Today companies are turning their focus from market orientation to customer orientation for increased revenue and stronger profitability. Over the-last few years, companies are shifting their strategic initiatives in an effort to reduce costs. Most comthe panies use Information system to manage whole business system very effectively and promptly so that customer can get the benefit on a real time. Most recently, as products become commodities and companies compete in n global economy, emphasis has changed to increasing revenue - getting higher margins from products and customers (Keith, 2008). Most of industries emerge and take off with each strategic initiative. For example, a supplier of business software solutions was looking for proactive ways to improve customer satisfaction. Improvements were achieved with the implementation of a Call Center solution as part of an overall Customer Relationship Management initiative - calls were responded to more efficiently and reported problems no longer fell through the .cracks. However they were still lacking a way to better inform the customer about the service they received. Empowering the customer was the answer. One method discussed was to send hard copy reports to each customer, but this was determined to be a costly and time-consuming process. With the customer base more frequently using the Internet as a mode of communication, Facebook, Twitter and Viber are most using and low cost communication tools so this was the logical choice for deploying self-service support statistics. By implementing a CRM solution on top of the Call Center solution, deployed over the Internet through different social sites, (Facebook, Twitter, Viber) this company was able to provide their customers with interactive analysis about their support statistics, outstanding issues, etc. The result: This reduced the number of incoming calls by customers seeking this information, and it improved overall customer satisfaction by empowering them with knowledge, thus improving Customer Retention. And along the way a growing need and a growing market for data analysis tools, to help companies take the raw data tracked in the transaction systems and generate information that drives decision-making. Nike has unique customer relation management process, its website is user-friendly so that customer can easily customize and order the shoe from online tools and order their shoe as per their requirement and design. Now a days we can directly communicate and get some information from all companies in 24/7 by using their website chatting buzzes. In Alibaba we can negotiate the price of product in website. So many multiband companies used technology to maintain their customer relation. In dell computer has unique CRM feature, customer can order and customize the computer as per their requirements and budget. They can order only what they need and what are their specification. They pay money for only their requirement. The other popular examples are many electronic appliance are make a videos for their customer to help to operate this. They uploaded this video on YouTube so that customer can get the information from YouTube so that they can easily operate the electronic appliances. This is unique CRM example. In university education also has a unique CRM feature, when someone wants to get the degree from distance education so university provides lecture notes, videos and information from social site. These all are the most popular CRM example in multiband and normal companies and here I clearly mention how social networks are helps CRM to increase business revenue in business.
As companies implement these solutions they begin to track valuable data about their customer and sales processes. A few examples of the data captured in a CRM system include (Reddy & Czepiel, 2009):
·Data on marketing leads, where they came from and where they are going, describing the beginnings of the customer acquisition process.
Transactions of the day-to-day activities of the sales representatives detailing how they acquire a customer.
·Data describing each social site moment, advertisement, phone call or field call interaction between support and the customer which are indicators of customer retention.
Traditionally this information was either unavailable or tracked manually, or possibly consolidated from a variety of disparate systems at the region or district level. Now we can get the data from every social network Facebook, Gmail, Twitter and Viber. To get access to this type of data in a consolidated manner, many companies took the route of a data warehouse or a data mart.
The Customer Intelligence solution is designed to provide performance and financial analysis to support the improvement of the processes fundamental to Customer Relationship Management - Customer Acquisition, Customer Empowerment, Customer Retention, and Customer Growth (Kubil & Doku, 2010). Customer Acquisition describes all processes relating to the initial acquisition of a customer, Customer Empowerment describes all processes relating to Customer self-service, Customer Retention describes all processes relating to ongoing support and service of a customer, and 'Customer Growth describes all processes relating to the selling of additional products and service to customers.
A successful implementation of a CRM solution will benefit nearly every department in a company. The obvious areas of impact are sales and marketing and customer support. Consider that it is the analysis of the information from a CRM system that provides the true value to the departments. The analysis of the CRM data will help each department focus on the key aspects of Customer Management their impact from acquisition to retention (Peterson, 2005). The analysis will allow users to track financial and operational performance for a specific customer or across all customers.
Kubil, B., & Doku, A. (2010). Towards a successful customer relationship management: A conceptual framework. . African Journal of Marketing Management, 037-043, ISSN 2180-2777 .
Peterson, R. A. (2005). Relationship Marketing and the Consumer. Journal of the Academy of Marketing Science , 295-297.
Reddy, S. K., & Czepiel, J. A. (2009). Measuring and Modeling the Effects of Long-term Buyer-Seller Relationships in Corporate Financial Services Markets. Journal of Business Research, 46 (3) , 235-244.
