Customer Relationship Management is a very complex and vital factor in the process of growth and profitability of any business, especially in the complex business milieu of today. The ticklish concept is rather a line of attack that connects and disconnects a company from its customers. Through an effective implementation of this rather modern administrative strategy, the staff of a company is offered an across-the-board view of the valuable customers, their profile, aspirations, and satisfaction as well as dissatisfaction levels. The phenomenon is a web, binding people, processes and data together. Almost every business venture, be it hospitality, health, education or any other discipline, do undertake these days, Corporate Relationship Management as an essential ingredient of their day-to-day administration.
The functioning of effectively run organizations revolves around the fulcrum of running a business in a customer-centric manner. Every specific area of a business, be it production, product innovation, marketing, IT, field support fits within the umbrella of effectively managing the stake holders. The vision of the management about the short-term and long-term goals of business, gearing and honing the inherent skills of existing and future staff to suit the needs of business, culturally pruning the work force tune with the defined objectives of business are all spoken and unspoken ethics of satisfying the ever-increasing demands of the customers.
The customer base of a business grows vastly if the takers of service are properly handled and thereby the profit graph gets maximized.
“Customer Relationship Management “is a business approach that integrates people, processes and technology to maximize the relations of an organization with all types of customers. The true… (endeavour)… is to transform strategy, operational processes and business functions in order to retain customers and increase customer loyalty and profitability” as Aris Pantazopoulos, a Customer Relationship Management expert opined.
A business house basically understands the current expectations of its customers and goes a step further and anticipates the future hopes from them. The process is a voyage embracing carefully premeditated proposals as also technical innovations to manage an enterprise primarily keeping in view the existing and potential customers. Decisions are arrived at more through a careful process of data analysis than just instinctively.
What is evolved is a win-win platform upon which the business unit and the customer share rewards in the form of enhanced service for the customer and for combating brand war for the provider of services.
Apart from merely owning the loyalty of the existing customers, business houses resort to distinct methodologies to turn themselves as preferred destinations by the customers for all their existing and future requirements.
Minimizing business conflicts by foreseeing them, nipping them in the bud, amicable resolution of the conflicts also forms an essential ingredient of Customer Relationship Management. Many corporate have their own tailor-made, special software to monitor Customer Relationship Management on an ongoing basis with specially appointed task force of officials to act upon. Capturing a 360-degree view of the existing and prospective customers of a business is, all said and done, is what propels a business organization to embark on the task of Customer Relations Management.
At the beginning level, the Customer Relationship Management software normally comprises of retaining and retrieving the fundamental contact information of customers. It is common knowledge now that every shop and business unit these days obtains the mobile number of the visitors to their place of operation. At the apex point, the basic data obtained from the grass root business outlets is incorporated into the data base of the corporate and periodically examined while important business policies are being evolved.
The designated call centers, branches and the corporate Head Office work in cohesion to maximize business and customer satisfaction, Despite the use of carefully structured software, lofty intentions, effective Customer Relationship Management may not required objectives unless the top brass leadership has a deep-rooted commitment to win customers through qualitative service. Technology will be a crucial enabler if only the human driving elements are intact.
Finally, a brainy, prompt and raptly connected human responsiveness is what makes Customer Relationship Management click or fail.