Client Relationship Management Case Study
opinion Essay
1807 words
Client Relationship management is a simple technique to learn, using it properly and to the full usefulness. It can be taught to anyone if they have time if they have the time to learn. There are conferences, seminars and even consultants who spend their lives training people to use skills that they have in a more productive manner. In determining which path is most effective, we will look at quality of information, duration, cost, relaying information, and employee interest.
Criteria used
Quality of information
There Are many different Strategy’s to train employee on Client Relationship Management. It is important to analyze each option to discover which option provides the best quality of information. Quality of information is the key
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In this essay, the author
- Explains that client relationship management is a simple technique to learn, using it properly and to the full usefulness. there are conferences, seminars, and even consultants who spend their lives training people to use skills that they have.
- Opines that a planning firm's lack of reachability to clients affects how the client feels about the firm. training could keep planners out of their offices for long periods of time.
- Explains that cost is a main criteria for measuring qualitative efficiency. training employees on how to deal with clients is important. the company is paying for the training so they want to find the most cost effective and efficient course of action.
- Explains that the time it takes to relay information from the people training to other employees is key because time is money and the quality of the person transferring it.
- Explains that each plan will be judged to determine which option is the best for their firm based on the criteria above.
- Explains that they chose floret consulting because of the quality of services and experience they have. the cost is on the high end of their budget for training being about $20,000 plus expenses for three days.
- Recommends sending key employees to different conferences around the country to get a wider view of crm than from just one consultant. the cost would be about $4,000 per conference to meet staff needs and fees.
- Recommends that all new hires take crm courses as part of the hiring process. the quality of information is lower since it is hard to absorb info from a computer.
- Explains that sending key employees to different conferences and having them train their staff is the most effective option. it is cheaper to do than bringing in a consultant.
- Opines that option 1 will not be ideal because of cost and duration. the cost of $20,000 is far too great for one training session.
- Explains that it is important to analyze each option to discover which option provides the best quality of information. client relationship management is a new skill and approach for some planners.
- Opines that if employees are not interested in the training, they will not absorb the material and not be able to place it into action.
- Explains that skill training has been around for a long time, but hasn't been used as effectively as it could be used. using criteria evaluate each possible solution allowed them to find the best solution.
- Explains that option 3 was not chosen because per employee it cost more to train them, the interest level was low, and relaying info wasn't at an appropriate level. option 2 provided more bang for your buck, while not being the cheapest.
Employees Relaying information is key because as is said “time is money “the long it takes to transfer information to others the cost increases. Another factor in relaying information is the quality of the person transferring it. Some people may deem some information more important than other pieces. But not everyone deems the information to be as important. You must find out which employees are the best teacher.
Employee interest
If employees are not interested in the training they will not be able to absorb the material and not be able to place the training into action. Many of the planner we will be dealing with have been in the industry for a long period of time, these planners have a tendency to be stuck in their ways. CRM training while not a extreme concept it will change the way they deal with clients. The training could change the direction that a planner career. Interest levels that advisors have in the project could affect the smoothness of the training.
With all of these criteria in mind, we can make the best evaluation of our options. We can look at each way to train to use CRM as well as time and the resources it will take to complete the training it is imperative that the training is done in quick and affective manner.
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- The Importance Of Customer Relationship Managementexplanatory essayNo matter howbig or small your company may be,building loyalty with a retailer’s most valued customers is one of the most important things.With the help ofCustomer Relationships managements (CRM), many organizations are able to build customers loyalty for long term business success. In this paper, I will be addressing the definition of CRM, how has it changed from the past and what causes these change. While giving examples of successful companiesthat use customer relationships management system to improve their organization and keep their customer satisfied.
In this essay, the author
- Explains the importance of building loyalty with a retailer's most valued customers with the help of customer relationships managements (crm).
- Explains that relationship marketing is a marketing strategy where organizations focus on building and developing relationships with customers and delivering ongoing quality products and services to increase their profit.
