The Importance of Customer Relationship Management (CRM) for Business Success

Let me start by giving a brief idea of what Customer Relationship Management means. CRM, or Customer Relationship Management, is a company-wide business strategy designed to reduce costs and increase profitability by solidifying customer loyalty.

True CRM brings together information from all data sources within an organization (and where appropriate, from outside the organization) to give one, holistic view of each customer. It's a strategy used to learn more about customers' needs and behaviors in order to develop stronger relationships with them.This allows customer facing employees in such areas as sales, customer support, and marketing to make quick yet informed decisions on everything from cross-selling (selling to an existing customer) and up-selling (selling something that is more profitable or otherwise preferable for the seller instead of, or in addition to, the original sale) opportunities to target marketing strategies to competitive positioning tactics. Once thought of as a type of software, CRM has evolved into a customer-centric philosophy that must infuse an entire organization. There are three key elements to a successful CRM initiative: people, process, and technology. The people throughout a company-from the CEO to each and every customer service representative need to buy in to and support CRM.  A company's business processes must be reengineered to support its CRM initiative, often from the view of, how can this process better serve the customer? Firms must select the right technology to drive these improved processes, provide the best data to the employees, and be easy enough to operate that users won't face problems.

If one of these three foundations is not sound, the entire CRM structure will crumble. Now that you have an idea what CRM is, I will move on to discuss the CRM of Makro. For this I had to meet up with the manager of customer relation at Makro’s head office located inside the shopping complex. The Manager was quite helpful and encouraging which I was not expecting honestly. I took 20 minutes of his time and discuss about the CRM his company managed. I started by asking what communication means to him and his company and according to him communication skills are important in every aspect of business. Information must be clear and accurate.

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In Customer Service, you must be able to explain company policies to customers and answer their questions about your products or services.These customers are not experts in your business, so you must be able to translate industry terms or technical information into layman's terms. Customer development and maintenance of relationships with customers is very important especially for a huge chain like Makro. Like businesses, Hypermarkets are also focusing on improving relationships with their customers and want to gain customer loyalty. Globalization and technological improvements have given Makro a tough competition where new competitors keep on emerging Metro being one of them currently.Makro is focusing on managing customer relationships in order to efficiently maximize revenues. For Makro marketing is not just limited to developing, delivering and selling, it is developing towards maintaining long term relationships with customers.

Relationship marketing is becoming more and more important in financial services . Managers really needs to look at areas where opportunities lie because industry consolidation, multiple delivery channels and online banking are making the customers leave one bank for another.Thus banks are increasingly using customer relationship management to develop long lasting relationships with their customers. Ensuring customer satisfaction is their main goal of any company. To achieve this goal customers especially HORECA are frequently contacted, and it is made sure that Makro staff and CRM department asks them about the problems they are facing and they try their level best to solve them. These methods increase customer convenience and satisfaction in the longer run and keeps on bringing the customers back.Makro offers its customer the following advantages, known as the ‘Makro Advantage’ which includes:

1. Competitive Prices
2. Quality Guaranteed,
3. Everything Under One Roof,
4. Air-conditioned and clean environment, Bulk Packing,
5. Detailed Sales Invoice,
6. 6. Extended Business Hours – 8:00 am to 12 Midnight,
7. 7. Open 7 days a Week including national holidays,
8. Vast and secure parking space,
9.  Convenient shopping environment for senior citizens and customers on wheelchairs,
10.  Makro Mail: a fortnightly price list with special promotions on a vast range of products

One main problem is the difference in price of one product and buying in bulk.

Buying in bulk is cheaper and most customers don’t understand that unless we explain it to them. So we have to continuously reinforce this idea in their minds. We also have to deal with unsatisfied customer if for example the product is faulty; we have to compensate them properly. A business this large cannot survive unless we have a large number of loyal customers.

Since they can easily break off and buy from our competitors. Competition is very fierce from other similar business.So we have designed some strategies to give us the competitive edge. Makro designs special promotions privileges for its customers to offer maximum benefits of price competitiveness and convenience. Enclosed is a copy of our promotional circular – the Makro Mail. This circular, published twice a month, offers Makro’s customers information on the best deals and new products available at its centers. Customers get this information delivered free of charge at their doorstep enabling them to make informed buying decisions for their businesses.

Customer satisfaction is the most important objective at Makro.Makro Gold Card is one way of showing our appreciation for your patronage and providing you with a more personalized service. Gold Card at Makro offers you the advantage of an annual bonus scheme which is an extra percentage off on your annual purchase at Makro. The extra bonus amount will be excluding tax, Makro Mail offers and already discounted articles. We also offer Purchase solutions for Employee Canteen / Cafeteria, Fair Price Shop, Office equipment ;amp; stationery, General office supplies: tea, coffee, drinks, tissues, cleaning items etc and Tools ;amp; maintenance requirements.A purchase solution is when we sell our commodities online. B2B If you are a business concern that buys its need in bulk, get in touch with our Customer Development Department, stationed at each Store for your options of payment.

Following non-cash options are available for purchases at all Makro Centres. Debit Card Debit card is the most convenient ;amp; safe payment option. For safety and security a separate account may be opened at Habib Metropolitan Ban or MCB, which will insure tha funds are available and controlled in a separate account for Makro purchase. Credit Card Makro accepts payment through credit cards with a bank charge of 1. 73% Advance on Credit Goods can be purchased against the exact amount deposited at Makro Centres. Bank Guarantee Credit is available against a bank guarantee provide by the customer to Makro Centres. Marketing The next main question was about marketing and how Makro conducts it: The CRM systems at Makro for marketing help the enterprise identify and target potential clients and generate leads for the sales team.

An important marketing capability is tracking and measuring multichannel campaigns, including email, social media, telephone and direct mail. Prospect Relationship Management (PRM) solutions which track customer behavior and nurture them from first contact to sale, often cutting out the active sales process altogether. Customer Service and Solutions Makro's Customer Development Department situated on the sales floor of every Makro Centre help customer with their question, queries and problem and offers them the right solutions. We have our own call center located in house.

Plus all Makro centers are equipped to help handicapped people move around and have accessibility for wheelchairs etc. keeping checks and balances on the cleanliness and maintenance of the branch: a nice, clean ambience makes an overall good experience for the customer. Feedback is very important for Makro said the manager, it helps in improving and enhancing the service we provide. Social media Social media has been a great help for many businesses.Same is the case for Makro. Social media sites like Twitter, LinkedIn and Facebook are amplifying the voice of people in the marketplace and are having profound and far-reaching effects on the ways in which people buy.

Increasingly, companies are looking to gain access to these conversations and take part in the dialogue. More than a few systems are now integrating to social networking sites. Social media promoters cite a number of business advantages, such as using online communities as a source of high-quality leads and a vehicle for crowd sourcing solutions to client-support problems. Companies can also leverage client stated habits and preferences to -target" their sales and marketing communications. Some analysts take the view that business-to-business marketers should proceed cautiously when weaving social media into their business processes. These observers recommend careful market research to determine if and where the phenomenon can provide measurable benefits for client interactions, sales and support. It is stated that people feel their interactions are peer-to-peer between them and their contacts, and resent company involvement, sometimes responding with negatives about that company.

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