Essay about Customer Relationship Management

687 Words 3 Pages
As a Business Administration major I have learned there are several different components that make up a successful business, and it is important that everyone work together to achieve a common goal. The ultimate goal of most companies is to create a product or service that will gain a place in the market and stay there. Customer relationships are the most important factor for companies to consider when aiming toward success. What can companies do to improve customer relationships? Improving customer loyalty means the customer keeps coming back even if they are not always completely satisfied with the product. When I think about what brings customers back, and the most important part of a company’s success, it is undeniably customer …show more content…
Optimizing customer retention is becoming a major business strategy.
In my paper I will research how Customer Relationship Programs help identify, reward, and market to their most loyal and profitable customers. I will find examples of companies that have integrated analytical software and the effect it has on their relationships with customers. My paper will include a description and examples of data mining tools and analytical software companies have in place to improve relationships. I will also point out mistakes that some companies make when attempting to execute customer relationship programs and how to avoid them.
There are several ways that can work for businesses to improve their customer loyalty. According to the Harvard Business Review these programs can eliminate confusion, lead to stronger relationships and sales, and produce operational efficiency. It will help companies get closer to the customers. What these companies will want to avoid will be forcing people to do things one way together as a single entity rather than realizing each division has their way of doing things. A better way for everyone is by matching a company’s data on products, filtering it through the linked databases and delivering it to the customers in a meaningful way.
Customer loyalty and retention is the best way to improve customer relationships. Customers buy value, so it makes sense that improving…