- Explains that the concept of relationship marketing has changed due to the development of technology, consumer behavior, organizational attitudes, market situation, and increase in number of competitors in global market.
- Opines that firms must ensure that data obtained from both social media and mobile devices is translated effectively and efficiently.
- Explains that organizations recognize that traditional relationship marketing methods are no longer enough for companies to meet enrollment goals. the focus is now on customers and relationships rather than products and markets.
- Explains that consumers relationships management (crm) is a business strategy designed to increase firms' profitability, revenue, improve customer satisfaction, and reduce operational cost.
- Explains that while rm and crm have similar purposes and capabilities, they are different. crm is more focused on getting to know more about existing customer accounts,targeting the right kind of marketing programs, and managing new-customer pipelines.
- Explains the concept of crm to get closer to your customers, know who they are, what they want, and what their habits are going to be in order to better identify and satisfy their needs.
- Explains that not all companies with crm system are successful, and the failure rate has been increasing over time. successful adoption requires a willingness to change any aspect of the way company relates to its customers.
- Explains that amazon is one of many companies that seek to develop additional sales from certain existing customers and illustrate opportunities that are available through technology.
- Explains that amazon's customers think that buying products from amazon.com is more efficient, fast, reliable, and simple than a physical store. amazon embeds business rules into crm databases so that the company can take action with customers’ behaviors appropriately.
- Explains that amazon adds value to customers' data by using the crm to acquire the knowledge and insight needed to deepen the relationships and treats different kinds of customers in ways appropriate to them.
- Explains how amazon can personalize products that are likely to be attracted to that particular individual customer. the recommendation are created using sophisticated statistical software that helps to profile the kinds of products individuals are interested in.
- Analyzes how amazon's crm system creates customer convenience. it takes customers less than 15 seconds to order and pay for a product.
- Explains that tesco lotus, one of the world's largest supermarket groups, moved into crm system in the early 1990s. the club card program contains all information about its customers including name, address, age, no. of children, size of their household, dietary preferences and many more.
- Explains that tesco can analyze customer's purchasing habits and behaviors to tailor promotions to each customer and check how quickly new initiatives are working.
- Concludes that a good crm system can produce brand fanatics and increase return on investment efficiency when managed flawlessly.
1822 wordsRead More - Marketing: The Core Concept Of Customer Relationship Marketingexplanatory essayRelationships, the essence of life, which are like invisible threads but aim to build unique bond between individual and the company, which needs to be managed effectively but very complicate to be in control.CRM is a comprehensive strategy and the process of acquiring, retaining and parterning with select few customers, to create superior value for the company and the end customer. Customer Relationship Marketing (CRM) is a business process in which client relationships, customer loyalty and brand value are built through marketing strategies and activities. CRM allows businesses to develop long-term relationships with established and new customers while helping streamline corporate performance. CRM incorporates commercial and client-specific
In this essay, the author
- Explains customer relationship marketing (crm) is a business process in which client relationships, customer loyalty, and brand value are built through marketing strategies and activities.
- Explains that organizations and businesses have come to see crm as a value proposition in achieving market leadership and profitability.
- Explains that customer relationships are the lifeblood of every good company. loyal relationships with these valued individuals make for a strong bottom line. potential profits increase by keeping existing customers happy and constantly acquiring new ones.
- Explains that relationship marketing relies on the communication and acquisition of consumer requirements solely from existing customers in a mutually beneficial exchange.
- Explains that relationship marketing is the retention of customers through varying means and practices to ensure repeated trade from preexisting customers by satisfying requirements above those of competing companies.
- Explains that a customer relationship management system may be chosen because it provides the following advantages.
- Explains buchanan and gilles' argument that the increased profitability associated with customer retention efforts occurs because of several factors that occur once a relationship has been established.
- Explains that the cost of acquisition occurs only at the beginning of a relationship. the longer the relationship, the lower the amortized cost.
- Explains that account maintenance costs decline as a percentage of total costs (or revenue).
