TYPES OF CUSTOMER RELATIONSHIP MANAGEMENT
In earlier times, the processes of each business function where kept isolated from one another. For this reason, the customer information was fragmented at different systems. The introduction of customer relationship management resolved the problem of not having a unified view of customers to the organization. The customer relationship management system has different tools to collect customer-related information. Then we store it into a database and are made available all across the organization utilizing the internet or intranet.
Unlike before customers have different options to choose from. If they do not feel satisfied, they can easily switch to a different company. For this reason, customer focussed approach is the topmost strategy of every business. This is why every company is looking to use customer relationship management. The general definition of CRM is as a business and technology discipline to deal with customers for enhancing revenue and customer satisfaction.
Types of customer relationship management followed by CRM strategies.
This can support direct interaction with customers through every possible communication channel like phone, fax, mobile, etc. using an operational CRM you can store information like customer requirements, preferences, discussed the matter and many more. Using operational customer relationship management we get a unified view of customers. Salesforce automation (SFA), customer service and support (CSS), etc are a few of the examples.
The data generated by operational CRM is analyzed by analytical CRM to understand the behaviour and value of the customer. Analytical CRM makes use of analytical marketing tools to get information like buying patterns, profitable and unprofitable customers, etc. It is then used to approach the customers accordingly and satisfy their needs.
Collaborative CRM can enhance the quality of services provided to customers. This, in turn, will increase customer loyalty. Moreover, it allows easy collaboration with customers and suppliers and thus will give a better sale and customer service. Partner relationship management is an example of collaborative CRM.
Even though the customer relationship management has increased the revenue by 41% per salesperson on average, still the reports say that 43% of businesses using CRM is failing in using it correctly. From this point it is obvious that to deliver quality customer service, we need customer relationship management and CRM strategy. Here we will discuss few tips to develop the right customer relationship management strategy.
Break down your goals
The primary goal of using CRM is to achieve your company goals. So as a first step in implementing the customer relationship management strategy is to find out those goals followed by plans on reaching these goals. Break down them into smaller, achievable goals. Finally, determine how and when you will achieve it.
Prioritize your customer
Unlike democracy, prioritize your customers based on how profitable they are or based on your definition of what makes your customer value. This can increase the metric effectiveness.
Communicate your plans with employees
Involve your employees in the process of customer relationship management strategy making, as it is they are the ones who determine whether your goals are met or not. The employees too can integrate with new technologies and policies to the same.
Track your customer before the first contact
Instead of using customer relationship management after few steps have been made, use it from the initial contact onwards. This will give a clear understanding of what your customer needs and what they are likely to want in the future.
Evaluate and improve
Each business has unique challenges. Thus no strategy can accurately deal with every possible contingency. This means each time something is not working you will need to re-evaluate your approach.
Customer relationship management is nothing more than a highly advanced tool that can help you reach your business goals. When clubbing your flexible business strategy with CRM, it can keep your customers at the forefront. It is beneficial to integrate your website with CRM. Finding out the most profitable customer can help you establish a long term relationship with them, to increase the revenue. An excellent website, mobile app, and a CRM can take your business to greater heights.