This video talks about all that you need to know about the evolution of customer relationship management.

https://www.youtube.com/watch?v=CNZZ9Q5BWFw

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Creating Customer Loyalty: How To Handle Your Loyal Customers.

 

 

When an organisation wishes to build a loyal customer base, it must be intentional, consistent and different.

They must be ready to add value to their customers. They must be able to serve their customers in such a way that serving customers in a unique way becomes an engine for growth in the organisation.

 

 

An organisation that wishes to build a loyal customer base must be able to identify its profitable customers.

 

They must be able to do things differently. Not only that, they must be able to offer services in such a way that they leave a lasting impression in the mind of their customers.

 

 

If customer loyalty is based on customer behaviour, it will more be effective in making customers more loyal and satisfying their needs. 

 

It will also turn loyal customers into advocates who advertise your products and services without your paying a dime.

 

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Today’s customers are in control of their experience.

 

This means businesses must be ready to meet them wherever they happen to be in their journey and help guide them along the path toward conversion and loyalty.

 

One of the best ways to do this is by mapping out your customer’s journey using the buyer’s funnel model, which categorizes your customers according to where they are on their journey.

 

 

The buyer’s funnel model involves five stages of buyer behaviour: awareness, interest, evaluation, purchase and repeats purchase/loyalty.

 

 

What is a Customer Journey Stage?

A customer journey stage is a way of thinking about how customers experience your brand. It may not be linear, but there are five main stages that all customers will go through as they interact with your brand.

 

The Five Customer Journey Stages are Awareness, Consideration, Purchase, Usage and Advocacy. Each stage has its own set of questions you can answer to better understand how well you’re meeting their needs in that stage.

 

For example, if you ask What does this company do? or What are my options? at the awareness stage then you’ll have people tell you what they know about your company or what other products might interest them. If you ask those same questions at consideration then people will be able to say why they’re considering one product over another and which features matter most to them.

 

Defining the Stages

There are five stages in the customer journey, which are discovery, evaluation, purchase, service and advocacy. These stages happen in a sequence but can overlap in some cases.

The first stage is discovery; this is when customers are looking for a solution. They may not be aware of what they want or where to find it.

The second stage is evaluation; this is when customers are deciding on what solution they want based on different factors such as price and quality.

 

 

The third stage is purchase; during this time, customers have made their decision about what product or service they will buy.

The fourth stage is service; during this time, the customer has already purchased their product and will contact you for help with questions about installation or support.

The fifth and final stage is advocacy; during this time, customers are telling others about their experience with your company through word-of-mouth marketing or social media channels.

 

The Importance of Defining Your Visitor Personas

Defining your visitor personas is one of the most important steps in your journey. Personas can help you craft a better customer experience by understanding who your visitors are and what they want.

 

Understanding the stages of your customers’ journeys will also help you determine how best to communicate with them during each stage. For example, someone who is just learning about your product may not be ready for sales or advertising but would enjoy reading blog posts and social media posts that provide helpful information.

 

The Importance of Visitor Intent

Visitor intent is a key component of customer journey mapping. When customers come to your site, they are in one of four phases: exploration, decision-making, purchase or post-purchase. These phases can be mapped out on a basic customer journey map that starts with visitor intent at the top left corner and ends with conversion at the bottom right. At every stage, there are specific questions you want to answer about how well you’re meeting their needs.

 

For example, during exploration when visitors are still trying to determine if they need your service or product, what information should you provide them? What kind of experiences should you create for them? Similarly, during post-purchase when people have just bought something from your company what is important then? What’s going through their mind? What do they need now?

 

Key Takeaways

– The customer journey is a process that customers go through when interacting with your company. It consists of four stages: Awareness, Consideration, Purchase, and Loyalty.
– To map your customer journey, you must first identify the starting point for each stage in order to identify where you are today. -You need to know what your goal is for each stage in order to determine how you will measure success.

– Once you have identified your starting point, it’s time to get started! Map out where your customers currently are at each stage, as well as any strategies or initiatives you have put in place to improve the customer experience.

 

If there isn’t anything in place currently, take some time to brainstorm ideas on how to improve the situation before implementing them. Remember that all strategies should be grounded in data-driven insights from focus groups or surveys so they can be made as effective as possible.

Understanding Brand Promise In CRM

 

 

This heading is self-explanatory enough. The brand promise is just what customers should expect from your product. It is what customers expect your product to do for them.

 

It should be stated from the onset that, what you expect your product to do will determine how you invest in your employees, your business, your product, technology and delivery channels.

 

Therefore, brand promise lies at the core of the customer strategy.

 

Loyalty depends on how the customers view your brand and other organisations that produce the same goods and services that you are producing.

 

Customers are loyal to you because they believe that, that is the best decision to make at any given time.

 

They might likely consider what it will cost them to switch over to a competitor such as time, effort, money or all three.

 

This is telling us that if you want your customers to remain loyal to your organisation, you must go the extra mile.

 

Do more than your competitors will do for them. It has been observed that when an organization does more than its competitors will do, its customers will remain loyal until one of the competitors raise the bar.

 

That is why a customer-centric enterprise must have a consistent customer relationship strategy. With time, loyalty becomes an attitude.

