Customer relationship management concepts and tools

Customer-relationship management - Wikipedia

customer relationship management concepts and tools

Customer-relationship management (CRM) is an approach to manage a company's interaction . CRM tools with marketing automation capabilities can automate repeated tasks, for example, sending out automated marketing emails at certain times to .. Customer Relationship Management: Concepts and Technologies. Customer Relationship Management: Concepts and Tools is a breakthrough book that makes transparent More. Book. English. Published Oxford: Elsevier. Customer Relationship Management: Concepts And Tools. Author, Buttle Francis. Edition, 2. Publisher, Elsevier, ISBN, ,

Depending on these data, sales prognoses and turnovers can be calculated. Through this predictive analysis customers and target groups can be segmented better as a result of which marketing campaigns can be tailored to the customers demands.

customer relationship management concepts and tools

Customer service Although customer service mainly focuses on helping customers, it is also a source to document customer experience. Cooperation A good system encourages cooperation between various departments such as sales, customer service and marketing. The common objective is to share as much information as possible so that the customer can be serviced even better. A marketeer can therefore respond to a product demand of a customer. A well-integrated system will prevent different departments from contacting the customer with the same information.

A central application will make customer contact easier and saves time. In addition, information must be extracted and collected from several sources and they must be integrated in a comprehensive system. Social media Customers use social media more and more often to voice their opinions or share the experiences about companies, products and services.

Sometimes this has far-reaching and major consequences for companies. This is why companies want to take part in the dialogue via social media to influence their customers.

customer relationship management concepts and tools

This makes it possible to identify various customer groups, improve customer retention and adjust product supply. Customer privacy must always be taken into consideration. When customers do not give their permission to divulge information, data security is required. Do you recognize the practical explanation or do you have more additions? What are your success factors for the good customer or stakeholder management system? Share your experience and knowledge in the comments box below.

If you liked this article, then please subscribe to our Free Newsletter for the latest posts on Management models and methods. More information Payne, A. These days, companies store and receive huge amounts of data through emailsonline chat sessions, phone calls, and more.

All of these are signs of what types of relationships the customer wants with the firm, and therefore companies may consider investing more time and effort in building out their relational intelligence. Social media such as Facebook, Twitter, blogsetc. Understanding the customer and capturing this data allows companies to convert customer's signals into information and knowledge that the firm can use to understand a potential customer's desired relations with a brand.

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This helps convert data into profits for the firm. Stronger bonds contribute to building market share. By managing different portfolios for different segments of the customer base, the firm can achieve strategic goals. For example, Harley Davidson sent its employees on the road with customers, who were motorcycle enthusiasts, to help solidify relationships. Other employees have also been trained in social psychology and the social sciences to help bolster strong customer relationships.

Customer service representatives must be educated to value customer relationships, and trained to understand existing customer profiles. Even the finance and legal departments should understand how to manage and build relationships with customers. These systems codify the interactions between company and customers by using analytics and key performance indicators to give the users information on where to focus their marketing and customer service.

This allows agents to have access to a caller's history to provide personalized customer communication. The intention is to maximize average revenue per userdecrease churn rate and decrease idle and unproductive contact with the customers.

Customer relationship management: concepts and tools by Buttle, Francis

The gamification of customer service environments includes providing elements found in games like rewards and bonus points to customer service representatives as a method of feedback for a job well done. Automation prevents this by having pre-recorded audio messages that help customers solve their problems. For example, an automated contact center may be able to re-route a customer through a series of commands asking him or her to select a certain number in order to speak with a particular contact center agent who specializes in the field in which the customer has a question.

This also saves time on behalf of the employees. These customers also share their own opinions and experiences with a company's products and services, giving these firms more insight. Therefore, these firms can both share their own opinions and also track the opinions of their customers. The systems take in information based on a customer's physical location and sometimes integrates it with popular location-based GPS applications. It can be used for networking or contact management as well to help increase sales based on location.

For the best level of CRM operation in a B2B environment, the software must be personalized and delivered at individual levels. There are fewer figure propositions in business-to-business, but in some cases, they cost a lot more than business-to-consumer items and relationships in business-to-business environment are built over a longer period of time. Furthermore, business-to-business CRM must be easily integrated with products from other companies.

Such integration enables the creation of forecasts about customer behavior based on their buying history, bills, business success, etc. An application for a business-to-business company must have a function to connect all the contacts, processes and deals among the customers segment and then prepare a paper. Automation of sales process is an important requirement for business-to-business products. It should effectively manage the deal and progress it through all the phases towards signing.

Finally, a crucial point is personalization. It helps the business-to-business company to create and maintain strong and long-lasting relationship with the customer.