CRM Information

Trend of company competition is not only on the product basis, but also on customer relationship aspect. Both product and customer relationship are needed to reconsider and improved to increase company advantage to win the competition.

In naturally company will provide information for customer to help them to understand about the product so customer will know how to use, what are the ingredients and know how to contact if they need more information. Trough CRM Company understands which channel suitable to contact to and what kind of information customer need. With better knowledge of customer insight, company will communicate effectively using all media channel and mixed with suitable information content for each type media and deliver it to certain customer. Their customer will have better knowledge about the company product than competitor's product or in other word company gain customer mind share. Customer knowledge about the product will influence their decision-making and will drive customer to purchase the product.

To achieve successful CRM strategy, cannot be implemented by only installing and integrating a software package designed to support CRM processes.

CRM is a combination of enterprise strategies, business processes and information technologies used to learn more about customers needs and behaviors in order to develop stronger relationships with them. In another word CRM is intended to give the knowledge to develop and implement smarter customer strategies and mostly to maximize customer profitability.

CRM initiatives are designed with the goal of meeting customer expectations and needs in order to achieve maximum customer lifetime value and return to the enterprise. The use of CRM products, CRM software and CRM solutions will increase the effective implementation of CRM in an organization.

by: Richard D S Hill

Customers are now in charge. Thanks to the growth of the Web, it is easier than ever to comparison shop and switch from one business to another with the click of a mouse. However, research has found that in the online market, customers yearn for trustworthiness more than ever.

Customer relationships are a company?s most valuable asset - worth more everything else combined as no customers = no business. Getting and keeping more customers who stay with you longer is crucial. If your customers are loyal to your business, they will be much more likely to choose you over your competitors. Loyal customers will be much more likely to tell their friends about you. Loyal customers spend more and bring in even more new customers. Loyalty is immensely valuable. Research has shown that a 5 percent increase in customer retention rates results in a 25 percent to 95 percent increase in profits.

It?s easy to say customers are our most important assets but turning CRM strategy into bottom-line results is hard work. It means winning the battle for customers? hearts and minds every day, with each interaction at every customer touch point. Long-standing relationships only arise from trust gained over many transactions and by customers' belief that the company wishes to keep them around rather than drive them away.

Focus On Profitable Customer.

Customer database and their historical purchase at your store are valuable information and you can mine and analysis their habit so you can differentiate them base on their loyalty. Ideally Company wants to build good Customer Relationship to their entire customer. But in this real live company resource is limited and customers we have to retain or maintain are huge. Facing this situation we have to select which and how much customer to maintain.

In common practice the company will use Pareto principal approach to select 20% customer, which contribute 80% sales. Using this approached probably will give good response when we made promotion offer to top 20% customer. By using this way we are not maximizing the power of our customer historical purchase data. Beside customer spending (monetary) we have others value information such as recently customer transaction and their frequency shopping at our store. These variables will help us to predict