Articles on Customer Relationship Management

Customer Relationship Management – What is CRM ?

Every business unit emphasizes on spurting a long term relationship with customers to nurture its stability in today’s blooming market....

Origin of CRM

CRM originated in early 1970s when the business units had a manifestation that it would be advisable to become ‘customer...

Customer Based Brand Equity

Imagine walking in aisle of a typical super market (Shaw’s, Costco etc) to purchase salt, there are many offerings but...

Features of CRM

Customer Relationship Management is a strategy which is customized by an organization to manage and administrate its customers and vendors...

Importance of Customer Relationship Management (CRM)

Customer Relationship management is the strongest and the most efficient approach in maintaining and creating relationships with customers. Customer relationship...

Customer Relationship Management (CRM) and Marketing

CRM leverages and amplifies customer base of an organization through efficacious and efficient marketing. In fact CRM has brought up...

Customer Relationship Management (CRM) and HR

Human Resources are those constituents of an organization that take care of the human facets and needs of all employees...

Misunderstandings about Customer Relationship Management (CRM)

Many companies have misconceptions about CRM in regard to assessing customer satisfaction in order to enhance business. There are several...

Benefits, Challenges, and Future of Customer Relationship Management Software

The Benefits of CRM Solutions There are many benefits of CRM or Customer Relationship Management software. They include automation of...

CRM (Customer Relationship Management) Software and Its Importance

CRM or Customer Relationship Management is a system that caters to the management of a firm’s interactions with past, present,...

What is Customer Relationship ?

In CRM the alphabet ‘R’ means relationship. But there is always an ambiguity to understand the actual meaning of this...

Different Types of Customers

Customers play the most significant part in business. In fact the customer is the actual boss in a deal and...

Orientation of Customers

Orientation of customer means how the customer’s preferences are possessed or in what areas of business the customers are conscious....

Customer Modeling – Meaning and its Different Aspects

Customer modeling is the process of predicting and forecasting behavioral aspects of customers’ future perspectives. The process includes identification of...

Customer Profiling

For a developing business it is very important to understand who are the best customers, how to find more customers...

Regression Scoring – Meaning, its Process and Types of Scoring

Regression scoring is one of the difficult but more precise and faithful marketing technique as compared to profiling and modeling....

Quality of Relationship with Customers

Satisfying customer needs ensures the business survival for an organization. A periodical check is required to enhance the quality of...

Need of Relationship with Customers

Building relationship with customers in current market trends is the most important aspect that an organization should focus on. Distinction...

Customer Relationship with Supplier

For a positive growth of business all customers have to depend, directly or indirectly, on good and reliable suppliers. Apart...

Cost/Price Sensitivity of Customers

Price sensitivity can be defined as the consciousness of the customers to cost windows or range within which they make...

Bargaining Power of Customers

One of the essential requirements in today’s business scenario is to realize and evaluate the bargaining power of customers. The...

Customer Relationship Measurement – Meaning, its need and importance

Customers are the most important part of business. There cannot be any business without them. Only satisfied customers will be...

Market Research and CRM

One of the best applications of Market research is in the area of customer relationship management. It helps an organization...

Stages in Market Research Process

The market research process involves a round of separate stages of data interpretation, organization and collection. These stages could be...

Desk Research – Methodology and Techniques

As depicted by name Desk Research is the research technique which is mainly acquired by sitting at a desk. Desk...

Data Analysis and Compilation

After gathering the information from desk and field research the raw data must be compiled so that the taxonomic analysis...

Report Preparation – Characteristics of a Good Report

The market research is normally outsourced to third party agencies by organizations and in turn they create a professional report...

Strategic CRM – Mainitain Long Term Relationship with Customers

The aim of strategic CRM is to concentrate and enhance the knowledge about customers and use this knowledge to improve...

Operational CRM

Operational CRM is mainly focused on automation, improvement and enhancement of business processes which are based on customer-facing or customer...

