Customer Relationship Management

It is used to describe a new business model that organizations use Internet to assign jobs, find creativity or solve technical questions. There are different kinds of outsourcing platform in the world. This report will give an analysis of various types of c... ... middle of paper ... ...g platforms are discussed. References: 1. Brabham, D. C. (2008), Crowdsourcing as a model for problem solving an introduction and cases, Convergence: the international journal of research into new media technologies, 14(1), 75-90.

Marketing is about value creation of the product or service, the more you add value, the more you will get competitive advantage in the competitions in the market. The purpose of marketing is to build and develop strong relationship with the customer in a specific customer segment. In today’s world of business marketing’s role is to provide differentiations of the products and services and capture a strong customers’ focus and build loyalty for long term business commitments. Understanding the core marketplace, identification of needs, want and demand of the customers and coordination of these tasks is the aim of marketing to satisfy the customers. Marketing can easily figure out the satisfaction criteria of the customers, market offerings and value of which customers are keen on.

Critical Aspects of Customer Relationship Management Overview Rich customer relationships that generate loyalty and revenue are critical to sustained business performance. Now more than ever, organizations must be able to flexibly adapt to the unique needs of individual customers. To meet this challenge, companies of all sizes are deploying Customer Relationship Management (CRM) applications and strategies across their organizations. They are coordinating multiple channels: including the web, email, call centers, direct mail and face to face – to interact with customers and meet their needs. Profitable customer relationships begin with sound planning.

However, you can give a twist to it by discovering the better and unique angle of the idea. Pursue the concept of uniqueness in business, let it grow and rejoice the success. 2. Target Market: Conducting market research to figure out demography of potential customers and the degree of demand for your products or services among targeted audience is highly essential. Online research, networking, physical survey, questionnaire and other do-it-yourself methods can often do the wonders.

These skills help entrepreneurs manage the IT systems effectively, to develop new innovations and increase the business potential. Bassellier, Reich, and Benbasat (2001) stated that the manager who has information technology competence and IT knowledge, they can use this skill to develop new IT opportunities and behave proactively in the business world. Importantly, Askool and Nakata (2011) suggested that an entrepreneur who has technology competence can adapt social media in their business. Therefore, the technology competences are very important skills for the business owners and managers to support social media applications in business activities. Thus, these hypotheses are presented: Hypothesis 11: Technology competence is positively associated with using social media in CRM.

Thus, to foster a culture of engagement, HR leads the way to design, measure and evaluate proactive workplace policies and practices that help attract and retain talent with skills and competencies necessary for growth and sustainability. The challenge today is not just retaining talented people, but fully engaging them, capturing their minds and hearts at each stage of their work lives. Employee engagement has emerged as a critical driver of business success in today's competitive marketplace. Further, employee engagement can be a deciding factor in organizational success. Not only does engagement have the potential to significantly affect employee retention, productivity and loyalty, it is also a key link to customer satisfaction, company reputation and overall stakeholder value.

Evolving communications technology has changed the way business personnel communicate within an organization. The use of technology allows companies to be more dynamic and adaptive to changes by allowing instantaneous communications via interconnected computer networks. This dependency on information and communications technology has evolved these emerging technologies as crucial tools for providing operational support to business communications tasks (Wilkinson, 2006). Remaining competitive is a primary goal of organizations and effective communications help companies achieve this goal. Competency in communications is considered the root of success for many activities including planning, organizing, team work, and leadership (Waldeck, Durante, Helmuth, & Marcia, 2012).

Social Media Marketing Social media is where information is created, collected and exchanged through social media platforms. Social media in the current generation is constantly used and regularly updated with peoples personal lives for their whole group of friends and family and maybe even for the general public to see. Businesses now have to adapt to the social media era and use it to their advantage. Social media marketing is how firms use social media as a medium to interact with their customers to help increase awareness of their products and events. Social media marketing is new aspect in the modern day era for businesses.

CRM Features and Benefits CRM (Customer Relationship Management) helps companies to understand, anticipate and respond to their customers' needs in a consistent way, right across their organization (Is4Profit, 2006,1). CRM is a business strategy designed to improve profitability, revenue, and customer satisfaction. It consists of software, services, and a new way of thinking to improve profitability, revenue, and customer satisfaction (Sibel, 2006, 1). Practicing CRM requires an efficient and integrated internal business system. Many businesses benefit from the organizational discipline CRM imposes, as well as from the technology itself.

In order to succeed, it is important for CRM to have employees that accept the change and that customers are one of the most important thing of a company. Employees who use software at work to save customer information are more likely to be more motivated and efficient. Consequently, they will give the best service to clients. Works Cited O’Brien, A.; Marakas, G. (2004) Management Information Systems: Managing Information Technology in the Business Enterprise (6thed.). McGraw-Hill.