Customer Relationship Management

Improving customer loyalty means the customer keeps coming back even if they are not always completely satisfied with the product. When I think about what brings customers back, and the most important part of a company’s success, it is undeniably customer relationship management. With it being easier for customers to shop from their home or office, and the growing competition making it easier to switch, the relationships become increasingly more important every day. Focusing more effort on customer retention and loyalty in customer relationships would improve their chances of surviving in the market. Companies are now turning to this business strategy supported by information technology.

Marketing can easily figure out the satisfaction criteria of the customers, market offerings and value of which customers are keen on. According to Kotler, P. and Armstrong, G. (2000), marketing investigates to attract more customers by adding the best of the value they need, offers advantages of having the product or service and enhances relationship providing value added services regularly. Targeting and capturing customers is one of the most difficult jobs for the companies, marketing strategy ease the way capturing the customers effectively. According to Lancaster, G. and Withey, F. (2007), to being successful, the companies have to be strongly market focused. Marketing builds relation with customers providing superior customer value and attracts them providing value added services as well as increases the number of potential customers in a regular basis.

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.

1. Sales managers are responsible for directing and leading the sales teams. By understanding the personal selling functions we will be an overall better sales force. Sales teams must be able to identify and relate to the roles of the business and sales functions at all times. By correctly managing your sales team you will boost profits and create a more profitable atmosphere.

Managing customer relationships effectively and efficiently is made possible by having a customer management relationship solution in place. Being able to track customer data is critical to an organization, this allows them to develop targeted and effective marketing campaigns and accurate sales reports. Interacting with customers frequently is a very important part of a business and by having a customer relationship management program in place supports that and makes this possible. CRM makes it easier for businesses manage a large supply of customer information and supports customer loyalty. The editors of CRM Magazine also point out, “Once thought of as a type of software, CRM has evolved into a custome... ... middle of paper ... ...anagement.

They are also realizing that their customers are very important to the success of their firm and are striving to fix any problems associated with their actions. They are trying to create value for their customers by building strong relationships for more reasons than just the idea of profits. A business’s marketing aim is to build specific relationships with the “right” customers. It is essential to create value for these targeted customers and to obtain a higher customer equity. Two things that Office Depot should do to move it more toward carrying out the marketing concept could include addressing the issues with their services directly to the employees and allowing their customers to realize that their feedback is greatly appreciated and that their ideas and opinions will b... ... middle of paper ... ...s customer service operation and learned of Steve's story, what steps would you take?

Effective marketing involves strategic concepts. Some of which include how companies use marketing to Place, Promote, and Price their Products. More importantly, an understanding of the marketing concept, the marketing strategy, and the marketing plan is required for a company’s marketing efforts to be successful. The purpose of marketing is to identify customers’ needs, and meet those needs so well that the product almost sells itself (Perreault et al., 2014). When the marketing process performs well, the customer will be satisfied and buy again.

The key to success is to create strong and long term relationship with customer. CRM is an important tool to generate benefits for both customer and sellers. They treated every customer specially and try to get the appropriate information about the usage of their purchase which makes firms to increase their sales and also increase customer loyalty. Furthermore CRM also helps in making the sale processes very easy and simple which help sales staff to deal faster. There is great opportunity for the organization to cross selling and up selling to customers which are loyal to firms through CRM.

The strategy is a source of the company’s competitive advantage. Conclusion Datatronics can enhance its revenues and customer satisfaction by improving its customer service. Problem areas identified include the company’s philosophy, technology, service representatives, organization, performance metrics, training, and recruitment criteria. Matt should consider proposing changes as long as he does not overhaul the way Datatronics does business. For instance, the company should enhance its CSRs training, hiring criteria, philosophy, and technology, especially with respect to its IVR system.

At one major insurance company, for example, customer retention depends on the quality and sp d of service. Customers expect to deal with knowledgeable people who can make decisions on the spot. A reengineering team was formed to find s viral ways to improve the quality and speed of service delivery. Producing High Quality Products and Services Leading organizations know how to deliver customized, high-quality products and services at competitive costs. Coaching keeps employees focused on quality excellence; it enables them to work in ways that are more productive, efficient, and effective.