Is Customer Relationship Management Vital For The Growth Of A Company ?

2107 words - 8 pages

The definition we make for ourselves of Customer Relationship Management is subjective to one another ; but in simple terms, it is a means of collecting information about your contacts in a structured system that allows the information to be shared and used by different people and departments within an organisation. It is, therefore, difficult to find a descent and formal definition that encompasses every sorts of CRM. In some manner, if we take a close look at its role in a business company, we can find a concrete definition that will help us answer our question. According to Webopedia, Customer Relationship Management , known as well as « CRM » is a business strategy that entails all aspects of interaction that a company has with its customer, whether it is sales or service-related by involving the use of technology to organize, automate, and synchronize sales, marketing, customer service, and technical support.

Indeed, CRM are used to understand customers, retain them through better customer experience, attract new customers, win new clients and contracts, increase profitably and decrease customer management costs. It is therefore a vital element for a company to emerge

Now that we have established a definition, we will explore the cases to wich it applies and how CRM is used today while also looking into the politics of its limits.

The concept of CRM first arrived during the period of 1990s, by promulgating the idea that the customer is the base and no business can be sustained not to speak of its expansion and his emergence. In point of fact, any business is highly dependent on its customers. Traditionally, smaller businesses were thought to be more able to understand their customers' needs, simply because their size made it easier. In effect, small businesses such as a corner shop where the saler can speak face to face to his customers on a daily basis strengthens the seller-customer bond, therefore making it much easier to know what the customer needs and wants., larger businesses such as supermarket chains or banks need to organise surveys and questionnaires to respond to their customers desires wich makes the relationship between the customer and the saler much more distant.

That said, this is why big companies started to invest in CRM a few years ago, with the purpose of acquiring knowledge and understanding. Indeed, this comprehension is required to meliorate the saler-customer relationship in order to serve them more effectively. It is therefore crucial to understand what the customer expect from a company. What is this envy that we all, as consumer insist on having from a enterprise ?

As seen in the Customer Relationship Management Book written by Francis Buttle , Most evidently, « customers want cost-effective products or services that deliver required benefits to them. » This is why it is vital for a company to look at things from the customer's perspective. Moreover, customers want to have their needs...

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