 

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The customer finds it very difficult to shift to another brand. He will also gladly accept the higher price which might be perceived as higher value by the customer.

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Action Point

PS: I know you might agree with some of the points that I have raised in this article. You might not agree with some of the issues raised. Let me know your views about the topic discussed. We will appreciate it if you could drop your comment. Thanks in anticipation.

CRMNuggets is committed to fact-checking in a fair, transparent and non-partisan manner. Therefore, if you’ve found an error in any of our reports, be it factual, editorial, or an outdated post, please contact us to tell us about it.

 

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How to Create Customer Loyalty

 

 

When an organisation wishes to build a loyal customer base, it must be intentional, consistent and different.

They must be ready to add value to their customers. They must be able to serve their customers in such a way that serving customers in a unique way becomes an engine for growth in the organisation.

 

 

An organisation that wishes to build a loyal customer base must be able to identify its profitable customers.

 

They must be able to do things differently. Not only that, they must be able to offer services in such a way that they leave a lasting impression in the mind of their customers.

 

 

If customer loyalty is based on customer behaviour, it will more be effective in making customers more loyal and satisfying their needs. 

 

It will also turn loyal customers into advocates who advertise your products and services without your paying a dime.

 

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Action Point

PS: I know you might agree with some of the points that I have raised in this article. You might not agree with some of the issues raised. Let me know your views about the topic discussed. We will appreciate it if you could drop your comment. Thanks in anticipation.

CRMNuggets is committed to fact-checking in a fair, transparent and non-partisan manner. Therefore, if you’ve found an error in any of our reports, be it factual, editorial, or an outdated post, please contact us to tell us about it.

 

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Importance of Customer Loyalty

 

Customer loyalty helps businesses to retain lower costs, higher-margin and greater profits than businesses that fail to satisfy and retain their customers.

 

What we are saying here is that, if an organization has loyal customers, they will spend less on adverts or other drives that are aimed at attracting new prospects into the organization.

 

That is why it is said that loyal customers are the principal drivers of profit.

 

 

In any organization that is customer-centred, the main reason why they have decided to tow that line is to retain their customers Research shows that the cost of acquiring a customer is almost five times that of retaining them.

 

Heavy advertisers confirm this too. Loyal customers continue to purchase your products and services.

 

As they grow with your organization, their value increases as they also introduce new businesses to your organization.

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Action Point

PS: I know you might agree with some of the points that I have raised in this article. You might not agree with some of the issues raised. Let me know your views about the topic discussed. We will appreciate it if you could drop your comment. Thanks in anticipation.

CRMNuggets is committed to fact-checking in a fair, transparent and non-partisan manner. Therefore, if you’ve found an error in any of our reports, be it factual, editorial, or an outdated post, please contact us to tell us about it.

 

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 Components of Customer Loyalty: What You Never Knew About Your Returning Customers 

 

 

We have two basic components of customer loyalty, Perceptual and transactional components.

 

The perceptual component is loyalty which is based on perception. This happens when customers become based on their attitudes, opinions and emotions.

It happens when customers feel fined after they have used a particular product. It has to do with how much the organization is able to meet the customers’ pre-purchase expectations.

 

For example, a customer bought Mercury soap or cream because he wanted to tone his body.

 

 

The transactional measurement of loyalty has much to do with customers’ intentional or tangible purchase behaviour, such as the inclination towards making a repeat purchase.

 

Some just like to make a repeat purchase, not necessarily because the product satisfied their needs.

 

 

A customer might decide to stick to an organisation because of the stress involved in searching for another product that will do just the same thing.

 

This might be attributed to search costs, transaction costs, learning costs and other forms of risk associated with switching to a competitor.

It has been observed that a good Customer-Centric Enterprise must involve people, processes, and technology.

 

This must be centred around the customer. It is on this premise that we can discuss the transition from a product-centric to a customer-centric enterprise.
 
When we talk about processes, we are talking about referring to the activities involved in the running of the business. It involves all activities that go on in the Marketing, Sales and Customer service department of any organisation.
 
The process talks about the specific employees that are involved in the running of the organisation. In a customer-centric organisation, they must be trained to see the customers as part of the stakeholders of the organisation.
 
The relationship has to do with the way the organisation goes about building and nurturing relationships with its customers. This must be done in order to build confidence in the customers.
 

Transition: Processes: In a product-centric enterprise, the adverts are targeted at a large number of people. The organizations in product-centric enterprises at times come up with promotional offers in order to attract a large number of people while in CCEs, the advertisement and marketing strategies are personalized and they are on a one-on-one basis
 
Sales: In a product-centric enterprise, sales are geared towards making as many sales as possible while in CCEs, sales are more centred on customer needs than product strengths. Employees are not rewarded based on the volume of their sales but on how far they are able to meet customers’ needs.

 

Also in the new setting, customer feedback has a strong influence in the forecasting process as opposed to the product-centric enterprise.
 
Service and Support: In the old setting, the customers are forced to come to the branch offices before their issues can be resolved while in CCEs, there is the establishment of multi-channel customer care with the intention of enhancing customer experience. There is also the development of feedback mechanisms which are meant to measure how far the organization is able to resolve customer issues.
 