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Today companies are turning their focus from market orientation to customer orientation for increased revenue and stronger profitability. Over the-last few years, companies are shifting their strategic initiatives in an effort to reduce costs. Most comthe panies use Information system to manage whole business system very effectively and promptly so that customer can get the benefit on a real time. Most recently, as products become commodities and companies compete in n global economy, emphasis has changed to increasing revenue - getting higher margins from products and customers (Keith, 2008). Most of industries emerge and take off with each strategic initiative. For example, a supplier of business software solutions was looking for proactive ways to improve customer satisfaction. Improvements were achieved with the implementation of a Call Center solution as part of an overall Customer Relationship Management initiative - calls were responded to more efficiently and reported problems no longer fell through the .cracks. However they were still lacking a way to better inform the customer about the service they received. Empowering the customer was the answer. One method discussed was to send hard copy reports to each customer, but this was determined to be a costly and time-consuming process. With the customer base more frequently using the Internet as a mode of communication, Facebook, Twitter and Viber are most using and low cost communication tools so this was the logical choice for deploying self-service support statistics. By implementing a CRM solution on top of the Call Center solution, deployed over the Internet through different social sites, (Facebook, Twitter, Viber) this company was able to provide their customers with interactive analysis about their support statistics, outstanding issues, etc. The result: This reduced the number of incoming calls by customers seeking this information, and it improved overall customer satisfaction by empowering them with knowledge, thus improving Customer Retention. And along the way a growing need and a growing market for data analysis tools, to help companies take the raw data tracked in the transaction systems and generate information that drives decision-making. Nike has unique customer relation management process, its website is user-friendly so that customer can easily customize and order the shoe from online tools and order their shoe as per their requirement and design. Now a days we can directly communicate and get some information from all companies in 24/7 by using their website chatting buzzes. In Alibaba we can negotiate the price of product in website. So many multiband companies used technology to maintain their customer relation. In dell computer has unique CRM feature, customer can order and customize the computer as per their requirements and budget. They can order only what they need and what are their specification. They pay money for only their requirement. The other popular examples are many electronic appliance are make a videos for their customer to help to operate this. They uploaded this video on YouTube so that customer can get the information from YouTube so that they can easily operate the electronic appliances. This is unique CRM example. In university education also has a unique CRM feature, when someone wants to get the degree from distance education so university provides lecture notes, videos and information from social site. These all are the most popular CRM example in multiband and normal companies and here I clearly mention how social networks are helps CRM to increase business revenue in business.
As companies implement these solutions they begin to track valuable data about their customer and sales processes. A few examples of the data captured in a CRM system include (Reddy & Czepiel, 2009):
·Data on marketing leads, where they came from and where they are going, describing the beginnings of the customer acquisition process.
Transactions of the day-to-day activities of the sales representatives detailing how they acquire a customer.
·Data describing each social site moment, advertisement, phone call or field call interaction between support and the customer which are indicators of customer retention.
Traditionally this information was either unavailable or tracked manually, or possibly consolidated from a variety of disparate systems at the region or district level. Now we can get the data from every social network Facebook, Gmail, Twitter and Viber. To get access to this type of data in a consolidated manner, many companies took the route of a data warehouse or a data mart.
The Customer Intelligence solution is designed to provide performance and financial analysis to support the improvement of the processes fundamental to Customer Relationship Management - Customer Acquisition, Customer Empowerment, Customer Retention, and Customer Growth (Kubil & Doku, 2010). Customer Acquisition describes all processes relating to the initial acquisition of a customer, Customer Empowerment describes all processes relating to Customer self-service, Customer Retention describes all processes relating to ongoing support and service of a customer, and 'Customer Growth describes all processes relating to the selling of additional products and service to customers.
A successful implementation of a CRM solution will benefit nearly every department in a company. The obvious areas of impact are sales and marketing and customer support. Consider that it is the analysis of the information from a CRM system that provides the true value to the departments. The analysis of the CRM data will help each department focus on the key aspects of Customer Management their impact from acquisition to retention (Peterson, 2005). The analysis will allow users to track financial and operational performance for a specific customer or across all customers.
References
Keith, R. &. (2008). Customer relationship management. Industrial Marketing Management. 37 , 120-130.
Kubil, B., & Doku, A. (2010). Towards a successful customer relationship management: A conceptual framework. . African Journal of Marketing Management, 037-043, ISSN 2180-2777 .
Peterson, R. A. (2005). Relationship Marketing and the Consumer. Journal of the Academy of Marketing Science , 295-297.
Reddy, S. K., & Czepiel, J. A. (2009). Measuring and Modeling the Effects of Long-term Buyer-Seller Relationships in Corporate Financial Services Markets. Journal of Business Research, 46 (3) , 235-244.