Customer Relationship Management (CRM) – Purpose, Functions, Benefits

Every businessman surely wants his company to grow and develop properly. Therefore, it needs the right strategy to achieve it. One of them is customer relationship management (CRM).

To achieve maximum results, you can use CRM wisely in the company. How to? Let’s find out!

Overview of CRM or Customer Relationship Management

Let’s first learn about customer relationship management (CRM). A strategy implemented by a company to process data with applications to achieve business success.

As the name suggests, this strategy prioritizes relationships with customers as a step toward developing the business. A company will follow different ways to strengthen relationships with consumers.

The application of the CRM concept can be found in different industries. Moreover, the implementation is done in different phases. Every company gets a significant advantage.

Now Customer Relationship Management (CRM) can be done with one tool. Technological sophistication led to e-CRM tools such as omnichannel CRM applications that are used with various devices.

By using e-CRM, you can increase customer satisfaction. This tool can be used on a computer or even a cell phone.

Customer Relationship Management Goals and Functions

The presence of the concept of customer relationship management is one of the things that a company must pay attention to. This concept is present and cannot be separated from the goal to be addressed. The goal is:

  • Increase business profits through businesses built between businesses and consumers.
  • Help gather consumer data information on up-cross selling.
  • Improve business services that are more satisfying through integrated information support.
  • Help present a consistent process for responding to consumer inquiries.

The functions of Customer Relationship Management (CRM) are none other than the following:

  • Customer focus, namely the application of a philosophy that makes consumers a reference.
  • Conduct a thorough identification of consumer needs.
  • Create services that are more satisfactory to consumers.
  • Measure the company’s progress from the consumer’s point of view.
  • Offer full support to all consumers.
  • Overcome any complaint that comes from consumers.
  • Capture various related sales aspects.

Benefits of Customer Relationship Management (CRM)

By implementing the concept of Customer Relationship Management (CRM), you get pretty good benefits for the business. The benefits are:

1. Maximizing The Company’s Relationship With Consumers

  • A company will have a close relationship with its customers.
  • Through this close relationship, the company embraces the consumers so that it is possible to become repeat customers.
  • Both businesses and consumers benefit. A strong relationship will make it easier for companies to make offers.
  • Another case is for consumers to achieve more satisfaction with the company’s services. This will certainly leave a distinct impression on consumers.

2. Improve Business Financing

Another advantage is that it has a great impact on the company’s finances. The CRM concept is a strategy that many companies implement to generate more sales.

CRM helps companies to make design and marketing easy. In addition, this will optimize costs and time. As a result, the company will make more profit.

3. Creating Brand Loyalty

In addition, Customer Relationship Management will help companies to present brand loyalty full of innovations. Customer feedback is the most important measure for the company to build an appropriate brand.

Interactions with consumers are one of the most important contributions to the company, such as the existence of a loyalty program. A loyalty that makes consumers not choose another brand is called brand loyalty.

4. Improving The Efficiency of Work Processes

Customer Relationship Management (CRM) can provide benefits in the form of work efficiency. Various tasks in a department can be completed more easily.

The application of the CRM concept will help various departments. For example, the marketing department will easily convey information to consumers according to existing preferences. Like an accountant getting SME accounting applications for small and medium businesses. These tools can improve your productivity and business operations.

When every department is supported, the work becomes easier. In addition, the CRM concept helps to maintain the performance of each employee.

5. Customer Relationship Management Components

Customer Relationship Management (CRM) consists of several important components. CRM cannot be separated from the following components:

a. Customers

First, there is an important component that is none other than the consumer. Consumers, as we know, are part of the community that uses the services of a company.

Consumers are very closely involved in the concept of CRM. In this case, consumers are involved in various related matters, such as purchase transactions and so on.

b. Relationships

Another component of CRM is relationship relationships. In this case, the relationship in question is the fabric that is built between the company and the consumer.

CRM is implemented with two-way communication. Existing communication is not only related to the offering company. However, there is consumer involvement.

c. Management

In addition, CRM is also inseparable from the management component. Companies must be able to maintain good relationships with consumers.

The close relationship that is established is long-term in nature. This is expected to develop the company over a longer period.

How to Implement Customer Relationship Management in a Company?

The concept of Customer Relationship Management (CRM) can be done by following certain stages. The stages in question are:

1. Acquisition

Companies must be able to attract the interest of consumers. As you know, the presence of consumers is an important aspect that can determine the future of a company.

Consumer involvement in a company is one of the conditions for the survival of the company. Its nature is naturally very long-term.

A company’s reputation must be well maintained. Armed with a good reputation, the potential to attract the right consumers increases.

2. Improvement

Next, increase the value to consumers. This is done by using two important methods. The method in question is up-selling and also cross-selling.

Both methods will help companies increase profits. Consumer value will increase according to the goals to be achieved through CRM.

3. Retention

Retention is a way to retain consumers. In this way, consumers can remain loyal to the use of the services and products offered by the company.

This method must be done as accurately as possible. In addition to retaining old customers, you must also be able to attract the attention of new consumers.

Generally, this step is done by listening to consumer feedback. Companies must be able to respond positively to any consumer reaction.

Is it Important to Implement CRM in a Company?

If it has benefits to achieve, CRM is very important for a company. Therefore, as many companies as possible can properly use the concept of customer relationship management (CRM).

In addition to getting feedback from consumers, companies can also make relevant evaluations. This will be one of the steps to developing the business.

No wonder many companies use CRM as the right strategy to achieve higher profits. Therefore, the implementation of CRM is very important for companies.

So, this is information related to Customer Relationship Management (CRM) that you can understand. The above information can be a determination to start a growing business.

Tinggalkan komentar