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Customer relationship management (CRM) is the practice of managing and analyzing customer interaction and data throughout customer life cycle to improve relationships with customers with the goal of improving customer retention and driving sales growth. CRM employs systems that can compile customer data from a range of communication channels such as website, telephone, email, chat, and social media etc. This facilitates businesses to learn more their target audience and cater to their needs. But one has to exercise caution in interpreting and using the data because an ill interpretation may defeat the very purpose of CRM. We provide you an opportunity to learn from experienced professionals by signing up for our service CRM assignment help.
How do customers benefit?
When a customer’s problems are studied and solutions are offered, a customer feels loved and grows trust in the company. CRM not only helps identify customer’s issues but benefits them in a number of ways. Some are mentioned below.
1. Improved customer services
2. Increased personalized service
3. Improved response to customer’s requirements
4. Improved customization of marketing
5. New products tailored to customer’s needs
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Dark side of CRM
CRM can lead to favoritism and differential treatment of customers. This may cause perception of unfairness among buyers and may opt out of the relationship with the brand. Some may spread negative information or engage in misbehavior that may hurt the firm and its image. A customer trusts a company when he or she believes that they are fairly treated. But when there is dissatisfaction among customers, sales growth is severely hampered. The goal of the company is to push sales but unfair practices lead to the contrary. CRM technologies are used by companies to add value to a customer and improve the bond with them so both of them benefit from the relationship. But the same technologies can become ineffective if they are not managed and implemented properly. With proper management, one can foresee problems such as differential treatment and correct one’s plan before implementation. There are times when problems are not realized till it is late. Even in such cases, if the process is continually managed, one can pull out of such situations early and take measures to re instill the faith that customers once had in the company. If you are curious to know how CRM leads to favoritism, contact us. We at CRM assignment help are always ready to help you.
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