Analytical CRM – Meaning and its Key Features

Analytical CRM supports organizational back-office operations and analysis. It deals with all the operations and processes that do not directly...

Collaborative CRM – Meaning and Advantages

Collaborative CRM deals with synchronization and integration of customer interaction and channels of communications like phone, email, fax, web etc....

Customers Response and its Advantages

Customer response is the reaction by the organization to the queries and activities of the customer. Dealing with these queries...

Measuring Customer Response

After emphasizing on customer response and its advantages it is also important to know how to measure these responses and...

Medium of Customer Responses

The responses can be provided through any of the following media: Face to Face Interaction – Face to face interaction...

Qualities of a Good Response – What a response must provide ?

An organization should understand that response is the key towards creating quality relationship with customers and nurturing the future business...

Response in Consumer Sector

In consumer sector, suppliers most probably come in contact with distributors or middle-men rather than directly to customers. For them,...

Customer Acquisition – Meaning and its Process

Customer acquisition is the process of acquiring new customers for business or converting existing prospect into new customers. The importance...

Customer Life Cycle

If in an organization, many customers diverge their way to other organizations and customer acquisition program shows less aggressiveness then...

Customer Acquisition Cost

Customer acquisition cost is the cost which suppliers invest to acquire a new customer. This cost should be always less...

Measuring Acquisition Equity

Acquisition equity is the potential monetary value of acquisition for the organization. It provides the stage for customer equity data...

Customer Loyalty – Meaning and its Important Concepts

Every supplier wants to create and retain a loyal customer who engages in continued profitable business with him. Customer Loyalty...

Customer Loyalty and Satisfaction

Most of the organizations have murkiness in considering customer loyalty and satisfaction. They feel that both are same and a...

Drivers of Customer Loyalty

It is very important for an organization to identify the factors and facets which drive customer loyalty. These factors help...

Customer Loyalty Breakers

When customers end up his relationship with suppliers, he breaks the loyalty with him. Following are the reasons which are...

Tracking Customer Loyalty

For maintaining customers’ loyalty it is very important by organizations to track their loyalty. Following are the two methods of...

Increasing Customer Loyalty

It is necessarily required for an organization to interact and communicate with customers on a regular basis to increase customer...

Building Customer Loyalty Through Modern CRM Strategies

Customer loyalty is the foundation of sustained success for any supplier or retailer. A clear sign of a successful product...

What is Customer Satisfaction ?

Business always starts and closes with customers and hence the customers must be treated as the King of the market....

Why Dissatisfaction in Customers?

When the suppliers are unable to entertain customers or their business strategies fail to build a good relationship with customers,...

Measuring Customer Satisfaction

For improving customer satisfaction it is essential for the supplier to measure it. It is purely believed that if anything...

Methods of Measuring Customer Satisfaction

Managing customers’ satisfaction efficiently is one the biggest challenge an organization face. The tools or methods to measure customer satisfaction...

Factors affecting Customer Satisfaction

Customer satisfaction is the overall impression of customer about the supplier and the products and services delivered by the supplier....

Customer Retention – A Strategic Process to Retain Existing Customers

It is difficult to exactly define customer retention as it is a variable process. A basic definition could be ‘customer...

Customer Retention Strategy

Following are some of the important strategies that should be implemented for increasing customer retention: Changing Retention rates: There are...

Determinants of Customer Retention

According to the market evidences following are the main determinants of customer retention: Delivered quality of products and services versus...

Methods and Tools for Customer Retention

Following are some important methods and tools for customer retention: Data sources and databases for retention: An important aspect for...

Myths about Customer Retention

Customer retention is a crucial factor for organizational success in business. Many companies have misconceptions about customer retention in regard...

Practical Tips for Effectively Implementing Salesforce

Irrespective of whether you are in the commercial sector or the not-for-profit sector you need to effectively manage your customers...

Benefits of Cloud CRM for Small Businesses

CRM or Customer Relationship Management is a concept all businesses practice day in and day out. In fact, a business...

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Articles on Customer Relationship Management