The sales team will also work with the information technologies department to create new ways of tracking customer contacts and manage account information (O'Reilly, Paper, 2009). Next, the financial systems of the company will be integrated or linked into the customer data management system to see how much profits each customer, and also each distributor is generating.
Financial analysis is going to be very important for defining customer segments by price they are willing to pay (Khan, Lewis, Singh, 2009). Having financial information within the customer data management records will also give marketing an idea of how profitable the promotions they are running are. That is why integrating financial systems to the customer data management system is very important.
At present the company does not have the ability to measure how the distribution channels are doing from a sales and profits standpoint. Having the customer data management system include distribution and reseller accounts as part of the total system can be used for managing distribution channels including retailers and distributors (Dyche, 2009). Creating reports that rank how each product is doing from a selling standpoint would also give good insight into how best to manage the overall group of product sold through each distribution channel.
Once all the customer databases are integrated together, and financial information is included in the customer data management system including profiles of distributors and dealers, the next step is to add in better report writing and analytics applications. The use of customer data management applications as the basis of creating better reports through analytics has been shown to improve marketing and selling effectiveness (Todd, 2009). Having reports about marketing and selling progress and performance will help to also find-tune all the other programs that the company has planned. In this way the analytics applications in the customer data management system will help to provide useful...
Over time the company will be profitable when all of these systems work together.
In conclusion the customer data management system needs to improve for the company to stay in business. There are many other areas of information technologies that need help. Customer data management's lack of system integration today is making it very difficult for marketing and selling to bring in new sales.
References
Tony Byrne. (2009). Web Analytics Comes of Age: Challenges and marketplace will face significant changes in 2009. Information Management, 19(3), 36.
Jill Dyche. (2009). The New World of CRM: Three game-changers and how to make the most of them to benefit your customers. Information Management, 19(5), 53.
Khan, R., Lewis, M., & Singh, V.. (2009). Dynamic Customer Management and the Value of One-to-One Marketing. Marketing Science, 28(6), 1063-1079,1164-1165.
Lieberman, W. (2009). Selling Analytics to Skeptics. OR-MS Today, 36(5), 34.
Lopez-Nicolas, C., & Merono-Cerdan, N.. (2009). The impact of organizational culture on the use of ICT for knowledge management. Electronic Markets, 19(4), 211.
O'Reilly, K., & Paper, D.. (2009). Customer Relationship Management (CRM): An Approach for Transforming the 'Myth' of CRM Success into Dual-Creation of Value. Journal of Information Technology Case and Application Research, 11(3), 1-8.
Greg Todd. (2009). Capture the Next-Generation Customer: Achieving high performance through information management and analytics. Information Management, 19(4), 36.
Wajidi, M., & Asim, M.. (2009). The Realms Of Knowledge Management From An Organizational Perspective. The International Business & Economics Research Journal, 8(11), 121-132.
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