CRM is customer relationship management. Let’s face it, our business income is from customers, the business is concerned in getting their customers to be repeat buyers, but there is increasing stiff competition with competitors who have higher marketing budgets. Customers’ are discerning and are constantly bombarded with a lot of options in the market out there. Businesses are faced with the realization that they need to solidify their relationship with their customers.
The question is how to build the relationship? • The business needs to know its customers • Understand the customers; needs, wants, likes and dislikes • Strive to meet beyond the customer’s expectation So, you go to your CEO and say this, he’ll look at you eyebrows raised and says I pay you so much to come and tell me what I already know…?????? He can go on to make your ears burn……
Customer relationship management (CRM) is a widely implemented strategy for managing a company’s interactions with customers, clients and sales prospects. It involves using technology to organize, automate, and synchronize business processes—principally sales activities, but also those for marketing, customer service, and technical support. Customer relationship management describes a company-wide business strategy including customer-interface departments as well as other departments. The question is how, when, what type of CRM you want to use for your business, and there are many out there. Firstly consider this, your CRM should be able to provide ways to:
• Acquire: CRM can help a business acquire new customers through contact management, selling, and fulfillment.
• Enhance: web-enabled CRM combined with customer service tools offers customers service from a team of sales and service specialists, which offers customers the convenience of one-stop shopping.
• Retain: CRM software and databases enable a business to identify and reward its loyal customers and further develop its targeted marketing and relationship marketing initiatives.
Now, you are getting nervous, you can start ticking off the following benefits on off your fingers to your boss,
Benefits of having a CRM application and strategy:
The use of a CRM system will confer several advantages to a company:
• Quality and efficiency
• Decreased costs
• Decision support
• Enterprise agility
You have your CEO’s interest, but the question is how these benefits will really benefit or get us more customers and more repeat customers???” he asks….
Benefits of having a CRM strategy
Top Reasons customers don’t come back with more business for you
1. Cases took too long to resolve
2. Poor Communication
3. Customer gets tired of repeating themselves and their problems to different customer representatives each time they call to follow-up
Top Reasons for Customer Satisfaction
1. Being kept informed
2. Good Communication
3. Polite and Helpful Staff.
The success of any business depends on the way it treats its customers. Whether you are in a service-oriented industry or not, your relationship with your customers will reflect on the company’s bottom line.
Mahatma Gandhi summed it up “A customer is the most important visitor on our premises, he is not dependent on us. We are dependent on him. He is not an interruption in our work. He is the purpose of it. He is not an outsider in our business. He is part of it. We are not doing him a favor by serving him. He is doing us a favor by giving us an opportunity to do so.”
The first main benefit of a CRM application, it allows all customer information to be stored in one easily accessible place. Wait, I can hear that question burning, what about information privacy and security laws, in Europe and America there are very strict laws that govern this, you may ask.
Well, the Europe Privacy Law goes like this… “European privacy law is concerned with the protection and preservation of the privacy rights of its citizens, especially the exchange of citizen data with other countries.” Please go to http://lawbrain.com/wiki/Europe_Privacy_Law to know more
So what are the information that we store about the customer, you may ask.. Basic contact information, name, billing address, email address, history of purchases, complaints, inquiries made by the customer, interests etc. By storing this information, the business is able to search its database on its customer from a centralized location that is made available to all staff that will come in contact with the customer. A customer Mr C may call on Day 1 and Speak to your CSR A and give his feedback. When he calls back on Day 5, CSR E may be answering his call, without the CRM, Mr C will have to repeat his complain all over again, it will only serve to make him lose interest in the company and the product. Where as if there was a CRM in place, CSR E can immediately answer Mr C by identifying him by name, stating his previous call details, and giving Mr C a proper response, even if the solution is not available, CSR E can say, I do not have the solution at the moment, but I will get back to you or some suitable response that will make Mr C feel that his voice is being heard.
CRM seeks to re-create the position where you know your customer and understand what makes them tick. It uses the recent developments in software that allow mapping of complex transactions and relationships to give a holistic picture of a customer and, in theory, gives the client the same level of service through a range of possible channels.