Customer Service Information |
|
CRM - Its Relevance
In today's demanding economy, the first line of any business during economic uncertainty is to get closer to the customer. Customers often want information along with a quote or invoice on the spot. With lack of information, the customers do not fix loyalty to a particular product or service and tend to depend on impulse decision. The companies are no exception to this. In the process "hot prospects" turn ice cold. Speed of information flow and speed of converting information into prospect are vital factors for survival. So access to data is a must. E-business has revolutionized the way for business to interact with customers. What is CRM? Business's effort to get closer to a customer is considered Customer / Constituent Relationship Management (CRM). CRM is a concept that combines management thought and business practices. CRM is about developing, implementing business strategies through supporting technologies to narrow down the gap between an organization's current and potential performance in terms of customer acquisition, growth, and retention. The sole purpose of CRM is to connecting the company to its customers and providing direct support. It is an effort of the business to personalize, source business intelligence and warehousing customers' requirements. CRM is re-designing of functional activities to drive the process of re-engineering. Its focus is on managing and optimizing the entire customer life cycle. Customer / Constituent Relationship Management (CRM) encompass the totality of the business processes that an organization performs to identify, select, acquire, develop and retain its customers. CRM encompass a wide breadth of functionality. CRM improves Return on Assets. The asset in this case is the customer and potential customer base. In other words, Customer / Constituent Relationship Management (CRM) refer to management of all interactions with the customer that an enterprise indulges in. Why CRM? Today, enterprises are finding that they no longer have the initiative. Customers are now empowered by ready access to information and have greater access to businesses than ever before they are demanding. It is essential to excel with each customer by sales, service agents, traditional face-to-face interaction, while contacting by phone, fax, and e-mail correspondence. Management is interested in improving productivity, profitability and enhancing management/operational information and reduction in cost of handling customers. The organisation is interested in high powered continuous information for analysis. CRM aims in improving the ability to plan and use finite resources, increase customer support, improve the customer experience, improve morale for customer support personnel and reduce the cost of providing service and support. CRM integrates all the different requirements of different functions to that of customer's requirements by co-coordinating and unifying all points of interaction to provide a big and better picture on customer satisfaction. This functionality is portrayed as: ? CRM (Customer / Constituent relationship management), ? CRM process management, and ? CRM access management. CRM is critical to all industries, a dominant business driver. CRM based business objectives are for improving customer service, enhancing customer relationships and reducing distribution (channel) costs. Customer / Constituent Relationship Management (CRM) helps an enterprise build a database about its customers. Therefore, management, and functionaries of management could access information about all areas for value addition. Benefits of CRM ? To develop and design strategy for their business ? To develop business intelligence ? To develop innovative solution ? To improve customer service relationships as a competitive differentiator. ? To integrate customers' view in changing market conditions ? To achieve business objectives, increase service level commitment ? To provide investment protection by increasing profitability, productivity & cost reduction. ? To re-engineer business strategies. ? To transform business. ? To transform to a common form of user interaction with the enterprise. ? To identify primary determinants of loyalty. ? To understand the reason why customers defect. Hurdles in implementation: ? Lack of awareness, ? Affordability ? Slow adoption rate, ? Lack of proper databases ? Usage of old processes ? Implementation of CRM in a phased manner. ? CRM is seen only as a technology that automates certain processes ? Lack of understanding of the concept Conclusion There are many reasons why CRM has not taken a leap. Though there are technologies and systems to gather useful information about their customers, they either not use the system to collect information or do not use the collected information. CRM solutions are seen among many as just a software packages for call centre