- Explains that long-term customers tend to be less inclined to switch, and prices sensitive. this can result in stable unit sales volume and increases in dollar-sales volume.
- Explains that customers who stay with you tend to be satisfied with the relationship and are less likely to switch to competitors, making it difficult for competitors to enter the market or gain market share.
- Explains that regular customers are less expensive to service because they are familiar with the process, require less "education" and are consistent in their order placement.
- Explains that increased customer retention and loyalty makes employees' jobs easier and more satisfying. happy employees feed back into better customer satisfaction.
- Opines that successful development, implementation, use and support of customer relationship management systems can provide a significant advantage to the user, but there are obstacles that obstruct user from using the system to its full potential.
- Explains that the lack of senior management sponsorship can hinder the success of a new crm system.
- Explains that a difficult interface can hinder the crm's effectiveness, causing users to pick and choose which areas of the system to be used, while others may be pushed aside. this fragmented implementation can cause inherent challenges.
- Explains that crm solutions focused on monitoring and recording interactions and communications can be complex, especially for large businesses.
- Explains that a difficult user interface can be fragmented or not entirely complete. customers are likely not as patient to work through malfunctions or gaps in user safety, and the expectation that the usability of systems should be somewhat intuitive.
- Explains that poor usability can lead to fragmented implementations — isolated initiatives by individual departments to address their own needs.
- Opines that addressing internal fragmentation requires a shift in philosophy and mindset in an organization so that everyone considers the impact to the customer of policy, decisions and actions.
- Explains that crm systems face the challenge of producing viable financial profits. poor usability and low usage rates lead many companies to indicate that it was difficult to justify investment in the software without the potential for more tangible gains.
- Opines that it is important to consider the customers' need for privacy and data security. vendors may need to reassure clients that their data not be shared with third parties without prior consent.
- Explains that a 2002 study shows that security and usability can coexist harmoniously.
- Opines that companies struggle to achieve a "single view of the customer" where many different data sets can be seamlessly accessed and organized.
- Explains the challenge of a crm system is delivering consistent and reliable cross-channel customer experience. companies also struggle to identify real sales prospects with their data.
- Explains that social crm refers to businesses engaging customers directly through social media platforms such as facebook, twitter and linkedin.
- Explains how social crm is adding value for companies and customers. customer communities can provide low-level customer service for certain kinds of problems and reduce the number of contact center calls.
- Explains that mobile crm applications are becoming a must-have for sales representatives and marketing professionals who want to access customer information and perform tasks when they are not physically in their offices.
- Explains that many organizations have become disillusioned with crm investment due to its failure to deliver on its promise as the 'holy grail' to the retention of customers leading to profitability.
- Opines that crm is the most important strategy that any organization intending to stay in business must develop to meet the new age of competitive advantage.
- Argues that successful crm requires a combination of managerial commitment, cultural change, and resource and technology to achieve the needed result.
- Explains that crm genesis dates back to 1960, when marketers defined that the core concept of marketing was the role of exchange. relationship marketing has the potential to improve its productivity and create value for both the customer and the company.
- Describes relationship marketing as a short-term arrangement where both the buyer and seller have an interest in providing more satisfying exchanges.
- Opines that a good relationship marketing program takes into consideration both customer relationship and customer acquisition. it can impact retention -- and that will impact the bottom line.
2888 wordsRead More - What Is Customer Relationship Management Systemargumentative essaySharif Mair Professor Catherine White Module 6: Research Review Management Information System SUNY Empire State College Term Project Research Review Part A 1. What did you learn? I learned that customer relationship management systems are practices, strategies, and technologies that organizations and companies use to manage and analyze customer interactions and data throughout the customer lifecycle with the company. With the hopes of improving their business relationship, assisting in customer retention and driving sales.
In this essay, the author
- Explains that customer relationship management software helps business professionals keep track of their contacts, correspondence, and schedules.
- Explains that customer relationship management systems are practices, strategies, and technologies that organizations and companies use to manage and analyze customer interactions and data throughout the customer lifecycle with the company.
