Customer Relationship Management is an integral part of
modern business. In order to stay ahead of the competition, companies look for
ways and means to effectively manage customer relationship, right from sales, operations,
logistics and service delivery.
Thought to be one of the critical success drivers in today’s
corporate environment, CRM is an overall strategy that helps:
1.
Appreciate the requirements of customer
2.
Employ tools and approaches that enable astute
customer servicing
3.
Source and retain newer customer and clientele
4.
Increase customer engagement and reduce costs
involved
The recent and evolving technological advancements has
opened newer avenues for customers to purchase products or services and at the
same time has provided alternatives options for corporate houses to attract
customers and manage them efficiently. The twin proliferation of Web and
smartphones has now provided better opportunities for managing customer
expectations.
As a small example, we see supermarkets offering gift
coupons on selected purchases. Implementing CRM ensures that not only is
customer induced to purchase more though such offers, but the supermarket also
benefits from such steps, as the gift coupon also tracks customer purchase
profile and keeps a detailed account of the same. This helps the supermarket to
devise offers and strategies that are in line with the customer’s purchase
profile thus leading to a happier customer and a profitable supermarket.
The broad categories that CRM process cycle entails are:
1. Lead generation: Using an easy-to-access format
CRM helps tracking customer details, demographics, purchase history, shopping patterns
and profiling to create an elaborate database that targets customer
satisfaction. How do you think the magazine you subscribed for, tracks and
sends a birthday message every year without fail? That’s CRM for you
2.
Sales integration: Once the information and
report is ready, sales people use this to maintain a healthy customer
relationship. An example would be the post sales communication channel that
stays open between sales people and customers that not only strengthen the
relationship but also help attract referrals.
In a nutshell CRM uses technology as a core enabler to
collect, analyze and manage important information about customers and supply
ways and means to link information in such a way that helps smart and
innovative customer relationship management to attract new customers and retain
existing ones satisfactorily.
Resource: Copywriting Services
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