Opportunities Today : January 2006 Issue

All about Customer Relationship Management

 

Isn't it difficult to choose only one out of the best of products or the best brands of products? Well, I don't think so ! Most of us will decide to buy the one marketed by the organization with best Customer Relationship Management (CRM). Essentially, this concept aims at maintaining or managing the relationship with all the customers of one's product or service. 

A customer is very selective when it comes to spending his hard earned money. He would not only look for features, durability and use of the product but also the returns, after sales service and pride of ownership. CRM basically overcomes customer objections, enhances the customer perception, satisfies internal and external customers and overall benefits the organization in the long run.

 

In the present market where the customer is the ‘king', organizations must focus on CRM for its success by 

1. Initially following a proper management process 
2. Secondly, planning the effective ways of handling the management 
3. Thirdly, preparing a product plan i.e. the size, quality, colour, etc of the product as per the customers needs and wants 
4. The organization should build a platform so as to ensure the smooth working of the organization through CRM.

So how does one start with CRM? An organization needs to follow 3 basic steps of CRM which are :

1. Identifying the current and potential customers
2. Addressing these customers by segmenting them depending on the income level, gender, age, occupation, location and requirement of the product.
3. Communicating with these customers either through telephones, mailers, get-togethers, gifts, etc

Today organizations should train and motivate customer service representatives so that they can effectively handle complaints, identify the customer needs, develop innovative points, initiate services, deal with dissatisfied customers and provide useful information wherever necessary.

The main objective behind this is to build up good public relationship with the customer with a view to make them feel that the organization has a personal touch with them. This can be done by sending greetings on birthdays, wedding anniversary, etc or visiting the customers regularly to get a feedback on their performance. This will help the organization to create a large customer base as the customers will develop a sense of loyalty towards the organization. Thus, CRM builds a strong brand loyalty that would help the organization to withstand competition in the near future.