management and not as a strategic initiative to customer relationship management. An effective CRM is the one that enables an organization to easily gather critical information that becomes a valuable resource for improving both the top (revenue) and the bottom (profit) lines. The top line is improved by increasing sales through better data management, and improving marketing effectiveness by collecting, analyzing, and using valuable customer information. The bottom line is improved by reducing service times and costs, and by improving the general productivity of the staff. Some realise the importance of service as a differentiator due to stringent competition. It is service that drives organization to CRM solutions. This will only change when management truly understands and is committed to CRM as a way of doing business. A total appreciation of CRM is gaining momentum. J. Solomon Prabakar
MORE RESOURCES: NTTA customer service, Tarrant County district clerk spar over mistaken charge The Dallas Morning News No, GPT-4o isn't going to kill teaching or customer service Business Insider Frost & Sullivan and SOCAP Forge Strategic Partnership to Elevate Customer Care and Experience Yahoo Finance How did customer service get so bad? Financial Times Verizon sharpens GenAI tools to impro... Mobile World Live Cognigy Named a Leader in 2024 “Conversational AI For Customer Service” Report The Bakersfield Californian What Consumers are Saying About AI and Customer Service Customer Think CommBox Launches Connect Partner Programme, Offering Market-Leading Automation and AI Capabilities to ... Business Wire Frequently asked questions and customer service CSPI Newsroom Opinion: If it's not dead already, customer service is certainly on life support • Asheville Watchdog Asheville Watchdog Poll workers emphasize election confidence, customer service • Indiana Capital Chronicle Indiana Capital Chronicle Senate Passes FAA Bill on Air Safety and Customer Service – The Presidential Prayer Team The Presidential Prayer Team Top Banks Offering 24/7 Customer Service in 2024 Business Insider For 13th Consecutive Year, Wolters Kluwer Customer Service Wins NorthFace ScoreBoard Awards Silicon Canals They've got your back: Meet American's system customer service managers - American Airlines Newsroom They've got your back: Meet American's system customer service managers American Airlines Newsroom Customer Service & Support Hillsborough County (.gov) The Marriott Maze: Navigating Customer Service Over $11, When Does It Stop Being Worth It? View from the Wing Rebuilding the IRS Improves Customer Service and Reduces the Tax Gap Center For American Progress AI enhances flexibility and efficiency for customer service centers, new research reveals | Binghamton News Binghamton University Customer Service Rep Confronts Customer Committing Fraud With The Consequences Of Her Actions. – 'It's okay to do ... Twisted Sifter Porsche claims first place for customer service among premium car owners in J.D. Power Study Porsche Newsroom How to contact Amazon UK Customer Service About Amazon.co.uk The correct airline customer service numbers to help avoid scams The Washington Post Welcome to Riverside Public Utilities City of Riverside (.gov) Lee Michaels’ Scott Berg: How to make unhappy customers happy Greater Baton Rouge Business Report Forbes Recognizes Regions Bank for Best Customer Service Regions Financial Corporation Genesys & ServiceNow join forces to revolutionise customer service ChannelLife Australia Customer Assistance Programs DC Water Customer Support GE Aerospace Senate passes bill improving air safety and service for travelers, a day before FAA law expires Chicago Tribune Contact SEA Customer Care portseattle.org Verizon Down? Users Report Service Outage, Call Dropping | Ways To Troubleshoot And Customer Support Times Now Recent Developments That Could Impact How Companies Offer AI-Based Customer Service Chatbots | Insights Skadden, Arps, Slate, Meagher & Flom LLP Britons Spend 800 Years Waiting to Speak to HMRC Business MattersBusiness Matters Billing and Insurance WellSpan Health Air India rolls out iPad app for on board customer service Live From A Lounge At some point, construction gave up on customer service – but it's far from a lost cause New Civil Engineer Buccaneers Continue to Excel in Season Pass Member Customer Service Experience, Voted No. 1 for Sixth ... Buccaneers.com AI is replacing customer service jobs across the globe The Washington Post Customer Service Center - Recreation & Wellbeing University of California, Berkeley Social media customer service statistics to know in 2024 Sprout Social |
RELATED ARTICLES
