Customer Relationship Management (CRM)
Fri. 12, Aug, 2016. 07:04:21 pm
Customer Relationship Management (CRM)
If the main goal or objective of any business is to satisfy a need or to provide a solution to a problem, and by extension - customer satisfaction; it means that an excellent customer relationship is non negotiable. If businesses truly care about what their customers think and feel, then a robust customer management and engagement would be at the heart of every business decision-making. In business, it's not really much about how you see it, but rather how they (your customers) see it. This makes it imperative for businesses to continue investing in customer management applications and platforms, so as to keep pace with the ever changing needs and demands of their valued customers. Customer relationship is never a one off investment, but rather a progressive, dynamic and continuous investment, with the sole reason of ensuring that you are on the same page with your customers and prospects.
Customer relationship management (CRM) is a term that refers to practices,
strategies and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle, with the goal of improving business relationships with customers, assisting in customer retention and driving sales growth. CRM systems are designed to compile information on customers across different channels -- or points of contact between the customer and the company -- which could include the company's website, telephone, live chat, direct mail, marketing materials and social media. CRM systems can also give customer-facing staff detailed information on customers' personal information, purchase history, buying preferences and concerns.
Customer data analytics can reap significant financial rewards for your organisation’s sales, marketing and customer service departments. With so much data to contend with, companies often struggle with making sense of information from customers, public records and external databases. Interestingly, we can help in evaluating the newest sales and marketing tools, making the process easier for IT managers and sales executives.
Depending on the business needs and capabilities, the CRM can be programmed to perform specific functions, with every feature the company deems necessary captured during the development stages. The software can also be purchased as standalone, and then configured to suit the business needs of the organisation. With the advent of social media platforms, the CRM is now designed in such a way as to integrate the platforms, helping in analysing the customers' purchasing and interaction history, preferences and sentiments towards certain products and services. The CRM database stores all the interactions (which may come in the form of enquiries, requests or complaints) across multiple channels and platforms, for easy access and processing when needed.
You are still in business because there are customers who still think or feel that you have something to offer. Staying at the same position (without improvement) is the fastest way to backwardness. Today's market place requires you to run and compete as much as you can, just to maintain you current position. Never take your customer relationship for granted, or believe that there is an investment in customer satisfaction that is too much. When they are well satisfied, they tell others about your company and what you offer.
Keep investing in CRM softwares and platforms, the reward is immeasurable with continuous growth of your business almost guaranteed. Businesses are there to satisfy the customers, out of which comes the profit.
Smiling customers: growing your businesses.
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