Transition: People

 
Organisation: In a product-centric enterprise, the entire workforce and management are meant to think in terms of produce and production process. They are more with how they can increase their production and market share in general. On the other hand; in a CCE, the whole organisation’s workforce arc programmed to think along the customer line. Lbs involve how the;’ cm satisfies their customers and operates from their perspective.
 

Human Resources Management

In a Product-centric enterprise, employees are rewarded based on how far they can increase production in their organization. They are also trained to put in all their best in increasing production but in a customer-centric enterprise, the employees are trained to think along the line of customer satisfaction. The organisation is concerned with turning out executives that are customer focused in nature.
 

Transition: Technology

Infrastructure: Under infrastructure, when an organisation becomes customer-focused, its infrastructures become inadequate. This is due to the fact that customers want to interact with the organisation from multiple channels. Therefore the organisation needs to put machinery in place that will enable the customers to interact with the organisation at their own convenience.
 
Applications: In a product-centric enterprise, customers’ information is not integrated into the applications as they were chilled away from the customers. But in a GCE, the various departments in the organisation are provided with customers’ information which allows them to attend to customer issues promptly
 

SUMMARY

In this chapter, we have discovered that:
 

• People, processes and technology are always involved in the running of any enterprise.
• In a product-centric enterprise, all attention is focused on the product, how the organization can increase its sales volume as little attention is focused on the customers.
• In a CCE, the entire workforce and everything involved in the organisation is centred on the customers, Even the policy framework of the entire organisation is centred on customers and customers alone.

 

Brainstorming Session

1. Discuss the processes that are involved when a Product-Centric Enterprise is moving to a Customer-Centric Enterprise.
2. How can an organisation moving from PCI to CCE prepare its workforce for the change that is about to take place?
3. Do you agree that change management is necessary for a CRM project?

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Customer Scoring and Scoring Methods : How To Identify Wealthy Customers (With Examples).

 

Customer scoring is one of the means of developing a customer model. It aims at scoring the customers based on certain parameters on a regular basis instead of developing a specific model for each requirement.

 

 

 

Developing this kind of scoring method will enable the organisation to assign multiple product/service scores plus lifetime value, making it useful across multiple requirement areas such as campaign management, and marketing departmental plans among others.

 

 

One of the widely accepted methods of scoring is the RFM method. It captures the Recency Frequency and Monetary behaviour of customers.

 

Customers that have bought recently, frequently and have spent the most money will be ranked as the most economically viable customer with regards to products/service offerings.

 

 

Note: RFM is closely related to another scoring method called lifetime value.

 

 

Introducing Customer Lifetime Value
Customer Lifetime Value (CLV) is the expected net profit a customer will contribute to your business as long as the customer remains a customer.

 

This also shows how profitable the organisation will be in the future.

 

 
Role of Technology
When an organisation needs to deploy a model that will be reliable and dependable in meeting customers’ needs, in achieving this, there is the need for the organization to bring about a model that will automate and manage the whole process.

 

 

In deploying technology, organisations need to deploy the kind of technology that would manage the customer database.

 

We also need to introduce analytical tools such as data mining; this digs in into the customer’s database in order to bring out reliable information that can be used in order to increase customer experience.

 

 

We also need statistical tools such as predictive modellers which can suggest to organisations products and service that they can introduce to their customers.

 

These are always done based on the need of customers and information at the disposal of the organization about their customers.

 

 

A customer-centric organisation needs to check the effectiveness of its customer model regularly. This will help the organisation to make necessary changes when necessary.

 

There is a need for this because customers are very dynamic in nature. It changes very fast, the organisation must have a challenger model that will continue to test the effectiveness and relevance of the model being adopted by the organization on a regular basis.

 

 

It should be noted that understanding the customer and the type of relationship customers wish to have is the key to a good CRM initiative.

 

Here, we are saying that if you understand the customers and the type of relationship that they keep, you will know the best type of products and services to introduce to them.

 

At times you might have a customer that does not take your organisation as the main organisation. If you don’t dig in enough, you may not know their worth.

 

 

It has been said before that, some organisations don’t know the number of subscribers that they have. Some don’t know who is actually responsible for the settlement of the bills or how many of their product, a customer has.

 

If they don’t know all this, how would they come up with products and services that would meet their needs?

 

 

There is a need for market research and knowledge management coupled with a concise effort to dig up more information about customers, which will allow the organisation to have more knowledge about customers.

 

If all these are done on a regular basis, it will enable the organisation to adapt to market changes and to anticipate and cater to specific needs and wants of individual customers, thereby consolidating customer loyalty.

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Managing Customer Life Cycle: Stop Loosing Customers To Competitors

 

 

In doing this, the organization employs customer-centric strategies in order to retain and grow its customer base.  They also try to put the customers at the heart of everything that they are doing.

 

One thing you should note here is that what keeps the relationship going is the trust that the customer has in the organisation.

 

Once the organisation is able to retain the trust by giving the customer a consistently positive experience, the customer in return will continue to be Loyal to the organisation.

 

The organization providing a consistently positive experience may have to break protocols in order to give their customers a wow experience.

