Engage ERM for CRM Peak
ENGAGE ERM TO SCALE CRM PEAK
By: Prof. PRANAB K. BHATTACHARYA
Designation: SR. PROFESSOR
Organisation: Kardan University
Charahi Parwan-e-Doo
City: KABUL
Country: Afghanistan
ABSTRUCT
One of the toughest challenges being faced by business leaders of all strips today is retaining and keeping the customer satisfied for a longer duration. The success key on the effectiveness of any customer relationship management effort largely depends on the internal sales and service staffs or external call centre employees.
A cut-throat competition in the globalised marketplace has rendered undertaking customer relationship management as an imperative than just an optional feature. CRM proponents today need to invariably focus on the goals for enhancing customer loyalty, maximizing returns on customer accounts and creating strong interdependence between the customer and the company. Customer, beyond any doubt, do maximises the values of any offerings. They form an expectation of value and act on it. Buyers will buy from the firm that they perceive to offer the highest customer delivered value, defined as the difference between total customer value and total customer cost.
Losing profitable customers can dramatically affect a firm’s profit and thereby its existence. The cost of attracting a new customer is estimated to be five times the cost of keeping a current customer happy. The key to retaining a customer is managing relationships, both internal and external.
Companies must endeavour to become skilled in Customer Relationship Management (CRM) leveraging through the initiatives of Employees Relationship Management (ERM), which focuses on meeting the individual needs of valued customers. The skill requires building a database and doing extensive data mining in order to detect trends, segments and respective individual needs.
Key Words: CRM,
By: Prof. PRANAB K. BHATTACHARYA
Designation: SR. PROFESSOR
Organisation: Kardan University
Charahi Parwan-e-Doo
City: KABUL
Country: Afghanistan
ABSTRUCT
One of the toughest challenges being faced by business leaders of all strips today is retaining and keeping the customer satisfied for a longer duration. The success key on the effectiveness of any customer relationship management effort largely depends on the internal sales and service staffs or external call centre employees.
A cut-throat competition in the globalised marketplace has rendered undertaking customer relationship management as an imperative than just an optional feature. CRM proponents today need to invariably focus on the goals for enhancing customer loyalty, maximizing returns on customer accounts and creating strong interdependence between the customer and the company. Customer, beyond any doubt, do maximises the values of any offerings. They form an expectation of value and act on it. Buyers will buy from the firm that they perceive to offer the highest customer delivered value, defined as the difference between total customer value and total customer cost.
Losing profitable customers can dramatically affect a firm’s profit and thereby its existence. The cost of attracting a new customer is estimated to be five times the cost of keeping a current customer happy. The key to retaining a customer is managing relationships, both internal and external.
Companies must endeavour to become skilled in Customer Relationship Management (CRM) leveraging through the initiatives of Employees Relationship Management (ERM), which focuses on meeting the individual needs of valued customers. The skill requires building a database and doing extensive data mining in order to detect trends, segments and respective individual needs.
Key Words: CRM,
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