What Every Employee Should Know About How to See Customers Problems from Their Creative Side Customer Service is a blessing and a curse; a blessing to the customer and a curse to you, the employee. At least so it seems. Top 10 customer service tips 1. Hire people who have a service attitude. Cultivating the Trust Factor In today's highly competitive economy, it is difficult to maintain a significant market advantage based on your professional skills alone. Developing a trusting relationship with your clients is key to your success. Customer Service Tips - Is Your Business A Leaky Bucket? Customer service and customer service training are vital for any business.But, is your business a leaky bucket?This is a question I always ask small business owners who attend my marketing seminars. What Every Manager Should Know About How to Win the Loyalty of Customers Dr. Michael LeBoeuf, in his cassette album entitled, Win Customers and Keep Them for Life presents twelve principles that will transform the workplace into a customer-driven, highly motivational team. Dissatisfied or Rude Customers Can Be Satisfied Customers On a recent airline flight I was an upset customer. I was arriving on a late inbound flight and connecting with the last flight out on the same airline, but the connecting flight left without me! At first, I was furious when told to wait in a line of 300 people to resolve my problem. How to Walk the Floor and Talk to Customers This may seem a strange topic to introduce. Yet, it is the most under-used skill by many retail managers, but one of the most important roles in their supervision. Sending Mixed Signals Can Send Your Clients Away I call it the "wave and roll."You walk up to an intersection. Customer Feedback: Everyone has an Opinion - USE IT! Have you ever been in a department store and known exactly what you were looking for but couldn't locate any staff to help you find it? Think of your website as your very own department store, and your contact numbers, email addresses, and FAQ's navigational buttons as your staff. Without these handy interaction tools, your purchaser will get frustrated and E-shop somewhere else. Quality vs. Quantity There is a battle in Call Centers. The teams are Quality vs. Invalid Excuses for Poor Business Results - The Weather Note to Kmart: It wasn't about the weatherIn the 1970s Kmart was the retailer to beat. No matter what happened, they seemed to turn profit. Retail Store U-Scan Machines: Self-Serve or Voluntary Part Time Job? Do many of us realize that we are working an unpaid part time job for the grocery stores and some home appliance stores? We are ringing up our own goods, are not getting any price discount for doing so and are saving these retailers money.Each self-serve lane contains two to three self-serve scanners. Your Career Plan--Think Like A CEO You've been going 6-to-late; exhausted by running the supersonic treadmill of life and wish you had a different job. But you can't because you have no time and you're left spent at the end of every day. You MUST Sweat the Small Stuff It's The Little Things That Make or Break a Small BusinessIf you make a poor impression in small things, why should customers trust you with larger ones like buying your product regularly or giving you a big order? In the last two days, I've seen this simple fact proved three times.I ordered software from Company A. What Every Manager Should Know About How to Learn from the Complaints of Customers and Employees Listening to complaints, whether they're reasonable or not, is a part of every manager's job. Sometimes complaints can be overwhelming. A New Way To Handle Complaints, Or Is It? What a lot of money we have been wasting on dealing with customer complaints.Instead of dealing with them and attempting to satisfy the customer we should create a process that makes complaining so difficult then when customers complain they get such a huge negative experience and never receive any satisfaction. Putting The Serve Back Into Customer Service Good service is easy to spot and hard-to-find. Mediocre serviceoccasionally stands out but only because it's the cream-of-the-crap. Breaking the Ice and Winning Over the Client! Wherever you turn these days you'll find articles covering every business strategy and tactic available to man, from how to make a great presentation to strategies for success all the way to negotiations and prospecting and getting a client to commit. But hardly anyone touches on the subject of breaking the ice with a new client and winning them over. Businesses Need to Rehumanise Big companies and corporations have lost the human touch. The question is, when will humanity catch on, or like robotic sheep will we do whatever the business shepherds tell us, no matter how bad we are treated? I am talking from firsthand interaction here. Marketing as a Spiritual Practice "Marketing as a spiritual practice." It sounds contradictory - how can sales and promotion possibly be considered spiritual? But the secret is, once you truly understand that marketing isn't all about struggle, jargon, tricks or gimmicks, spiritual practice is the very root of success. |
home | site map |
© 2006 |