 
The organisation is giving its customers a consistent experience try to give their customers the ability to dictate the pace of their relationship.

 

This is achieved through the provision of touchpoints which allow customers to choose channels through which they want to relate with the organization.

 

 

One thing is that organizations should not be oblivious to any minute changes going on in their Life Cycle if they are bound to face attrition.

 

They must be able to come up with innovative products and services that will meet customers’ demands.

 

This should be done in order to drive and attract more customers to their Life Cycle and raise the exit barrier.

 

 

SUMMARY

• The customer Life Cycle is a process that a customer or a prospect goes through before particular goods or services are purchased.

 

• It is aimed at making sure that customers are not lost to competitors at any stage of the Customer Life Cycle.
• Customers can be lost at any stage of the Life Cycle.
• It is better to lose a prospect than to lose a customer.
• The loss of a prospect is called “loss” while the loss of hard-earned customers is called “attrition”.

Brainstorming Session

1. Discuss the essential tips that an organisation need to know about a prospect entering their lifecycle.
2. Differentiate between “loss” and “attrition”.
3. What is Customer Lifecycle Management? What are some of its relevance?

Customer’s Perspective of CCEs: Winning Secrets For Lead Conversion.

 

 

When we were discussing brand promise, we said there are some things that your customers expect from your organization.

 

If you are able to meet or exceed these expectations, then you can be truly called a customer-centric enterprise.

 

The customers expect the organisation to be honest, and open, and respect the interests of their customers.

 

They also want an organisation that places a high premium on integrity The customers also want fair value at a fair price.

 

 

The organisation is also expected to provide the emotional support necessary to sustain and grow a relationship which could imply putting customers’ needs and long-term relationships before personal short-term gain.

 

 
The customer also wants a consistent experience from the organisation that they are dealing with.

 

In order to provide a consistent experience, you must have a well-trained and knowledgeable workforce that believes that the customer is their priority, not those that treat customers like animals or beggars.

 

This involves making your employees accountable for every customer that is put in their care.

 

 

The organisation on the other hand needs to understand customers and their nature.

 

They should understand their present value and future state. They also have to understand that customers deserve preferential treatment more than others.

 

 

A CCE has a customer strategy that projects worthy brand promise, supported by superior products and services.

 

The organization tries to promote these quality products and services through designed marketing plans.

 

These are aimed at targeted customers through well-planned customer profiling and segmentation.

 

 

There is also the need for the organization to have a closed-loop feedback reporting system.

 

This is to make sure that the enterprise constantly meets its customer’s expectations in terms of service quality and customer experiences.

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One of the unique features of Customer-Centric Enterprise (CCE) is that they address all customer issues fully and resolve them completely.

 

What we are saying here is that a CCE will never treat a customer(s) complaints with kids’ gloves. They will always ensure that their customers are happy.

 

This is to prevent their customers from joining the competitor’s Life Cycle.

 

 

Also, CCE employees are empowered with authority and tools to resolve customer issues completely in a customer-centric organisation; customer-facing employees do not have to wait for their bosses before they can attend to customers’ complaints.

 

The customer database is made available to all the employees so that they can attend to any challenges being faced by their customers.

 

 

Above all, a customer-centric enterprise allows, its customers to interact with the organisation across multiple channels.

 

Customers have the independence of deciding the wag in which they wish to relate with the organisation.

 

Some might decide to walk in into any of the branch offices while some conduct their transaction online.

 

 

The hallmark of a CCE is that they stay with their customers all through. Their main driving force is not profit as it may not be forthcoming at the onset but the organization maintains its relationship with the customers through thick and thin.

 

We can say that a CCE is a company that focuses on customer satisfaction and places the customer at the centre of the company’s existence.

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In the business world, a business can focus on any of the three areas available in the business world.

 

These are customers, products or channels. In the developed world, more organisations are now focusing on customers because businesses are now becoming more customer-focused because businesses are now becoming more customers driven.

 

This has been making organizations become more focused on customers as they can not afford to be left behind.

 

 

Here, we want to juxtapose customer-centric enterprises and product-centric enterprises in order to see their focus and their mode of operation.

 

 

In a product-centric enterprise, its focus is to increase its market share and control a large percentage of the market.

 

Employees in such organisations are not rewarded based on the number of new customers that they introduced but based on the volume of sales they are able to make.

 

This organisation view failure or progress in terms of its volume of sales in a particular year under review.

 

 

In a customer-centric enterprise on the other hand, less emphasis is placed on product as the organisation is more concerned about acquiring new customers and raising the exit barrier for their existing customers.

 

They always try to find avenues of increasing their customers’ experience so as to prevent losing customers to their competitors.

 

 

In a product-centric enterprise, the focus is placed on products. The organization is more concerned about ways of producing at a cheaper rate and increasing the profit margin.

 

They want to find better ways of convincing customers to buy their products so as to close deals at the shortest time possible.

 

 

On the other hand, a customer-centric enterprise is more concerned about increasing the profitability of its customers.

 

They want to make sure that they add values to their customers and increase their value.

 

They are always looking for better ways of increasing their customer values and putting them at the centre of the organization’s existence.

