The customer relationship management (CRM) is an organizational approach that aims to better know and better satisfy the customers identified by their potential for activity and profitability through a plurality of contact channels, within the framework of a sustainable relationship in order to increase the number business and profitability of the business.
The organizational approach
Doing CRM is not just a computer activity, it’s a business strategy . The intention of companies adopting CRM is explicit they pursue two essential and complementary objectives , first increase their profit and secondly increase customer satisfaction in the end. We are in the idea of ??a conjunction between supply and demand.
1) Better know and satisfy customers
This principle is necessarily at the heart of the customer relationship because the knowledge of the customers must lead to a greater satisfaction of their expectations.
2) Identification by activity potential and profitability
It is important to distinguish between current activity and potential activity . This means, for example, that a small, existing banking customer can represent a large prospective customer . The identification of the potential is often delicate. We have only small clues that we are trying to identify.
On the other hand it is not only the turnover that matters but the profitability of the customer . Which means that some big customers may be unprofitable because of the amount of effort and service they require. It is often difficult for companies to accurately estimate each client’s profitability. This profitability is often evaluated by activity or by product line.
3) The plurality of contact channels
The CRM fits clearly in a multichannel context ie (the phone, internet, face to face, direct mail)
4) The lasting relationship
The company wants to know more about its customers and deepen their relationship with them. Its purpose is not limited to the realization of a sale but rather seeks a lasting relationship over time.
5) Increase in turnover and profitability
The CRM can not have for sole purpose, the customer satisfaction , because the objective of this policy and to increase the sales and the profits of the company .
It will therefore always be necessary to put program costs and their return on investment.
In summary, customer relationship management concerns all the interactions that occur between the customer and the entire sales team in order to improve the customer relationship and customer loyalty in order to perpetuate a lasting relationship. If you are a firm or a business you can hire a CRM expert like Attorney Marketing Network to help you improve on customer management.
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