The Growing Importance of Customer Relationship Management

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In this increasingly customer-conscious world, more and more importance is being given to the customer. And with the customer's needs and wants growing by the minute, there are almost an equal number of products to match their demands.

In this fast paced and customer-centric world, customer relationship management is a significant concept absorbed by almost all corporate firms. Large organisations all around the world are spending a whole lot of time and money on training their personnel on managing their customers well.

Companies cannot risk getting into the bad books of customers, considering a chunk of their revenue is coming from them! Customer loyalty is one of the essential aspects that companies bank on. In order to receive this, an unforgettable customer experience is a must and should be provided. Thus, the customer of today will rightfully demand a good customer experience wherever he or she goes.

Almost all companies today revolve around trying to put the customer on a pedestal. Advertisements today are purely customer-centric because they know that in order to sell, they need to appeal to the customer. Consider the large chain of pizza services known as ‘X'. When it was first introduced in India, the waiters were extremely hospitable and even gathered around to sing a birthday song for you! While leaving the restaurant, there was a small bell which was meant for you to ring if you had a good time. This kind of a place would have surely gotten a lot of ‘rings' thus enhancing the customer experience!

Businesses around the world such as Axiom, Vodafone, Aegis Global Academy, etc. today excel in customer experience management. Another way to define customer relationship management is an integrated cross-functional focus on improving customer retention and profitability for the company. Thus, these companies even have call centres where people call if they have any queries. This is an important aspect of customer relationship management as the call centres must take extreme care while handling customers' problems.

Customer relationship management involves using technology to automate, synchronise and organise business processes and its overall goals are to find, attract and win new clients while nurturing, protecting and retaining what the company already has. CRM usually goes through three phases: Acquire- where a business procures new customers through using different tools and services; Enhance- when the business/company furthers the relationship by adding incentives of different sorts, also providing the customer everything he needs as conveniently as possible and Retain- where the business/company used CRM software and databases to identify and reward its loyal customers.

 Customer Experience Solutions & Customer Relationship Management is aimed at ensuring long-term customer loyalty and retention. Briefly, it is the holistic process of identifying, attracting, differentiating, and retaining customers. Customer Experience Solutions management has grown through all of this and stands as one of the most crucial aspects to focus on today.
Customer Relationship Management involves using technology to automate, synchronise and organise business processes and its overall goals are to find, attract and win new clients while nurturing, protecting and retaining what the company already has.

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