 

 

In a product-centric enterprise, the organization is more concerned with churning out quality products so as to increase its market share.

 

They want to come up with quality products so as to force their competitors out of the market.

 

 

In a customer-centric enterprise, the organisation is more concerned about ensuring that its customers get the best out of their transactions with the organisation.

 

In order to achieve this, the organisation tries to put in place support and services platforms which are aimed at resolving customer issues.

 

They ensure that customers’ issues and challenges are resolved completely.

 

 

SUMMARY
So far in this article, we have looked at customer-centric enterprise and we came to the conclusion that it is aimed at making sure that organizational businesses are done from the customers’ perspective.

 

 

We also said that in a customer-centric enterprise, profit is not an immediate concern. 

 

The organisation tries to delight its customer by coining us with products and services coupled with strategies that will make customers more loyal to the organisation. 

 

This in turn will lead to more profits in the long run.

 

 

Above all, we said that a CCE always comes~ ~ with a superior brand promise, which is always supported with superior proc acts and services.

 

They also have to come up with marketing plans which are targ’t’2d at specific customers.

 

In a CCE, customers have to be treated differently. Profitable customers are given more preferential treatment than nominal ones.

 

 

Brainstorming Session

1. What does it mean for an organisation to be customer-centred?
2. Why is it that organisations mostly in third world countries are afraid of doing business from customers’ perception?
3. “Customers’ satisfaction is employees’ satisfaction” Discuss.

4   Discuss Customers’ perspectives on CCEs.

 

 

 

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Customer Centricity has much to do with the desire of an organisation to put customers first in whatever thing they are doing. In this article, I am going to talk more about Customer centricity in CRM. 

 

 

 

 

The organisation is evolving into a customer-centric enterprise that will try to anticipate what customers want and try to meet customers at the right place with the right products and services.

 

 

A customer-centric enterprise will try to forget about immediate gain. They will be more concerned with building a loyal customer base which in turn generates unimaginable profit in the long run.

 

Before we move on, I would like to give another definition of CRM. CRM has been defined by the Gartner group as an enterprise-wide business strategy designed to optimize Profitability revenue and customer satisfaction by organizing the enterprise around customer segments, fostering customer satisfying behaviours and linking processes from customers through suppliers.

Customer Centricity has much to do with the desire of an organisation to put customers first in whatever thing they are doing.

 

 

 

 

The organisation is evolving into a customer-centric enterprise that will try to anticipate what customers want and try to meet customers at the right place with the right products and services.

 

 

A customer-centric enterprise will try to forget about immediate gain. They will be more concerned with building a loyal customer base which in turn generates unimaginable profit in the long run.

 

Before we move on, I would like to give another definition of CRM. CRM has been defined by the Gartner group as an enterprise-wide business strategy designed to optimize Profitability revenue and customer satisfaction by organizing the enterprise around customer segments, fostering customer satisfying behaviours and linking processes from customers through suppliers.

 

 

Objectives of this article In this article, we want to look at Customer-Centric enterprises, which are organizations that do business from customers’ perceptive. We want to look at:      What is Customer Centricity?   Importance of customer centricity      Customer’s perspective of CCEs.

 

 

 

What is Customer Centricity?

Customer Centricity can be seen as a set of disciplines and practices that allows companies at different customers differently, thereby gaining strategic advantages leading to the expansion of revenues and increased profitability.

 

 

In Customer Centricity, you try and analyse your customers and see how you can personalize their service. This will enable you to satisfy them and gain their loyalty.

 

This will enable the organisation to have more of their customer’s wallet share.

 

 

Importance of Customer Centricity

If you ask many entrepreneurs the reason why they are not doing business from the customers’ perspective, they would tell you that it is not profitable to do business from the customers’ perspective. This is absolutely wrong.

 

 

A recent study by Delloite Consulting shows that companies that do business from the customers’ perspective are sixty percent more profitable than those that are not doing business from a customer’s perspective.

 

It has been said earlier that customers will gladly move to any organisation that can give them a better offer at a cheaper rate. The more you satisfy your customers; the more you are raising the exit barrier.

 

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CRMNuggetsis committed to fact-checking in a fair, transparent, and non-partisan manner. Therefore, if you’ve found an error in any of our reports, be it factual, editorial, or an outdated post, please contact us to tell us about it.

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To create well-reached content that will increase the intellectual prowess of our readers.

OUR VISION

To become a reference point in the blogging space by the year 2030. We want to be among the first 30 blogs in Nigeria.

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According to the Longman Dictionary of Contemporary English, the internet is a computer system that allows millions of computer users around the world to exchange information. We want to look at internet influence on CRM.

OBJECTIVES OF THIS ARTICLE At the end of this lesson, you should be able to: ·         Discuss the relationship between CRM and Internet. ·         The Internet and Globalization ·         The major CRM packages that we have in the e-business environment.

 

When talking about the internet, it is a process that allows someone sitting in the corner of his room or office to send out messages or transact business with millions of users who were connected around the world.

 

 

In our own part of the world, it has been observed that many of the business that we have in the country has not embraced the use of information communication technology in the running of their business, that is why a large percentage of them remain stagnant.

