they continue to rely and operate on this substandard model. Today, companies are re-engineering their operations and investing in enhanced IT infrastructures, which enable them to provide customized, personalized, information-rich products and services.
The new objective for marketers and business developers involves understanding the needs of their clients and the markets that they serve. This new focus on providing customer value is redefining business processes. Professionals, who understand and anticipate this shift, are positioning themselves ahead of the competition.
The Impact of Technology Enabled Business Processes
There is no denying the effect that technology has had on the way we conduct business. In recent years, technology has begun to play a significantly larger role in all aspects of business, including sales and marketing. Business processes must be re-engineered to incorporate a pro-active strategy for using information and IT to build a competitive advantage over other organizations.
In many instances, the functionality provided by sales and marketing technology only automates current processes. Therefore, it is imperative that processes are clearly defined and well proven. Automating a poorly understood or followed process usually results in failure. Technology must be used as an enabler to support an already sound sales and marketing strategy.
Beyond automating sales and marketing capabilities, technology is now designed to provide professionals with a wealth of information about their company’s clients and the markets that they serve. Companies are now able to collect data about their customers that when analyzed and utilized properly, can result in a competitive advantage. Online shopping is a prime example. If a customer makes a purchase, then the transaction is completed and revenue is generated.
However, if a sales transaction is not made, the company still collects the ...

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