Customer Relationship Management

Featured Customer Relationship Management Article

Customer Relationship Management

´╗┐Understanding The Customer Centric Approach

Research estimates that at least half of Customer Relationship Management (CRM) programs are doomed to fail. Why? Because businesses just install software packages and expect everything to fall into place. Of course, no business approach can work like this. Just as every business needs a business plan, businesses must also have a plan for using CRM. This is where a customer-centric approach comes in. It recognizes that the customer is a company's most valuable asset. Without customers their are no sales without sales their is no business! Before businesses choose to create their CRM approach asking a couple of questions about their customer can make sure their make a sound decision.

Determining Customer Value

- How does my customer contact my business? How do I communicate business services and products to my customers? How much money do I spend in current contact and advertising methods?

- How often do my customers make purchases? How much do they spend at one time? How often do my customers become repeat buyers?

- What value do I have to my customers over the competition? What needs of my customers am I fulfilling? What customer needs do my competitors fulfill better?

- How satisfied are my customers with my methods of reaching them?

- Where are my customers located? What is the size of my customers' family? What is the annual household income of my customers?

- How many customers put in a request for support? How satisfied are my customers with helpdesk and field service support methods currently available?

- What similarities do my customers have? How long have I had a business relationship with my customers?

Taking Steps to Increase CRM Effectiveness

Customer Relationship Management or CRM can be complicated and complex, especially for companies that have no experience in the arena. Thankfully, information on CRM is plentiful. The Customer Relationship Management Association (CRMA), representing the CRM industry offers whitepapers, industry standards and access to provide training and expert education on CRM subjects. A number of CRMA certification courses and education courses are also available.

Companies can also make CRM more effective by using platforms that are designed with the need of the customer in mind instead of the business.

Facebook offers a huge platform for businesses to take advantage of Customer Relationship Management.

As customer satisfaction increases sales have also been proven to increase but creating a satisfying experience with the customer is key. Look for CRM solutions that build a customers trust and loyalty to your company instead of eroding it! If a CRM solution is not well thought out, it means customers have to spend more time not less when calling or contacting your business. Reevaluate your methods; find out where your CRM strategy is failing, and then work to make this strategy more effective and useful to your clients. Customers want efficiency and immediate results if you value their time and their business you will work to make CRM not just helpful to your companies' way of doing business but also catering to your customers' lifestyle.