 

 

 

 

The use of the internet in the conduct of your business will help your business to grow. 

It will remove the border that you have built against your business.  One thing that could prevent customers from transacting business with you is your location. 

 

Most times, it also determines the kind of customers that you attract to your business. 

 

But with the advent of the internet, it is possible for you to transact business with individuals outside your country or continent without having your physical presence there.

 

PS: Best Help Desk Software. Check Here.

 

Worthy of mention is what some IT  organisations are doing now which many of us have been partakers of, without knowing that it is CRM in action. 

 

You can actually pick some items online and pay online or you pay on delivery.  It is one of the ways that internet add value to CRM.

 

Another way is that CRM allows customers to be served across multiple channels. 

 

If you are a truly customer-centric enterprise, you will not force all your customers and prospects to come to your offices before they can enjoy the wide range of products and services that you have to offer.

 

In serving the customers through the internet, communicate with the organisation and enjoy the same quality of service.  This will make them stick to your organisation for life.

 

 

In human nature, as we know, we always like to enjoy our freedom.  Nobody likes to be controlled by others. 

 

That is why people like to move to organisations that give them the freedom to do whatever they want to do. 

 

Take, for example, a manager in the convenience of his office, with internet banking, could send and receive money from anywhere around the world. 

 

He could also buy items from organisations that have their presence online.  This is one of the arrays of ways that the internet has contributed to the growth of CRM.

 

 

CRM AND GLOBALIZATION
Without mincing words, we will say that globalization is the process of turning the whole world into a global village.

 

This astronomical change was made possible through the use of the internet.  In a global village, there is nothing like borders or sovereignty. 

 

Without going through the process of obtaining a visa or other travel documents, you can now sell and receive goods from across the globe.

 

 

Looking at what has been discussed so far about customer relationship which has much to do with serving your customers across multiple channels, meeting their needs and putting technologies in place in order to ensure that wherever your customer is, they are able to enjoy the same quality products and services that they used to enjoy when they walk-in into any of your branch offices. 

 

 

CRM in collaboration with its associated technologies, most especially with the use of the internet will place your organisation at the centre of the global village; you will be able to meet with different prospects and customers from across the world. 

 

The main thing in CRM is that you should be able to predict your customer’s next move and meet them at the right place with the right products and services.

 

 

When you are doing business in globalize village, the customers are less concerned about where you are operating form as far as you are meeting their needs. 

 

If you failed to meet their needs, the next organisation is just a mouse click away.  That is why they don’t bother about your business location.

 

That is also the main reason why if you want to establish your presence in the globalize environment using the internet, you must be ready to constantly meet the need of your customers so that you don’t lose them as they are moving around your Life Cycle. 

As far as you continue to meet their needs, they will continue to be loyal to your organisation.

 

 
Major CRM packages

#1 Team Support

This is a user-friendly help desk that helps businesses deliver the best possible experience to their customers by building teamwork, solving in-house communicating breakdowns and answering customer inquiries.

 

 

#2 Plan Plus Online
Plan Plus Online provides collaboration and CRM for businesses. This web-based package helps increase productivity with features including sale automation, email marketing and project management.

 

 

#3 Mhelp Desk
This is a web-based CRM solution that is a web-based solution that more than 6,000 companies use in improving look order visibility. 

 

Their user-friendly interface helps businesses management support tickets, computer services and invoice and billing.  

 

 

 

#4 Act-on
This is an intuitive marketing automation solution, ideal for companies with minimal IT involvement. 

 

 

Deployed as a web-based system, the solution will automatically update so that you can focus on your business, not your software. 

 

 

#5 Saleforce.com
This is the innovator behind cloud-based CRM systems.  They played a huge part in popularizing the model by offering a contact management system that is assessable anywhere with the aid of an internet connection.

 

 

#6 Oracle Eloqua
Oracle Eloqua is a leader in Business to Business marketing automation.  It is a web-based system. It offers strong capabilities in demand generalization, lead management and revenue performance management.

 

#7 Tracker RMS CRM
It offers cloud-based relationship management systems for sales, support, project management and recruiting. 

 

The tool easily integrates with Microsoft Outlook and it is easily assessable from any internet-capable mobile device.

 

 

#8 Leadmaster Lead Management
This is an online CRM solution that offers a full set of features including online tracking, sales force automation and real-time data mining. 

 

It can be customized for specific industries, including insurance and real estate firms.

 

 

#9 Marketo Lead Management
It was founded in 2006.  The software was developed for the Business to Business (B2B) marketer and is the most rapidly growing solution on the market for lead management.

 

 

#10 Nextiva Hosted Call Centre
Nextiva provides telephony packages for small businesses that can be easily managed from an online dashboard. 

 

Their hosted call centre solution is also a tool for managing queues, routing and automatic call distribution online.

 

 

SUMMARY

At the end of this lesson, we have been able to discover that:

• The internet helps to put the business on the world map.
• It helps you to serve your customers across multiple centres.
• It allows you to give your customers the freedom that they crave.
• We have some CRM packages that organisations can use such as team support, plan Plus Online, Mhelp Desk, Act-on, and Salecom. Oracle Eloqua among others.

