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.
Wining the customer mind share is not enough. Other important thing is wining customer heart share. By using CRM, company can determine each customer segment and decide how to serve customer and deliver with suitable product and service. Better product and service company can deliver will increase customer satisfaction. Maintaining good customer service to customer, in return will gain customer heart share. Any customer relationship can be a starting point for growing customer share. But a share of customer heart is most important. When competition become tight, it is difficult to win a share of customer mind without wining the share of customer heart.
Wining the share of customer mind and heart, both will influence to customer action to purchase the product. With well-managed customer relationship, company could maintain customer relationship and managed their customer satisfaction. Those customers who have satisfied experience with best customer relationship and product satisfaction will stay longer and increase they're spending with the company.
Share of Customer's Heart
The important of emotion is enormous at the beginning of customer relationship. Customer first impressions usually determine by emotions from company communication or worth of mouth from others experiences. The stronger the mutual emotions are toward the stronger relationship.
Customer emotions are difficult to manage. Emotions can develop slowly, some time incrementally or they can rise suddenly at once. The significant emotions depend on company persistence when develop customer trust. Emotions appear as a result of interaction between customers and company. Interaction possibly from experience while using the product, communication with the sales persons, dialogue with customer service or from advertising. Emotions are important in establishing and developing customer relationship.
Good relationship is rise from positive emotionally commitment from both customer and company. Both parties ensure that they will not be disappointed by each other. The important in relationship is, relationship must be developed base on trust and mutual commitment. In tight competition, it is essential that trust exist between company and customer.
Share of Customer's Mind
Company provide product with information about the company competency and also about how to use the product or service correctly. Product information is provided to improve customer satisfaction, trough giving enough information so they can use product properly and they can maximize the product benefits. Manufacture usually also inform to customer how to behave through call center, website or other channel to build relationship. All those information are made in purpose to fulfill customer mind with information about the product and manufacture, to made customer had enough knowledge about the product and the company.
The greater share of a customer's mind that company get, the greater possibilities customer will purchase the product. This product usually position as top of brand awareness in customer mind, or the company product (identified as a brand) is first come to customer mind when customer decided to purchase that particular product.
Information and communication from company to customer is company competition from other product to get customer attention. This competition is not just giving information to be the top brand awareness but also to persuade customer to have better knowledge about the product quality and services. Prior to purchase decision, customers need enough information about the product so they can evaluate the product compare to other. This is will help customer when making decision to purchase the product, so they can justify that the product decision is made base on rational decision.
Customer knowledge about the product will help customer to fully take the benefit from the product or service they have. Knowledge is significantly increase the relationship value when the products are complex or premium product.
Share of Customer's Wallet
Company providing customers with goods or service and for this customer will give money in return. In modern marketing concept, customer willing to scarify not only money, but some time also involved time and effort. Process in delivering product to customer some time customer himself also involved to perform many tasks related to the relationship for examples in self-service business.
Interaction between customer and company hold implication for the value of customer relationship. Customers in return receive product or service on their investments (time, effort, trust and money) in the relationship and feel the benefit from it. Company correspondingly receives recourse from customers and also benefit from the same relationship. The more benefit both party get from the relationship, the more valuable the relationship is.