- Concludes that customer relationship management (crm) systems are helping business reach out to more people everyday. as technology continues to evolve, the goal of increasing sales and achieving great customer service will remain the same.
- Analyzes how brookins discusses the advantages and disadvantages of using crm systems, including better customer service, learning curve, and employee resistance to using it.
1321 wordsRead More - Is Customer Relationship Management Vital for the Growth of a Company ?comparative essayThe concept of CRM first arrived during the period of 1990s, by promulgating the idea that the customer is the base and no business can be sustained not to speak of its expansion and his emergence. In point of fact, any business is highly dependent on its customers. Traditionally, smaller businesses were thought to be more able to understand their customers' needs, simply because th...
In this essay, the author
- Concludes that crm is essential to the expansion of an enterprise if it is well used and understood.
- Explains that customers don't like hearing that some customers are valued more than others. privacy issues are another concern about crm practices.
- Explains that crm is limited by its focus on past purchase patterns, and customers are highly influenced.
- Explains that crm is a business strategy that entails all aspects of interaction with its customers, whether it is sales or service-related.
- Explains that the internet has had a major impact on culture and commerce, including the rise of communication by electronic mail, instant messaging, discussion forms, blog, social networking and online shopping sites.
- Explains that crm can become dangerous for a client as it involves personal details all over the internet and can, in fact, falsely find valuable clients.
1803 wordsRead More - The Key To A Successful Business: Customer Relationship Managementexplanatory essayThe Key To A Successful Business: Customer Relationship Management In today’s business world it’s a dog eat dog race to the finish; everyone is highly motivated and constantly looking for the next best thing to out do the competitor with. However, many company’s and corporations fail to recognize the true value in their customers or end users. For, if a company would just take a look and the potential in profit and growth that lies right beneath their noses, they would be that much more ahead of the game.
In this essay, the author
- Opines that companies should invest more time and effort into their customer relationship base for the already existent customers are the key to a successful business.
- Explains that customer relationship management can be applied to all types of businesses because in some way or another they are all linked to retail or some form of selling.
- Explains that the target market profile of a company is key because it provides the to "whom" aspect of the process.
- Explains that the internet is an important tool that can be highly advantageous if applied properly especially in customer relationship management.
- Explains that the second phase of crm refers to enhancement, which involves making a business web-enabled, allowing customers to access informational or transactional business through the internet/world wide web.
- Explains that customer retention is the third and most important phase of customer relationship management. retaining customers is cheaper than acquiring them.
- Explains that the internet plays an important role in the retention phase of the customer relationship management process. the seamless customer experience refers to a multi-channel marketing.
- Describes the customer touch-points that should provide seamless customer experience, such as retail stores, internet/e-commerce, telephone call center, direct mail, catalog, self-service kiosks, service technicians, and field sales representatives.
- Explains the benefits of customer relationship management in a retail store, the buckle.
- Explains how buckle.inc has used the internet to enhance customer retention numbers through the use of a company intranet.
- Analyzes how att wireless's crm system crashed during the upgrade, swamping other at&t systems, grid locking customer service banks, and depriving potential new customers to the telco company.
- Explains that the integration of customer relationship management into all aspects of a business is crucial to its survival.
- Cites o'brien, j.a., roberts, mary-lou, and marked. att wireless self-destructs the story of a botched crm upgrade.
1777 wordsRead More - It is argued by some researchers that CRM can be seen as the organizational implementation of a relationship management philosophy (Ryals and Knox, 2001, Ryals and Payne, 2001). Through delivering more responsive and customized services to customers, CRM increases customer satisfaction and this, in turn, improves customer loyalty. The importance of relationship management is increasingly being recognized. Kotler (1992) wrote that companies must move from short-term transaction-oriented goals to long-term relationship-building
In this essay, the author
- Defines customer relationship management as a strategic approach concerned with creating improved shareholder value through the development of appropriate relationships with key customers.
