Customer Relationships Management

CRM is a process that turns the customer’s data into customers’ loyalty through activities which is collecting customers’ data, analysing customer data and identify target customers, developing CRM through programs and implement CRM programs.

* Customer relationship management is the overall process of building and maintaining profitable customer relationships by delivering superior value and satisfaction

 Customer relationship management  is a business strategy that attempts to ensure every customer interaction that is appropriate and consistent regardless of the communication channel and that CRM is a core business strategy for managing and optimizing customer interactions across the public or private’s institutions’ traditional and electronic interfaces. CRM can be used to gain clearer insight and more intimate understanding of customers' behaviours and in helping to build an effective competitive advantage and its relationship to the e-business process (Khirallah 2000) and that committed customers can be viewed as company assets who are likely to be a source of favourable referrals and are more resistant to competitors' offers (Khirallah 2000).

An effective Customer Relationship Management (CRM) program can be used to identify, retain, satisfy and obtain customers by using technology to optimize strategies for understanding customers’ needs to manage business interactions with current, former, and prospective customers. Additionally, CRM also enables companies to maximize internal, external, marketing and customer service operations to better address the needs of the customer building a better relationship with customers that a more profitable. (Ahmad & Buttle, 2001)

Ling and Yen, 2001 assume CRM to be a vital element of a business strategy while Wayland and Cole, 1997 find it as the means to develop long term relationships with customers, given all the facts. Various experts and scholars could have various perspectives but their basic aim is to generate a remarkable customer experience. To make the most of the system lies in the hands of the organization and not the system itself. An evaluation between two stores with similar quality services and products, shows that the one with an intense customer understanding and knowledge will have its customers coming back to its store for more (Linoff and Berry 2011). They also reason that campaign management, lead tracking and call centre softwares are the components of the same CRM system. Its a radical change for most of the companies to develop a system that revolves around customer relations. The crucial points that need to be emphasized are

The use of CRM could also be used to target specific marketing programs for individual customers. It will help the company evaluate its customers, which in turn will aid Canyon Ranch in developing features, products or services that will suit clients’ preferences. The

The main goal of Customer relationship management is to create a strong bond between customers and the company. The strong bond can be build by focusing on the two main objectives of CRM. Providing the organization and all of the employees that treat customers with a single and complete view of every customer at every touch point and across all channels and providing the customer a single and complete view of the company and its extended channels (O’Brien, A & Marakas, G. 2004).

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

Today, more and more companies find that cultivating customer loyalty is a key factor to achieve success. Customer relationship management (CRM) focuses on the relationship between customer and company. Due to this feature, many companies are trying to establish their own CRM system for helping them to connect new customers and boost old customers’ long-term loyalty. CRM systems include operations and analysis, and relationship marketing strategy and supporting, customer-centric business processes (Buttle 2004). With the development of information technology (IT), using CRM system

Majority of administrations have observed the customer relationship management (CRM) design as a hi-tech explanation for glitches in individual region, convoyed by a great deal of not coordinated enterprises. in any case, customer relationship management have to be conceptualized as a strategy, due to its technological, human, and processes implications, meanwhile an organization decides to carry it out. On this concept, the main aim declared in this research is to propose, vindicate, and legalize a model based on critical success influences that will constitute a lead for companies in the

Customer Relationship Management (CRM): Customer relation management (CRM) is a cross functional enterprise system that computerizes numerous customers serving form in direct marketing, sales, customer service and accounting management. CRM allows a company to distinguish and focus on their best customer so that they can be held as a loyal customer for a longer period of time.

CRM (Customer Relationship Management) is an information industry term for methodologies, software, and usually Internet capabilities that help an enterprise manage customer relationships in an organized way. For example, an enterprise might build a database about its customers that described relationships in sufficient detail so that management, salespeople, people providing service, and perhaps the customer directly could access information, match customer needs with product plans and offerings, remind customers of service requirements, know what other products a customer had

CRM is Customer Relationship Management: A strategy of managing customer relationships based on the integration of customer information throughout a company in order to achieve maximum customer satisfaction and retention. CRM process is to collect, store, and analyze customer interaction information (customer knowledge), transforming the practice of marketing research. Marketing intelligence: The use of real-time customer information (customer knowledge) to achieve a competitive advantage. In short, Market Intelligence seeks completive advantage based on real-time customer information. MI begins with the nation of customer knowledge, a company cannot meet its customer needs and wants and thereby offer value, unless it understands the evolution of the customer. Customer Knowledge –What kind of relationships will add value will add value to customers-loyalty programs, Value perception of the customer segment and how can the value be enhanced. To create customer profiles includes customer profiles customer demographics, psychographic data, and direct and indirect communications with the company in order to develop product, service offerings, marketing campaigns, growth and retention. Granular data-Highly detailed, highly personalized data specifically structured around an individual customer. Big companies embrace the vision and long –term goal of capturing and retaining customers. With granular customer information, market intelligence helps them and other companies

Successful CRM is crucial in maintaining the business so that partner companies would keep the strong cooperation bond and alliance. For instance, hotel reward points for air ticket programme would require both hotel and air company to work together for planning and development. Thirdly, effective customer relationship management smoothens daily operation. The speed of transaction with linkage to loyalty reward schemes will be fastened if an effective system is developed. This could easily track customers’ data, preferences, any record that is needed once loyal guests return. Entire staff would be able to know the way to serve particular guests without further question. This enhances customer satisfaction and establishes a stronger commitment between the company and customers.

Customer relationship management (CRM) is widely implemented and centralized system which offers a place for interaction under a company. An employee can handle again the repeated problem which occurred in the past by re-investigate it. Besides, CRM provides a place to identify what customers wants. Employees can track customer’s expectation by their feedback and communication that can improve their buying experience and stay interact with customer in order to understand their true needs.CRM also has ability to let the company see the customer interaction in clear picture. Different customers from different segments require different products and services, but this complex situation can handle well by CRM. Furthermore, CRM provides quality and efficiency system in the company management that helps company achieves their success by building long-term customer relationship.