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Customer Relationship Management The CRM is not just an operation, but is a comprehensive approach for attracting, creating, maintaining, and expanding customer relationship. The CRM is not just belong customer management team nor marketing or sales or technology team s. The CRM is goes across all areas of the organisation.
If the CRM is left one area it will suffer. By understanding the customer in better way can deliver the value and profitability to the customers.
The CRM is about understanding the customers and managing the needs and wants of customers for increasing the profitability of organisation. In the competitive the companies have realising that the customer base is the biggest asset to them Mattson, From small to larger organisations are implementing effective CRM to create and mange the customers more effectively.
The increased customer relationship and satisfied customer results in the increased loyalty and profits.
The implementations of CRM vary greatly across different organisations. The use of tools increases enables to one-to-one marketing Peppers and Rogers, It is also seen that CRM is not just technology and applications. The fully integrated and successfully implemented CRM should cross-functional, customer focus to maximize the customer interaction integrating the whole company.
The CRM implementations shown that the customer interactions have increased and more satisfied customers reduce the overall cost and increased profitability Levine,Reichheld, The CRM helps to create customer loyalty, increased customer retention and ultimately resulting increased sales and profits.
The well implemented CRM helps to answer many of the questions about the Customers and their preferences to do an effective and focussed marketing. The customer can have multiple channels call centres, store walk-in, telephone; internet will receives the same and consistent service.
The successful CRM implementation integrates the back and front offices. In traditional environment all of these interaction points are managed independently.
In integrated CRM environment all of these interaction points are managed by same system and can have single truth of data about the customer and their activities.
The CRM touches all parts of the organisation. This means the management need to form a strong internal relationship between different departments.
Ay conflict of interest between different departments should be handled amicably and win-win manner. The employees of the company are the one who collects the data and interact with customers. The employees need to understand the CRM system to use it effectively.
The employees should inform and trained in the CRM systems properly. The CRM tools should be employees and customer friends to use them. They should form natural part of the customer interaction.
The specific examples the customer interactive screens, answering tools and IVRs.
The CRM systems should collect the data which is useful. Also only the useful data should be reported. The IT enables redesign of business process increases between different business processes, supply-chain management, external players and customers.
The CRM systems effectively collect and stores analyse the data for customers and preferences and choices. The advanced CRM systems have single truth of the customer data and enable effective customer communications giving O of customers Dyche, In effective CRM the business can make call centres more effective, cross sell the products to customers, and integrate the sales and marketing processes.
This helps to generate new customers and increase the revenue from customers. The CRM is not just installing some software and hardware. To an effective CRM, during the initial stages of the CRM, one should decide what type of data should be collected and what needs to be done with the collected.
The CRM also should store and look how the customers arrive into the organisations and where the data should be stored and how the currently used. An organisation interact with customer in several ways including the Web, telephone, mail, call centres, campaigns, advertising in media.
The data between the operational and analytical systems is importantly looked into.Customer Relationship Marketing and its Influence on Customer Retention: A Case of Commercial Banking Industry in Tanzania (Nwankwo, ) found that customer relationship management positively influences customer retention in the insurance industry, and thus helps create values for insuring and relationship influence customers.
Supplier relationship management (SRM) is the systematic approach of assessing suppliers' contributions and influence on success, determining tactics to maximize suppliers' performance and developing the strategic approach for executing on these determinations.
THE INFLUENCE OF CUSTOMER RELATIONSHIP MANAGEMENT (CRM) ON CUSTOMER LOYALTY IN JW MARRIOTT HOTEL SURABAYA Fransisca Andreani, Yesslyn Sumargo, dan Chen Lie. Customer Relationship Management (CRM), Service Savings and Customer loyalty, and the Bank Image Abstract This study aims to determine the implementation of Customer Management Relationship Management (CRM) and its effect on the image bank at .
Assessing the influence of customer relationship management (CRM) dimensions on organization performance Article (PDF Available) in Journal of Hospitality and Tourism Technology 4(3) · September.
Influence plays a role throughout the customer lifecycle and in all relationship-driven brand communications.
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