 

BRAINSTORMING SESSION

• If you are the new CRM Manager for Sterling Bank Plc, you have been asked to prepare a blueprint for the migration of the Bank to a “one customer bank” How will you go about this?

 

 

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Action Point
PS: If you would like to have an online course on any of the courses that you found on this blog, I will be glad to do that on individual and corporate levels, I will be very glad to do that I have trained several individuals and groups. They are doing well in their various fields of endeavour. Some of those that I have trained include the staffs of Dangote Refinery, FCMB, Zenith Bank, and New Horizons Nigeria among others. Please come on Whatsapp and let’s talk about your training. You can reach me on Whatsapp HERE. Please note that I will be using Microsoft Team to facilitate the training.

I know you might agree with some of the points that I have raised in this article. You might not agree with some of the issues raised. Let me know your views about the topic discussed. We will appreciate it if you could drop your comment. Thanks in anticipation.

CRMNuggets is committed to fact-checking in a fair, transparent and non-partisan manner. Therefore, if you’ve found an error in any of our reports, be it factual, editorial, or an outdated post, please contact us to tell us about it.

 

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We will also talk about what you need to know about your profitable customers.

When we talk about CRM, we are talking of ways by which an organization tries to do business from the customers’ perspective.

OBJECTIVE OF THIS ARTICLE In this article, we are going to look at Customer-Centric Strategy (CCS).  We will also be looking at what an organisation needs to do in order to evolve into a Customer-Centric Enterprise.  We will be looking at this under two main headings.   acquiring new customers    Retaining customers.

 
 
We will also talk about what you need to know about your profitable customers.

When we talk about CRM, we are talking of ways by which an organization tries to do business from the customers’ perspective.

 

 

Whatever form an organization adopts in order to be customer-centric, it is always aimed at acquiring new customers, customer retention and increasing customer profitability.

 

 

Acquiring New Customers
If an entrepreneur wants to start a new business, he first has to think up the right idea.

 

You have to make sure that you are producing what is needed by prospects and customers in your vicinity.

 

One thing you should know is that a portion of your resources should be committed to acquiring new customers for your products and services.

 

 

In a customer-centric enterprise, acquiring new customers is one of their top priorities.

 

You should understand that organizations operate in competitive environments where they have to compete for existing prospects and customers in the market square.

 

They always achieve this through superior customer in service and an increase in customer experience. They take even’ the opportunity to delight their customers.

 

 

In acquiring new customers, communication is very important. You must be able to get the right information to the right target in the right manner.

 

The organization must be able to project the right image of the organization. They would achieve this by projecting the profiles of the company’s best customers.

Retaining Customers

Once an organization acquires a new customer, they have a more serious task at hand, which has to do with retaining the customer and preventing the loss of customers to competitors.

 

In retaining your customers, you have to understand the relationship between the company and the brand

 

The channel of distribution and the customer Competitors always try to draw away customers through innovation and incentives which are meant to draw customers from another life cycle.

 

 

In a survey conducted by Deloitte and Touch, it was discovered that it cost five times as much to acquire a new customer as it does to keep an existing one.

 

Another research conducted by Fredrick Reicheld reported that a five percent retention in customers over their lifetime results in an 85 to 125 percent increase in company margin over that same time period.

 

 

In retaining customers, the organization must be able to communicate information about new products and innovations to the customers in real-time. They must do this throughout the entire tenure of the customer with the organization.

 

This must also be passed through the appropriate channels that the customer prefers.

 

 

The firm in retaining its customers must be able to know its customers very well.

 

They have to study customer interaction and use the knowledge to their own advantage.

 

They must be able to know when their customer is changing and utilize the knowledge in formulating a better CRM for them. they must set up an appropriate messaging process aimed at getting repeated purchases from their customers.

 

 

A customer-centric enterprise must keep track of the satisfaction level of its customers through appropriate feedback mechanisms aimed at knowing the response of its customers to its products and services.

 

They should be able to suggest to customers more ways of deriving more benefits from the product.

 

When an organization can increase the utilitarian benefits of their product, it will make customers come for more of such products/services.

 

 

In order to retain customers, organizations must come up with loyalty programs aimed at increasing the frequency and involvement level of the customer One of the ways of measuring this involvement is Life Time Value (LTV).

 

This aims at assessing the profitability of customers over their lifetime with the organization.

 

 

Lifetime value is measured in terms of historical and projected lifetime value. It allows the organization to begin to allocate marketing resources by the segmented group and individual levels.

 

 

In CRM, through the aid of technology, you can calculate what you can invest in a particular segment over a particular period of time.

 

For example, Etisalat Nigeria can decide to invest more money in the youth segment than the working class or elite segment.

Note:  Reactivation or retention is critical to the success of customer-centric enterprises.

 

 

If a customer is perceived to be profitable, the enterprise will require five kinds of information to be gathered. These include:

• Customers want and need
• Customer purchase cycle
• Customer interaction opportunities
• Customer profile
• Customer life cycle

 

Customer Purchase Cycle

This is the period between the customer’s first purchase and the next purchase.

 

The organization must also take note of the likelihood of additional purchases and the nature of purchases made by the customer.

