CUSTOMER RELATIONSHIP MANAGEMENT - THE WINNING STRATEGY

Customer expectations keep changing. And keeping track of such changes has become more challeng­ ing than before. CRM best defined as a set of processes that continuously listen and extract knowledge about customers, enhancing companies understanding of their needs, expectations and behaviours, thus enabling the companies to dynamically respond to new opportunities and changes. Just toll free numbers don't suffice any more. To keeptrack of such changes companies establish relationship with customers to serve them better and also to get the wind of the changing scenario. Such relationships are becoming more complex and multi­ farious as technology evolves, as competition heightens, as customers' expectation changes, etc. CRM comprises the practices methods and control systems that enable improvement in both effort and cost associated with acquiring, maintaining and creating loyal, happy, paying customers. CRM is now at the forefront of the company agendas. It is a fundamental, critical component for planning and deployment of strategic applications such as supply chain management and electronic commerce. Many companies do not model and classify various customer market segments when developing a sell-side web site. As the thing moves on the question is how to make one company proactive to and adopt practices for others to follow. CRM means different things different companies ranging from database marketing to overall customer care programs. As the CRM system vendors also try all-out strategy's to succeed. In the crowded market the following may edge the company to sustain their market. The common goal of CRM is to acquire and retain profitable and loyal customers. Several critic•al issues impede organizations from executing effective CRM strategies. CIP (Customer interaction process) are pro- cess designed to attract customers (marketing, advertising promotions and so on) interact with customers (infonn, educate, offer decision support, negotiate and so on) and ensure customer satisfaction (fulfillment, support, maintenance and so on). Companies should create a continuous CIP reviews practices made-up of high-level management representatives from all lin s of business or departments that have direct customer interactions.