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Advertising Section
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Customer Relationship Management
If Profit is the point, Loyalty is the Key |
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 What
is Customer Relationship Management?
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Customer Relationship Management (CRM) is a new way of doing something as old as business itself. But itís not easy to keep customers happy, and itís getting harder all the time.
CRM: Keeping Customers Loyal Customers are now in charge. Thanks in large part to the explosive growth of the World Wide Web, itís easier than ever to comparison shop and switch suppliers with the click of a mouse. ìAccount control,î if it ever existed, is officially dead. To make matters worse, development cycles are shrinking to the point that an innovative product designed today is copied tomorrow and cast on the commodity junk heap next week. And this forces companies to keep investing in R&D in search of the ìnext big thing.î The next big thing is already here. But donít look for it inside the company, look outside, to your customers. Customer relationships are a companyís most valuable assetsóworth more than products, stores, factories, or even employees. Especially now in the Internet economy, getting and keeping the most profitable customer relationships is job #1 for CEOs. Customer Relationship Management (CRM) is the strategy to do just that. Itís easy to say ìcustomers are our most important assetsî or craft vision statements with trendy customer-friendly buzzwords. However, turning CRM strategy into bottom-line results is hard work. It means winning the battle for customersí hearts and minds every day, with each interaction, through all direct and indirect sales channels. Creating a customer-focused company starts with the definition of a CRM strategy, which must then be filled out with new work processes, organizational changes, and even a revamped corporate culture. While these changes are definitely not easy, consider the alternative: your competitors beating you to the punch, and to your customers. Where does technology fit? Itís a tool, nothing more. Itís the means, not the end. Properly focused and implemented, CRM software applications support more effective marketing, sales, and customer care processes, enabling a customer experience that builds loyalty and long-term profitability. Invest wiselyóyour customer relationships are at stake! |
