Events and information management - CRM (Customer Relationship Management)

Résumé du document

Until very recently, businesses were more focused on selling as many products and services as possible, regardless of who was buying them.
Nowadays, competition is just a click away. Companies in difficulty realize that without customers, products do not sell and revenues do not materialize. They have been forced to become smarter in sales. Hence the need for Customer Relationship Management (CRM), which refers to the practices, strategies and technologies used by organizations to manage and analyze customer interactions and data throughout their life cycle, the quick development of the Internet and its related advancements has extraordinarily expanded the open doors for marketing and has changed the path connections among organizations and their customers are overseen ((1) Ngai, 2005). In the context of customer relationship management, with the aim of improving business relationships with customers, building loyalty, and stimulating sales growth.

Extraits

[...] Coupled with a strong community and a rewarded commitment, Sephora's customer relationship strategy is effective and relevant. III. Best practices and potential risks of CRM A. Best practices CRM system enables to create a strong link between the company and customers, it is tied in with teaming up with every client - having the capacity to make the great win-win circumstance: you enhance every client's day by day life, and they give you loyalty consequently Temporal, Trott, 2001), by better understanding the needs of customers, the organisation better frame the buying cycle and improve their services. [...]

[...] If none of these 3 things (culture, structure and process) are modified at the time of the implementation of a CRM, it is certain that this implementation will be a failure. For CRM to work properly and legitimately, it is necessary to consider both the necessities of the business and the requirements of clients. Sources Ngai, E.W.T. (2005). Customer relationship management research (1992-2002), Marketing. Available online at https://search.proquest.com/business/docview/1350307906/52362C5035944C13PQ/1 ?accountid=173454. Seen the 13/12/2018. Payne, A. and Frow, P. (2005), Strategic Framework for Customer Relationship Management", Journal of Marketing, Vol pp. 167-176. [...]

[...] Events and information management - CRM (Customer Relationship Management) Module Events and information management CRM Customer Relationship Management Until very recently, businesses were more focused on selling as many products and services as possible, regardless of who was buying them. Nowadays, competition is just a click away. Companies in difficulty realize that without customers, products do not sell and revenues do not materialize. They have been forced to become smarter in sales. Hence the need for Customer Relationship Management which refers to the practices, strategies and technologies used by organizations to manage and analyze customer interactions and data throughout their life cycle, the quick development of the Internet and its related advancements has extraordinarily expanded the open doors for marketing and has changed the path connections among organizations and their customers are overseen Ngai, 2005). [...]

[...] Example of Sephora Sephora managed to be a champion of the customer relationship. Their strategy is to get as close as possible to their customers to get to know them and federate them around their products. The company doesn't only sells beauty products to their customers, they also offer them community spaces where they can discuss and exchange advice. Thanks to these spaces, Sephora has managed to create a true committed community. Above all, it allows the brand to gather a lot of information about the users who complete their profile to participate in this community. [...]

[...] It guarantees that the information assembled by the clients is updated. B. Potential risks The implementation of CRM system is complex, unfortunately, a high level of customer relationship management strategy implementations comes up short on account of the presence of basic non-comprehension of the vital methodology here being referred to. (Hoots, 2004.) CRM updates require hours of development. It is also costly to execute and to keep up; CRM software has an astronomical cost because it provides unique features that no other "simple" alternatives bring. [...]