Page 90 - DMGT308_CUSTOMER_RELATIONSHIP_MANAGEMENT

Unit 4: Customer Retention, Acquisition and Expectation

stage. Repeat problems will also give the opportunity to think about how to apply the technology Notes
to improve the processes, thereby leading to an entirely new way of working.

Customer Performance Measures

The presence of good, concise management reports describing all aspects of the customer base
can be invaluable in helping to refine the customer strategies and shape future precut services
and promotional activities. Such customer performance measures would typically describe the
size and value of key customer segments, profile, the behaviour and attitude of the segments,
and track how the value, behaviour and attitude is changing in response to CRM initiative.

Full Range of Technology

Rapidly advancing technology means e-structuring, ways in which how business is to be
conducted. New communications technology connects remote employees with the rest of the
enterprise; the internet deepens self-service options; telephone advances make virtual call centre
operations possible; call centres or website provide selling opportunities by marketing products
that are relevant to the individual. An effective CRM program makes technology a base to be
used in an iterative process that considers what technology can do for an organisation and vice
versa.

Assess Package Solutions

Given the importance of making the right CRM technology choices, sorting through the endless
applications on the market today can be intimidating and frustrating. Applications should be
sorted by the broad view of functionality including, communication channels and IT platforms
supported and size of company they fit the best. Consideration should also be given to vendor
viability in terms of financial stability and service and support capabilities. No single vendor
currently provides all the required applications, so users typically must patch together a set of
components to fit the overall solution requirement.

Skills and Organisational Implications

In implementing CRM capabilities, attention must be paid to addressing people, process ad
organisational issues as well as technological needs. For example, the analysis of customer
information, to achieve customer segmentation and target marketing initiatives are rarely
successful without the involvement of experienced statisticians who are trained to develop and
apply their skills whilst being driven by business requirements.

Proactive Leadership

At its best, CRM combines the information, systems, policies, processes, and employees of an
enterprise in a unified effort to identify, attract, and retain profitable customers. Clearly, no
single department can drive the cross-functional process changes required to achieve a well-
defined customer focus. CRM must be achievement within the fabric of a company, not bolted
on to it. This means that CRM initiatives must be planned at the top and implemented from the
boardroom.

Customer Involvement in Product/ Service Development

Companies are facing highly competitive situations, only constant innovation and development
of new products/services could guarantee a competitive advantage. However, as consumerism

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