Literature review: Customer relationship management (CRM)

Résumé du document

Customer relationship management has been defined in many ways. Metagroep defines CRM as ‘the automation of horizontally integrated business processes involving front office customer contact points (marketing, sales, service and support) via multiple, interconnected delivery channels'. (Ed Peelen, p.3) According to the definition the usage of communication tools like internet and telephone enables to connect the customers in a much effective way. Another definition suggests that CRM is ‘a process that addresses all aspects of identifying customers, creating customer knowledge, building customer relationship, and shaping their perceptions of the organization and its products'.(Ed Peelen, p.4) This definition puts the process of getting to know the customers. One of the best definitions of CRM was given by Regis McKenna.

Extraits

[...] For satisfying clients and gain their trust, banks may have to selling with strong information exchange and commitment to long-term approach. To build up a good relationship with bank customers would include strong cross-selling elements, and banks may learns more from these about how to best add value for customers or relationship through their various services. Zineldin (1996) also suggested that, support services are used not to enhance the benefits of core of facilitating service, but to add value to the relationship and differentiate the bank's service offerings from other banks. [...]

[...] Clients will need information from banks for the interactions. Seal (1998) asserts that banks which actually implement relationship marketing recognize that detailed structure of the relationship can be analyzed in term of information requirements.' Relationship marketing is focus in a long-term relationship rather than a short-term and it have to considering on future outcomes more than present. Therefore, present customer satisfaction alone can not indicate the relationship quality, they should also consider about trust, commitment, growth of customer value, among others, as more appropriate, and also make the point that quality of relationship should include several dimensions rather than a single dimension (Stella, Mark, 2000). [...]

[...] To build up a good customer relationship, companies have to capture information at every possible touch point. These touch points include customer purchases, sales force contacts, service and support calls, website visits, satisfaction surveys, credit and payment interactions, market research studies every contact between the customer and the company. CRM consists of sophisticated software and analytical tools that integrate customer information from all of those sources, analyses it in depth, and apply the results to build stronger customer relationships. Philip, W Veronica, S John, A Gray, 2005) CRM analysts develop data warehouses and use sophisticated data mining techniques to unearth the riches hidden in customer data. [...]

[...] Literature review: Customer Relationship Management (CRM) Customer relationship management has been defined in many ways. Metagroep define CRM is automation of horizontally integrated business processes involving front office customer contact points (marketing, sales, service and support) via multiple, interconnected delivery channels'. (Ed Peelen, p.3) This definition think CRM have to using communication channels connect customers, such as Internet, telephone and face to face. Another definition suggests that CRM is a process that addresses all aspects of identifying customers, creating customer knowledge, building customer relationship, and shaping their perceptions of the organization and its products'.(Ed Peelen, p.4) This definition put process of get to know customers and gain customers into the more important position. [...]

[...] It is also not necessary to send the entire mailing all at once or to send the same pack to all of the addresses. The sender only has to take the preparation time into account that is necessary to design and produce the mailing. (Ed Peelen, 2005) To build up a successful CRM system in China is very different with other countries, even different between different areas of China. There are many special situation and different cultures in China. Banks should have very good relationship with their customers, and the banks in developed countries are all have their excellent CRM system. [...]