Customer Relationship Management

Kaj Storbacka


In Circulation

To develop the long-term relationships necessary to survive the intense global competition of the modern era, businesses must strive to meet customers needs as never before. This book is a result of an extensive research project that studied new ideas in marketing, and how these strategies are being applied throughout the US and Europe. The case studies provided demonstrate the ability of effective CRM programmes to refine customer relationships and increase their value.

What will you learn from this book

  1. Customer-Centric Focus: Successful CRM strategies emphasize a customer-centric approach, putting the customer at the center of all business activities. Understanding and meeting customer needs and preferences are critical for building lasting relationships.

  2. Data-Driven Decision-Making: CRM involves leveraging customer data to make informed business decisions. Effective use of data analytics and customer insights can enhance the overall customer experience and drive business success.

  3. Personalization and Customization: Tailoring products, services, and communication to individual customer preferences fosters a sense of personalization. CRM systems help businesses understand and respond to the unique needs of each customer.

  4. Integrated Communication Channels: A holistic CRM strategy integrates communication channels to ensure consistency and coherence in customer interactions. This includes seamless experiences across online and offline platforms.

  5. Employee Involvement: Employees play a crucial role in delivering excellent customer experiences. A successful CRM approach involves training and involving employees to understand and engage effectively with customers.

  6. Lifecycle Management: CRM extends beyond initial customer acquisition to encompass the entire customer lifecycle. Managing relationships from awareness and acquisition to retention and loyalty is a key aspect of successful CRM.

  7. Technology Enablement: CRM systems and technology play a vital role in managing customer relationships efficiently. This includes the use of CRM software, automation, and other technologies to streamline processes and enhance customer interactions.

  8. Feedback and Continuous Improvement: Regularly seeking feedback from customers and using it to improve products, services, and overall customer satisfaction is integral to CRM. It involves a continuous feedback loop to adapt and evolve based on customer input.

  9. Measuring Customer Value: Effective CRM involves assessing the lifetime value of customers. Understanding how valuable individual customers are to the business helps in prioritizing efforts and resources toward high-value relationships.

  10. Ethical Considerations: Building trust is a critical component of successful CRM. Companies need to consider ethical implications and ensure that customer data is handled responsibly and transparently.

Language English
ISBN-10 0071188614
ISBN-13 9780071188616
No of pages 176
Font Size Medium
Book Publisher Mcgraw Hill
Published Date 16 Dec 2001

About Author

Author : Kaj Storbacka


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