How To Build Customer Loyalty Using Customer Relationship Management (CRM)

The Customer Relationship Management, or CRM, is the surest way to succeed in creating customer loyalty, according to a 1999 study by Deloitte & Touche and Deloitte Consulting, which conducted interviews with 900 executives in 35 countries.

The CRM, or Customer Relationship Management, implies a continuous journey, not a destination. It is a journey toward a customer-centric company. Building a successful CRM approach will happen in stages, not overnight. One must understand that CRM revolves around continuous improvement, in which we analyze and resolve customer needs and expectations, in order to ensure their satisfaction and continued growth of your business. The CRM system offers new opportunities and challenges for the company that implements it all the time.

The technological tools are important components of effective programs to develop CRM (Customer Relationship Management). The ability to share information effectively between the contact points is essential, and now the technology allows it. The huge array of existing tools can give sales force, call center services, management and potentially to all staff, the same customer information, as well as improving the ability to capture new information. There are numerous alternatives in the market, some of which I pass to detail.

CRM Applications

Some vendors offer software solutions where the CRM process is already integrated. The company parametrizes the software to meet your specific needs. These solutions have several advantages, as they provide the business functions without requiring additional programming.

The cost of its implementation depends on the level of parametrization required by the company beyond the basic package. The more customization, the more expensive design and implementation will be, as well as increased maintenance costs and upgrading the software.

Audioanswer Systems

This technology offers important labor savings by eliminating or reducing manual handling of incoming calls. The implementation of a simple audioanswer solution in a call center can eliminate labor costs by up to 50% of all customer calls. It has achieved significant success in calls for consultation, such as billing, credit and other basic information.

Although is not very common that complex transaction processing is completed through audioanswer there are several success stories in the financial sector. Also, the systems add value by collecting audioanswer critical information from customers, which can be used in combination with telephony and computer integration, this in order to increase the quality of care and reduce labor costs by reducing call time.

Computer Telephone Integration

Computer Telephone Integration, or CTI, is a component which allows to directly address customer needs with a focus on CRM. The CTI links the clients data to the application of database software, providing immediately personalized information to the agent serving the customer, thus reducing costs and improving the attention of calls.

The telecommunications network identifies the customer by phone number they are calling from, or by capturing the customer's personal code. Once the customer has been identified, the computer extracts information from existing databases to be presented on the monitor of the agent who answers the call. This tool is critical for the agent because it allows them to quickly access historical transactions and real-time customer information and thus meet their needs in a personalized way.

The information thus obtained can be linked to campaigns to customers that are automatically displayed on the monitor of the agent in order to upgrade or cross sales of products and services based on individual preferences. An example would be when a client asks for a new product or service, such as a cell phone, and the agent who answers the call received at the same time on their monitor, additional information on a promotion for the product requested, which may be, for example, reduced costs in long distance calls.

Challenges and limitations

The CRM is a critical requirement for all companies which are able to compete in the future. However, when implementing CRM solutions, it must be remembered to evaluate current processes and redesign strategies for interacting with customers based on the evolution of customer care and CRM requirements.

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About the Blog Author: Timpa has the mission of providing all entrepreneurs, whether experiencied or not in online business strategies, with the right information to help them manage their businesses online in the best, most time-effective and cost-effective, smarter way.