- Explains iriana and buttle (2006)'s main reasons most organisations embark on crm practices. some companies can boost profits by almost 100% by retaining just 5% more of their customers.
- Explains that gro nroos states that the lack of separation between the offering and the consumption of the products or services results in service firms having the elements necessary for forging relationships with their customers.
- Explains that in the hotel industry, there is little, if any, separation between the product and the service elements. therefore, hotel companies may be seen as possessing the elements necessary for creating and nurturing relationships with customers.
- Analyzes zineldin's argument that crm may be particularly relevant to the hotel industry when he advocates that differentiation becomes more interesting to companies with the strongest potential and resources to develop long-term relationships with their customers.
- Explains that hotels are differentiated by their star rating, but offer more or less the same core products and services: accommodation surrounded by food and beverage services. the development of relationships with customers could be considered emphatic to the hotel industry.
- Explains that hotel companies have tried to differentiate their offerings for the growth of their hotels. the london hilton park lane launched an entire floor dedicated to women travellers only in 2003.
- Explains that the 22nd floor at london hilton on park lane was designed for women looking for extra security, discretion and comfort. in 2011, accor launched an iphone "app" allowing customers to book hotel rooms, keep track of current reservations, and access promotional offers.
- Explains that even four season hotels and resorts launched a family travel blog that consists of experiences from bloggers, travel journalists, and staff members. intercontinental hotels group released an ipad and iphone "app" providing extensive information about its hotels.
- Explains porter's view that the achievement of competitive advantage is central to long-term success and the strategies that a company chooses to adopt.
- Argues that hotel chains must select which strategy they wish to follow with regards to crm initiatives. travelodge signed a £2 million deal with 3663 to place truck-side banner advertisements on over 60 lorries.
- Explains that the evolution of relationship management is closely associated with the realization of the importance of customers to a company.
1006 wordsRead More - Customer Relationship Marketing Essayexplanatory essayCustomer Relationship Marketing is concerned with how organisations manage and improve their relationships with customers for long-term profitability. If the management of the collected data is not shared across relevant organisational functions, the organisation will be unable to create sustainable relationships
In this essay, the author
- Explains customer relationship marketing (crm) is a perspective on how an organisation can relate to its customers and other stakeholders. it focuses on managing relationships with customers, with an emphasis on customer attraction and retention.
- Explains customer relationship marketing is concerned with how organisations manage and improve their relationships with customers for long-term profitability. if the management of collected data is not shared across relevant organisational functions, the organisation will be unable to create sustainable relationships.
- Explains that a good quality service results in customer satisfaction and more sales. customers are more likely to return and make additional purchases and report positively about the business to family and friends.
- Explains the importance of marketing, communication, and crm in managing relationships with customers. customers trust organisations that they have learnt can be trusted.
- Opines that an organisation should not invest on unprofitable customers, since proving quality service is not an easy task. service quality impacts crm on adopting a customer focus that enables an organization to retain loyal, profitable customers.
- Explains that a firm's service quality has an effect on customer retention; compared with other contracts the firm holds, firms are less likely to renew services contracts when there is poor service.
831 wordsRead More - The Importance Of Customer Relationship Managementopinion essayThese days all emphasis have been on customer relationships, but only a few large businesses truly understand how to mange them. Customer relationship management (CRM) is the practices, strategies, and technology that companies use to analyze and manage customer interactions and data throughout the customer life cycle. Companies are now expected to understand the type of relationship they want to have and respond coordinately. Many corporations lack “relational intelligence” which means they are not aware of the variety of relationships customer can have with a firm and do not know how to reinforce or change those connections (Avery, Fournier, & Wittenbraker, 2014).
In this essay, the author
- Explains customer relationship management (crm) is the practices, strategies, and technology that companies use to analyze and manage customer interactions and data throughout the customer life cycle. many corporations lack "relational intelligence" which means they are not aware of the variety of relationships.
- Opines that crm is a tool used to build relationships and is the company’s only opportunity to develop relationships.
