Recitation Customer Relations Flashcards
may seem complex at first glance, but it’s really about how a business builds and enhances its relationships with customers.
CRM
what is the goal of CRM?
The goal of CRM is to increase the value a business provides to every customer. This goes beyond just making a sale or communicating face-to-face. It’s ingrained in every part of the organization, from its leadership structure to how it interacts with customers and the public.
focuses on creating a positive experience for customers throughout their journey with the business, aiming to build long-lasting relationships and enhance overall business growth.
CRM
the main goal is to keep customers happy and loyal. This involves strategies to maintain good relationships so customers continue to choose your products or services over competitors’.
Customer Retention
involves not only keeping existing customers happy but also attracting new loyal customers.
Customer Engagement
keeping current customers happy and attracting new ones. Businesses want new customers to be so pleased that they spread the word to others, helping the business grow.
Customer Engagement
is about recognizing that not all customers are beneficial for a business. Some customers can be disruptive, causing harm to employees or requiring a lot of attention without providing enough value in return.
Customer De-Selection
To create a relationship-based engagement with customers, it needs the following steps to start:
- Identify and Segment
- Studying Consumer Behavior
- Setting up a strategy
- Maintaining the relationship
Reason for Failure (7)
- Negligence
- False Advertising
- Wrong Pricing
- Lack of Marketing
- Discrimination
- Blaming Them
- not replying to customers
To put a method in the madness, there is a need to study the trends why
customers say no. (6)
- Relative Price
- Proximity
- Proactivity to customer needs
- Hard to Follow instructions
- Global Competition
- Cost
is about how customers view the value of a product compared to its cost. New customers care a lot about getting good value for what they pay. For existing customers, they already trust the brand, so price matters less. Businesses should set prices that match what customers think the product is worth. This way, customers feel satisfied with what they pay for.
Relative Price
refers to how close something is to customers. When it comes to businesses, customers often prefer stores that are nearby. This makes it easier for them to visit and feel confident about getting help or returning for more purchases.
Proximity
means being attentive and eager to help them. This is crucial in service and hospitality industries. By training staff and aligning with company values and goals, businesses ensure every employee is focused on putting customers first.
Proactive with customer needs
means that the business is offering too many services, options, and features that customers may not necessarily want or need.
Hard to follow instructions
means that because of free trade, there are more companies competing in markets worldwide. This gives customers more options to choose from.
Global Competition
