STUDENTS' CORNER - 180

The end of CRM is to create value for the customers and the company as well.

At present, all businesses have understood the importance of the customers and they place the customers at the top slot in the business efforts. Experts have come out with many strategies to win over the customers.

The Customer Relationship Management strategy must focus on achieving the goal of the company. Lots of deliberations must have gone into while arriving at the goals of the company. Various surveys at different levels of marketing dynamics and their analysis by experts and the consolidation of their findings—all these weighted activities precede formation of the goals. Now, it is the sole responsibility of the company that it keeps all its employees informed of the goals of the company and the plan of action that has been evolved with care and caution. Here lies the crucial task of the management; with thought-out efforts and means, the company must win the employees in such a way that the employees feel the goals of the company are their goals too; that is, the goals of the company must end up being internalized by the employees. This enables the employees to give their best to the company rather immediately since they feel it is their responsibility to work along the lines shown by the management. Mutual confidence makes working conditions smooth and effective.

Losing a customer is almost equivalent to losing business, losing market. The company must not lose sight of customers at any point of time so that it knows everything about the customer. Your CRM personnel must throw surprise to the customers by making them know that you are aware of what they share and what they say in local social media channels. This will strengthen the impression that the company has placed the customers on the forefront of the business; this strategy will go a long way in retaining the customers with the company. There is a great possibility that in the social media the customers do express their choices, their ideas about your products, about your rivals’ products. This knowledge will guide you in framing your business policies, your business expansion plans.

Monitor your CRM personnel in such a way that they keep updating themselves in almost all the areas of public interest along with your business proposition. All these go to underscore the supreme significance of the customers.

We will see some best practices in logistics and supply chain management.