Sunday, August 19, 2018

WHY IS CUSTOMER RELATIONSHIP MANAGEMENT CRUCIAL?

Managing relationship with customers has turned the most important activity of a business in today’s scenario. As it is rightly said customer is the focal point around which activities of business revolves so, focusing on customer loyalty is important. Customer retention is important which requires knowing the customers and maintaining good relations with them.
WHY IS CUSTOMER RELATIONSHIP MANAGEMENT CRUCIAL? star star star star star 0 out of 5 stars based on 0 votes
Tuesday, July 31, 2018 by merrchantcrm 3 weeks ago
Hits: 159
Idle Experts

CRM BASICALLY ESTABLISHES BONDS WITH EXISTING AS WELL AS POTENTIAL CUSTOMERS BY KNOWING THEIR NEEDS AND REQUIREMENTS AND TRYING TO SERVE THEIR NEEDS IN A BEST POSSIBLE WAY.

 

FEATURES OF CRM

 

CRM software is a strategy that is customized according to the needs of customer by an organization. The goal of every organization is to achieve excellence in a business. One of the way by which the organization can achieve its objective is by managing and administering its customers and vendors in an efficient manner.

 

CUSTOMER NEEDS

No organization can anticipate the needs of the customer without knowing them. Therefore it is extremely important to know the likes and dislikes of the customer so that the needs can be ascertained and prioritized.

 

CUSTOMER RESPONSE

The reaction of the organization to the queries and activities of the customer is known as customer response. Intelligently dealing with the query is very important as even with small misunderstanding wrong perception can be formed. Effective understanding and interpreting the queries will result in success of the business.

 

CUSTOMER SATISFACTION

Satisfaction refers to the level at which the organization meets the expectation of the customer. If the level of expectation doesn’t meet, then the customer is dissatisfied. If the level of expectation meets, then the customer is satisfied. If the level of expectation exceeds, the the customer is delighted.

 

CUSTOMER LOYALTY

The tendency to remain in a business to buy a particular product on a regular basis is known as customer loyalty. Loyalty can be gained if the customer is very much satisfied by the supplier. Loyalty of the customer is very important as it works on customer satisfaction.

 

CUSTOMER RETENTION

The most important part is to retain the existing customer. Business not only focuses on gaining new customer but it gives proper attention to its existing customers so that they do not diverge or defect other supplier or product.

 

CUSTOMER COMPLAINS

The challenge for the suppliers is to deal with the complaints of the customer. Normally a complaint depict the act of dissatisfaction of the customer. Complaint can be launched due to some genuine reason or it may arise due to some misunderstanding.

 

CUSTOMER SERVICE

According to organization, the process of giving information and providing services to the customer on all products and brand offered. Customer satisfaction also depends upon the quality of services provided by the supplier.

CUSTOMER ORIENTED MARKETING INCLUDES

 

Web marketing

Email marketing

Analysing customers buying behavior online

Forecasting future marketing strategies

Building business impact models

 

BENEFITS OF CRM TO BUSINESS

 

Crm is a solution to various business activities. It helps in sales management and benefit us from linking various sales and marketing activities which will further in reducing manual labor and processes adversely. ERP can also be included in business systems can be linked with CRM for effective results. online CRM softwares are useful as all the information is already kept in the database and can seen whenever required.

 

CHALLENGES IN CRM

 

Amount of investment

Software type

Coordination with various business activities and softwares.

Effective training required to operate the softwares effectively

 

FUTURE OF CRM

 

Emerging trends in CRM can be business data analytics and big data. Social media will also play a crucial role while integrating it with CRM.If E-CRM and EDI would be used to obtain CRM solutions. CRM solution would become an integral part of overall organization. CRM would be the base for all other business activities.

Latest in Advertising
Reviews
yahooyahoomail
yahooyahoomail 3 weeks | Tuesday July 31 2018
Yahoo support is one of the oldest web based email service providers which has always maintained its leading position and never slipped from the top five slot. Yahoo e-mail started in the late 1990’s is still in a comfortable position in spite of cut throat competition in the segment. http://yahoo-yahoomail.com
About Author
merrchantcrm
merrchantcrm
Member since: Tue, Jul 31, 2018
Last time online: Tue, Jul 31, 2018
This member has not entered any personal details to his profile
Please do not Publish Multiple Articles on same subject. Authors with Good Articles will be granted instant publishing privilege. For Detailed Submission Guide view our About us page at footer section. Inappropriate Articles, Spam Articles will be turned down.
Sponsor