| Customer relationship management - managing the | | | | |
| relationship of the customer with the company. Isn't | | | | 1. B2B relationships: Business to business relationships |
| that a relatively simple concept? Then why the entire | | | | which includes relationships with partners, suppliers |
| hullabaloo surrounding it? Because, this seemingly | | | | and distributors or retail channels. This is a completely |
| simple concept has changed the way the world does | | | | external network that works as a support system |
| business with its customers. It has taken the most | | | | for internal networks. |
| important aspect of a business, the customer and | | | | 2. Data Analysis: Undoubtedly, the backbone of the |
| brought it to the spotlight. | | | | entire CRM system. Customer data to be analyzed is |
| If a business has a good relationship with its | | | | added constantly and is combined with predictive |
| customers then chances are that it is already mauling | | | | analytics to plan out and strategize targeted |
| its competitors in the face or is on the way to doing | | | | marketing campaigns, newer product models, |
| it soon. A customer may perceive the entire business | | | | conceive new strategies and lastly to analyze the |
| as one single entity. But there are different | | | | very success of the CRM model. |
| employees in different roles and departments who | | | | 3. Customer interaction channels: Customer interaction |
| work synergistically to enhance each customer | | | | channels are a direct indicator of the success or |
| experience. | | | | failure of a CRM model and needs to be constantly |
| Customer relationship management or CRM takes it | | | | monitored. A better business has fewer calls/emails, |
| one step ahead and gives access to a vast amount | | | | lesser escalations and a high customer satisfaction to |
| of customer information to the organization. | | | | dissatisfaction ratio. |
| Aspects of CRM | | | | There are several types and variations of CRM |
| There are several aspects of customer relationship | | | | available in the market today. You can choose one |
| management which are related to each other and | | | | that best suits your needs and requirements. |
| play a key role in the outcome of the entire process. | | | | |