- Opines that companies lack relational intelligences and that a business relationship should remain business.
- Opines that the ceo should set a vision for the direction to take and embed that vision within the organization. an organization that incorporates customer relationship visions and properly train employees relationship network will provide better customer service experience.
- Explains the relationship organizations like ebay and airbnb have with their customers. each relationship is different depending on the organization. without clarity there is little beyond sales conversions for crm to track.
- Explains that customer prioritization implies that specific customers receive preferential treatment in regards to marketing. a good ceo is aware every relationship is not going to be based on money.
- Recommends that firms implement a differentiated use of marketing instruments for different tiers of their customers.
- Explains how technology is changing the way people think, manage and measure a company’s customer relationships.
- Explains that disney has created my magic+ magicband bracelet, which allows disney to know where the guest is at, and allow them to plan bookable and non-bookable activities.
- Opines that it is important to assess customer experiences and how to properly engage customers differently. it is easier to access this information with new technology adopted by internet of things and big data.
- Concludes that a customer relationship plan will never be perfect, but that does not mean it's failure. a brand must find the strongest and most efficient approach in maintaining or creating relationships with customers.
942 wordsRead More - Crew Resource Management Case Studyopinion essayCRM preparing is currently a commanded necessity for business pilots working under most administrative bodies around the world.
In this essay, the author
- Explains that a safety management system (sms) includes organizational structures, accountabilities, policies and procedures to manage safety.
- Recommends adding a layer of security on the ramp to protect against unauthorized access to the aircraft operating area with remote vehicle shutdown.
- Opines that all cargo build-up on pallets must proper lock, lashing should be tied, and all containers should properly lock.
- Explains the objective of crew resource management (crm), which is to enhance the communication and management skills of the crew members concerned.
- Explains the purpose of a safety management system to control dangers in operations. human slip has been reported as an essential donor to more than 70 percent of business plane frame misfortune mischance. boeing human elements experts work with specialists, pilots, and mechanics to enhance security and productivity.
- Explains that the term "human factors" has developed progressively prominent as the aviation industry has understood that human error, as opposed to mechanical failure, underlies most aviation accidents.
- Explains that crew resource management (crm) training originated from a nasa workshop in 1979 that focused on improving air safety.
- Explains that airside zones include all regions available to airplane, including runways, taxiways, ramp and tank ranches.
1167 wordsRead More - Problem Management Case Study: Vermont Teddy Bearanalytical essayOr, then again perhaps, VTB can use the CRM structure to discover about better customer advantage, deliberately pitching, and market designs. According to Bang (2005) CRM is viewed as an educated business philosophy to make and keep up whole deal customer associations. For example, CRM system would be an enabling specialist of business comes about like future repeat purchases. VTB's should use the CRM as a focus business methodology to robotize customer advantage. All things considered, customers tend to put orchestrate at long last and expect the package passed on time. Henceforth, on the operational side, data must be gotten, fused, arranged and fulfilled, to satisfy its targets (Bang 2005). The operational viability of the CRM structure is to accumulate the data from customer to be deciphered later on to
In this essay, the author
- Explains that vermont teddy bear's point-of-sale system was severely lagging behind. the company struggled with major surges in customer periods because of its intricate middleware system.
- Recommends that vtb outsource its load handling from another company for mother's day surges, while downsizing its middleware.
- Opines that long-term solutions will require research to further identify the problem to know how to tackle any similar issues going forward.
- Recommends the data mining solution, stating that knowing is half the battle.
- Analyzes how a full-highlight enterprise asset planning (erp) package will wipe out displaying issues in the it division. vtb's it wander objective is to alter and support the essential business methods.
- Argues that a more capable erp structure suggests that arrangements upgrade, but the customer may not see regard if the thing can't be passed on.
- Explains that crm is an educated business philosophy to make and keep up whole deal customer associations. vtb's should use crm as a focus business methodology to robotize customer advantage.
963 wordsRead More