What Does Collaborative CRM Mean?
Collaborative Customer Relationship Management (Collaborative CRM or CCRM) is a CRM approach in which the customer interaction data of an organization is integrated and synchronously shared to enhance customer satisfaction and loyalty for maximized profitability and revenue. Collaborative CRM integrates customers, processes, strategies and insight, allowing organizations to more effectively and efficiently serve and retain customers.
Techopedia Explains Collaborative CRM
Collaborative CRM is categorized as follows:
- Interaction management: Enhances business-to-customer (B2C) communication
- Channel management: Uses current technologies and trends to improve channel interactions
Collaborative CRM data is culled and shared to implement strategic, product and customer analysis from cross-departmental customer interactions through chat, websites, email and voice response systems, while supporting a number of back office processes, like billing, invoicing, marketing, advertising, finance and planning.
Collaborative CRM advantages are as follows:
- Identifies customer service cost reduction opportunities
- Integrates data to create an enhanced customer service overview
- Facilitates customer-channel interaction