Essay on Critical Aspects of Customer Relationship Management

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Critical Aspects of Customer Relationship Management Overview Rich customer relationships that generate loyalty and revenue are critical to sustained business performance. Now more than ever, organizations must be able to flexibly adapt to the unique needs of individual customers. To meet this challenge, companies of all sizes are deploying Customer Relationship Management (CRM) applications and strategies across their organizations. They are coordinating multiple channels: including the web, email, call centers, direct mail and face to face – to interact with customers and meet their needs. Profitable customer relationships begin with sound planning. Actionable strategies for collecting customer data, mining it for valuable…show more content…
The ultimate objective is one-to-one customer relationships with these customers. “Customer Needs” refer to WHY the customer buys, not WHAT the customer buys. Customer needs are the internal conditions or motivating desires behind a customer’s purchase or usage of a product or service. Customer needs are complex and involve many dimensions and nuances including beliefs, motivations, preferences, life stages, decision making styles and more. A good CRM strategy will employ customer segmentation at its root, and build off the understandings of customer behaviors within the different segments. A CRM strategy should analyze customer segments and make the appropriate determinations on whether each segment is profitable for their business and how to affect the purchase patterns of the segment so the business can experience the profitable attributes of CRM; loyalty purchasing, cross selling, up selling, etc. Direct Mail fits perfectly into the customer communication strategy for customer segmentation. With variable printing and data rich files a company can use their intelligence and print relevant Direct Mail that will move customers toward the purchase decision. Additionally customer communications should also enable the company to learn more about the customer over time so that it acts upon that information to better meet customer needs in the future. This is
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