Many businesses benefit from the organizational discipline CRM imposes, as well as from the technology itself. CRM can benefit and organization in that it can develop better communication channels; collect vital data, like customer details and order histories; create detailed profiles such as customer preferences; deliver instant, company-wide access to customer histories; Identify new selling opportunities. (Is4Profit, 2006, 1). CRM involves centralizing all customer data and automating much of the tedious work in managing sales, marketing, and customer service so that professionals can spend more time helping their customers become more successful and less time on administrative tasks. CRM has also come to include a new type of business intelligence software called analytics that provides managers with a real-time snapshot of their sales, marketing, and service efforts.
As a Business Administration major I have learned there are several different components that make up a successful business, and it is important that everyone work together to achieve a common goal. The ultimate goal of most companies is to create a product or service that will gain a place in the market and stay there. Customer relationships are the most important factor for companies to consider when aiming toward success. What can companies do to improve customer relationships? Improving customer loyalty means the customer keeps coming back even if they are not always completely satisfied with the product.
Customer relationship management or CRM for short is a model for managing a company’s interactions with current and future customers. When CRM is utilized correctly it will increase profitability and customer loyalty, which are both very important to an organization. It involves using technology to organize, automate, and synchronize sales, marketing, customer service, and technical support. Customer relationship management is very important in many ways to help a company become and stay successful. CRM can help businesses gain a competitive edge through communication, marketing, gathering customer information, social media and mobile technology.
HR brings the business perspective while other departments (management, finance) are looking directly at numbers. HR knows people and how to enhance human capital and make the right personnel investments. When properly used, HR can have significant changes and positive results on and with a company due to its knowledge and existing capabilities. In order for HR to make significant contributions, as aforementioned, they need to be allowed to and be worked with by management to achieve common goals (Hults,
Customers can provide the revenues needed to attain profitability. Customers can give the word-of-mouth marketing to drive traffic. Customers can give the feedback needed to continually improve the website. Customers are a dotcom's most important resource. To survive, dotcoms must improve their customer experience.
Customer Relations Management is defined as methodologies and tools that help businesses manage customer relationships in an organized way. For most business’ CRM helps “target customers, generate quality sales leads and plan marketing campaigns with clear goals” (about.com). CRM also helps create customer satisfaction and provide the best service that one could possibly provide to their most profitable customers. CRM uses software and browsers that collects and organizes customer’s information. The system also helps employees stay organized, and provides them with the information needed to provide the best customer service each time the customer come in and out.
The aim is to filter out the key facts from gathered information and gain customer knowledge (CRMSoftware.com). Analytical customer relationship management (CRM) systems assist top-level executives, managers, marketing, and sales personnel figure out the best way to better serve their customers. Analytical customer relationship management (CRM) systems help management make better decisions, marketing executives to understand the effectiveness of their campaign, sales executives to increase their sales, and support personnel to improve the quality of support given to the customer. Resulting in a stronger relationship between the company and the customer. (CRMSoftware.com).
In our competitive market, maintaining customer loyalty is obviously a key goal for any marketing managers, customer experience programs are the most effective way to drive customer loyalty when customers are engaged on an emotional, intellectual, or even spiritual level, and when a customer cherishes a product or service before, during and after its use (Bloemer and Kasper, 1995). Therefore, many companies offer loyalty programs which can caused them a reliable revenue stream and a sustained profit due to the customer’s deeply held commitment to re-buy a preferred product or service despite marketing efforts. According this theory, marketing managers should provide special offers namely rewards program, unquestionably return policy and cash back promotion to obtain customers to buy the product more. As a result, satisfaction affects the buyers’ purchase behavior, ideally, they can become repeat customers. The customer loyalty has been thoroughly explored over the years with positive result.
Therefore, it is imperative that processes are clearly defined and well proven. Automating a poorly understood or followed process usually results in failure. Technology must be used as an enabler to support an already sound sales and marketing strategy. Beyond automating sales and marketing capabilities, technology is now designed to provide professionals with a wealth of information about their company’s clients and the markets that they serve. Companies are now able to collect data about their customers that when analyzed and utilized properly, can result in a competitive advantage.
7.3. Customer Experience Clues Nowadays, managers have become more aware of the need to create value for customers in the form of experience. The first step to managing the total customer experience is recognizing clues and sending to the customers. It is critical way for every company to retain their potential customer and create a competitive advantage as well as company awareness. Customer clues is used to establish and manage a good customer experience by adding a unique viewpoint to the blend of perspective on existing teams in leadership, marketing, product, design, or development initiatives.