Customer Relationship Management And Our Growing Mass Media Platforms

Social media has become an essential channel for corporations to build a two-way relationship with their customers. However, having a social media account cannot solve everything. To make the best use of social media in keeping a positive relationship with their customers, corporations ought to seek and maintain influence among their followers in social media, and participate in communications with them.

While savvy marketing and a targeted sales pitch may lure customers, it is how a company relates and responds to customers’ needs and concerns that determine successful customer retention. In the current social media age, consumers have a multitude of platforms, to include Facebook, Twitter, or Yelp, through which they voice their satisfaction and/or dissatisfaction with a particular company’s policies, practices, or products. Such feedback is not only instantaneous, but far-reaching as the social media explosion allows for mass promulgation of unfiltered comments, concerns, and reviews. Thus, the need for exemplary customer service practices is more pronounced today than ever before. Sound customer service can include many different services and activities, and can vary from company to company, depending on the sector and size of the organization. The onus is upon managers to formulate effective policies and attainable goals through which customer service is enhanced for their respective company, thereby improving supplier-customer interaction. (Tucker, 1994, pp.32-40)

Every company wants to make money and bring in customers, but what about making loyal customers out of them so they continue to come back? How do you even bring in potential new customers and turn them into loyal customers to begin with? The lifetime value of a customer is a predicted value of net profit credited to the total future relationship of a customer. We want to know the financial value of each customer so that we know how much to spend in marketing when looking for new customers and the potential of profits back from the money in advertising spent. The grocery store chain must start looking at customers and how to make them happy and loyal in the long run, as opposed to how to boost sales right now. From the Marketing Management book, a well-known rule states that 80 percent or more of a firm’s profits come from the top 20 percent of its customers. Thus, we want to focus on brining in new customers with successful marketing and turning them into loyal returning customers.

Thorough experiences with new technology and current marketing media research allows me to possess a range of related competencies. Anything from customer relationship management systems to building websites is straightforward work for me, but I still attest there is room for improvement and growth. Proper implementation of outreach and tracking of communication becomes a heavy task, riddled with risk and in need of political probity. I keep my skills current with attendance to business communication conferences and extensive effort to engage local writers and business

Attacks of the Customers by Paul Gillin and co-author Greg Gianforte is a great book for anyone involved in the crafting of social media strategy or customer engagement. The book looks at the power that consumers have in a social media-enabled world and how organizations can cope with this new trend. Paul introduces a set of strategies that go beyond a traditional crisis communications program by showcasing many different examples of the consumers’ attacks in the digital age.

Thanks to the fear of the backlash and to have a bigger online presence, organizations are now investing in better customer service and are taking the consumer feedback seriously. The use of social technologies has gone beyond marketing and is now used in the customer service domain and the companies have realized that the cost of retaining the customer is lesser than bringing one onboard. Before the age of social media, most consumer feedback was through phone and e-mail, however now the consumers can directly provide their feedback on the official company sites and the companies will try and

| A recent survey found that 84% of “satisfied” customers will “jump ship” for a better deal if the opportunity arises. With the marketplace becoming increasingly commoditized, customer retention has become a critical part of business strategy. (E)

In today’s business world, social media is being discussed on a daily basis. This phenomenon has taken over the marketing and advertising industries and has changed the way they handle their efforts to attract customers. There is a big misunderstanding that social media are only popular networking sites such as Facebook and Twitter, but as defined by the Merriam-Webster dictionary, social media are “forms of electronic communication (as Web sites for social networking and micro blogging) through which users create online communities to share information, ideas, personal messages, and other content (as videos).” The rise of these online communities has given companies an opportunity to engage in conversations with their customers. This in

Today, customer relationship management is very important to the business world. Most of the companies established a department and the programs to manage their relationship with the customers. Customer relationship management (CRM) is a business strategy which designed to help a company to understand and look forward to the needs of its potential and current customers (Anderson & Stang, 2000). Customer data is being collected in several different areas of the company, stored in a central database, analyzed, and distributed to key points (Anderson & Stang, 2000).The business world once was “product-centric”, the companies just provided what they could produce. However, it is now become “customer-centric”, they provide products and service

Funny commercial goes viral on YouTube! Company embarrassed when employee insults customer on Twitter feed. How do you want your company's brand to be thought of on social media? We live in an age where consumers are plugged into social media constantly, and this affects their purchasing decisions, perceptions and habits. Any business that wants to retain its image as modern and capable, as well as listening to its customers has to embrace social media, and its employees are the front-line troops in this task. We will demonstrate how the proper use of social media can enhance the reputation of a business or the lack of savvy can harm it. We will discuss the roles of social media, its importance, and why employees should be brought onboard

In the pharmaceutical industry, a company should focus on brand loyalty in which increases CLV. Building an enhance relationship will identifying prospects, fulfill customers’ needs and create a strong tight connection to a long-term marketing success. According, to research, pharmaceutical companies boosting CLV encourages new product trials, that usually facilitates a repeat in the purchases and as a result extends the customers lifetime loyalty with the brand (Compton, 2016). Focusing on CLV will help the

Customer Relationship Management is a strategic approach that is basically concerned with creating improved shareholder value through the development of appropriate relationship with key and important customers as well as customer segments (Payne & Frow, 2013). When it comes to B2B organization, by implementing customer relationship management can definitely help the particular B2B organization build solid and strong customer relationship with individuals and the business as a whole for a long-term relationships. However, Olympic Cable has a stable and well-controlled customer relationship management which has the potential of relationship marketing strategies and IT in order to create profitable and long-term relationships with their

Crisis media is now online and faster than ever before, which has both negative and positive consequences. As written in Forbes, “PR pros must monitor social media platforms and respond to crises in seconds or minutes rather than hours” (Wynne, 2015). Social media has been working quite well in favour of the general public and audience, in terms of making them aware about a new product or the harms of a newly discovered one, however it can also be the enemy of PR staff once the tide is turned against then. For example, if the harms of a product are being spread online for everyone to see, the PR specialists in

Intuit started as a small company in 1983 with a personal finance software called Quicken. The software helped solve a common household problem of balancing the checkbook. Today Intuit is one of the Fortune 500 companies as well as ranked in the top 50 companies to work for. This information systems focus company has a range of products to assist individuals, small business as well as accountants. For the purpose of this paper the focus of this paper would be the business to business aspect of their business and why it is one of the best companies to work for. The paper will first begin by providing the reader with an overview of the company, its financial overview, key businesses, key customers, stated strategy and

Customer relationship management is different in our growing mass media platforms. It can be a Public relations nightmare to contain information and get out in front of the news so that it looks like the company is being proactive versus reactive. “In a digital age, the window for responding to a crisis keeps getting smaller”(Schwartz, 2015). It is however, our right as a consumer to know what’s going on with the products we purchase, consume, and refer to others.