Every business unit emphasizes on spurting a long term relationship with customers to nurture its stability in today’s blooming market....
CRM originated in early 1970s when the business units had a manifestation that it would be advisable to become ‘customer...
Imagine walking in aisle of a typical super market (Shaw’s, Costco etc) to purchase salt, there are many offerings but...
Customer Relationship Management is a strategy which is customized by an organization to manage and administrate its customers and vendors...
Customer Relationship management is the strongest and the most efficient approach in maintaining and creating relationships with customers. Customer relationship...
CRM leverages and amplifies customer base of an organization through efficacious and efficient marketing. In fact CRM has brought up...
Human Resources are those constituents of an organization that take care of the human facets and needs of all employees...
Many companies have misconceptions about CRM in regard to assessing customer satisfaction in order to enhance business. There are several...
The Benefits of CRM Solutions There are many benefits of CRM or Customer Relationship Management software. They include automation of...
CRM or Customer Relationship Management is a system that caters to the management of a firm’s interactions with past, present,...
In CRM the alphabet ‘R’ means relationship. But there is always an ambiguity to understand the actual meaning of this...
Customers play the most significant part in business. In fact the customer is the actual boss in a deal and...
Orientation of customer means how the customer’s preferences are possessed or in what areas of business the customers are conscious....
Customer modeling is the process of predicting and forecasting behavioral aspects of customers’ future perspectives. The process includes identification of...
For a developing business it is very important to understand who are the best customers, how to find more customers...
Regression scoring is one of the difficult but more precise and faithful marketing technique as compared to profiling and modeling....
Satisfying customer needs ensures the business survival for an organization. A periodical check is required to enhance the quality of...
Building relationship with customers in current market trends is the most important aspect that an organization should focus on. Distinction...
For a positive growth of business all customers have to depend, directly or indirectly, on good and reliable suppliers. Apart...
Price sensitivity can be defined as the consciousness of the customers to cost windows or range within which they make...
One of the essential requirements in today’s business scenario is to realize and evaluate the bargaining power of customers. The...
Customers are the most important part of business. There cannot be any business without them. Only satisfied customers will be...
One of the best applications of Market research is in the area of customer relationship management. It helps an organization...
The market research process involves a round of separate stages of data interpretation, organization and collection. These stages could be...
As depicted by name Desk Research is the research technique which is mainly acquired by sitting at a desk. Desk...
After gathering the information from desk and field research the raw data must be compiled so that the taxonomic analysis...
The market research is normally outsourced to third party agencies by organizations and in turn they create a professional report...
The aim of strategic CRM is to concentrate and enhance the knowledge about customers and use this knowledge to improve...
Operational CRM is mainly focused on automation, improvement and enhancement of business processes which are based on customer-facing or customer...
Analytical CRM supports organizational back-office operations and analysis. It deals with all the operations and processes that do not directly...
Collaborative CRM deals with synchronization and integration of customer interaction and channels of communications like phone, email, fax, web etc....
Customer response is the reaction by the organization to the queries and activities of the customer. Dealing with these queries...
After emphasizing on customer response and its advantages it is also important to know how to measure these responses and...
The responses can be provided through any of the following media: Face to Face Interaction – Face to face interaction...
An organization should understand that response is the key towards creating quality relationship with customers and nurturing the future business...
In consumer sector, suppliers most probably come in contact with distributors or middle-men rather than directly to customers. For them,...
Customer acquisition is the process of acquiring new customers for business or converting existing prospect into new customers. The importance...
If in an organization, many customers diverge their way to other organizations and customer acquisition program shows less aggressiveness then...
Customer acquisition cost is the cost which suppliers invest to acquire a new customer. This cost should be always less...
Acquisition equity is the potential monetary value of acquisition for the organization. It provides the stage for customer equity data...
Every supplier wants to create and retain a loyal customer who engages in continued profitable business with him. Customer Loyalty...
Most of the organizations have murkiness in considering customer loyalty and satisfaction. They feel that both are same and a...
It is very important for an organization to identify the factors and facets which drive customer loyalty. These factors help...
When customers end up his relationship with suppliers, he breaks the loyalty with him. Following are the reasons which are...
For maintaining customers’ loyalty it is very important by organizations to track their loyalty. Following are the two methods of...
It is necessarily required for an organization to interact and communicate with customers on a regular basis to increase customer...
Customer loyalty is the foundation of sustained success for any supplier or retailer. A clear sign of a successful product...
Business always starts and closes with customers and hence the customers must be treated as the King of the market....
When the suppliers are unable to entertain customers or their business strategies fail to build a good relationship with customers,...
For improving customer satisfaction it is essential for the supplier to measure it. It is purely believed that if anything...
Managing customers’ satisfaction efficiently is one the biggest challenge an organization face. The tools or methods to measure customer satisfaction...
Customer satisfaction is the overall impression of customer about the supplier and the products and services delivered by the supplier....
It is difficult to exactly define customer retention as it is a variable process. A basic definition could be ‘customer...
Following are some of the important strategies that should be implemented for increasing customer retention: Changing Retention rates: There are...
According to the market evidences following are the main determinants of customer retention: Delivered quality of products and services versus...
Following are some important methods and tools for customer retention: Data sources and databases for retention: An important aspect for...
Customer retention is a crucial factor for organizational success in business. Many companies have misconceptions about customer retention in regard...
Irrespective of whether you are in the commercial sector or the not-for-profit sector you need to effectively manage your customers...
CRM or Customer Relationship Management is a concept all businesses practice day in and day out. In fact, a business...