So what can CRM impact in your business? Simply put, EVERYTHING. From sales to marketing to customer service, CRM principles can and should be used to dramatically change how you interact with customers across functions and across customer touch points.
CRM analytics can help companies in profitable customer acquisition and reduced customer attrition. CRM analytical tools provide a common thread, because they are used across many of those applications and offer important measures of the effectiveness of customer-related initiatives. For example, analytics help determine whether an ad campaign is successful, and how satisfied customers are with products and services.
A new area of application and data collection has to do with Web site customer usage. Data collection and analysis are viewed as a continuing and iterative process and ideally over time business decisions are refined based on feedback from earlier analysis and consequent decisions.
Benefits of CRM analytics are said to lead not only to better and more productive customer relations in terms of sales and service but also to improvement in supply chain management (lower inventory and speedier delivery) and thus lower costs and more competitive pricing.