 

 

Customer Interaction Opportunities

Tm water to enhance customer loyalty, customer-centric organisations must maximize interaction with the customer organisation. This is where touchpoints became necessary.

 

 

Customer Profile

Any organization that wishes to relate to and retain its customers must have robust customer support services in order to have formidable customer service.

 

The organization must have enough information about their customers. It is might include it in a relationship they have, the size.

 

 

Customer Life Cycle

The customer life cycle of an organisation traces the lifetime of the customer as it relates to his product use. 

 

It starts from the use of the product to the time that the customer disengages or die as the case may be. 

 

The organisation must be able to predict the behaviour of its customers and predict his next move in order to prolong his stay in the organization’s life cycle.

 

The purpose of evolving into a customer-centric is not for profit motive but it can help in saving costs through increased effectiveness of the organisations’ internal processes. 

 

If the internal process is well developed, it will increase the return on investment of a CRM initiative.

 

 

SUMMARY

In this chapter, we have looked at a customer-centric strategy.  We focused our attention on how to gain new customers and how to retain customers. 

 

We also said that it is better to focus on how the organisation will not lose customers to competitors because it will cost more to acquire new customers than to retain them.

 

 

We talked about what you need to know about your profitable customers.  These include:

 

• Customers need and want
• Customers purchase cycle
• Customers interaction opportunities
• Customers profile
• Customers Life Cycle

 

BRAINSTORMING SESSION
 

1. Discuss the relationship between the Internet and CRM.
2. Discuss CRM and Globalization
3. Do you think CRM can work without technology or software?

 

 

Do you enjoy this article, add Our Posts to your Reading List.

Action Point
PS: If you would like to have an online course on any of the courses that you found on this blog, I will be glad to do that on individual and corporate levels, I will be very glad to do that I have trained several individuals and groups. They are doing well in their various fields of endeavour. Some of those that I have trained include the staffs of Dangote Refinery, FCMB, Zenith Bank, and New Horizons Nigeria among others. Please come on Whatsapp and let’s talk about your training. You can reach me on Whatsapp HERE. Please note that I will be using Microsoft Team to facilitate the training.

I know you might agree with some of the points that I have raised in this article. You might not agree with some of the issues raised. Let me know your views about the topic discussed. We will appreciate it if you could drop your comment. Thanks in anticipation.

CRMNuggets is committed to fact-checking in a fair, transparent and non-partisan manner. Therefore, if you’ve found an error in any of our reports, be it factual, editorial, or an outdated post, please contact us to tell us about it.

 

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Customer Profiling And Modelling: How To Create Mental Image Of Your Ideal Customer.

 

In the previous chapter, we talk about the brand promise which has much to do with what consumers should expect from your organisation.

 

Before you can study your customers, you must have a clear insight into the calibre of customers that you want in your organisation.

OBJECTIVES OF THIS ARTICLE   In this article, we will be looking at the following:   Definition of customer profiling and modelling.  Customer scoring and scoring methods.  The role of technology in customer profiling and modelling.

 

 
Introduction
In the previous chapter, we talk about the brand promise which has much to do with what consumers should expect from your organisation.

 

Before you can study your customers, you must have a clear insight into the calibre of customers that you want in your organisation.

 

Having a clear insight into this will help your organisation to evolve into a truly customer-centric enterprise. In order for you to succeed with this, you need to engage in customer profiling and customer modelling.

 

 

The elements that identify the best customer profiles should be those that reflect the corporate business model, unique selling proposition and customer value statements(s).

 

 

An organisation must be clear about which strategic objectives they want to optimize and for what products, to arrive at a sound basis for customer profiling and modelling.

 

In customer profiling, we are talking about having enough information about our customers and using that information to come up with products and packages that will satisfy the need of our customers.

 

An organisation must know what they want to achieve with each of their products and how they intend to achieve it.

 

 

Customer modelling, on the other hand, is the process of coming up with products that will meet the needs of different categories of customers that you have in the organisation.

 

For example, Etisalat came up with an easy cliq in order to suit the need b segment of their subscribers.

 

 

The difference between a profile and a model is the element of time, making a model more a powerful predictor of behaviour.

 

Modelling involves profiling in order to elicit action. In modelling, we are talking about acting upon information that you have about your customer.

 

You might access the information that you have about your customers in order to see what they have in common.

 

This will help you to come up with products and packages that will suit a large percentage of them.

 

You should know that models are not static in nature.

 

You try and consider your customer behaviour and discover what they have in common.

 

 

A model can help the organisation in constructing campaigns, designing marketing plans, and offering better products and services to the target customers.

 

 

SUMMARY
So far in this chapter, we have talked about customer profiling and modelling, which has much to do with compiling of customer data and having as much information as possible about customers, including a relationship that they keep

 

In order to come up with models, that is products and packages that will meet the need of a large percentage of the customer base.

 

We also talked about the scoring method to be used which includes the Recency, Frequency and Monetary behaviour of the customers. 

 

Role of technology is also discussed which we believe will help us in understanding the customer and the type of relationship that they keep.

 

 

There is a need for market research and knowledge management which will help organisations to know more about their customer base and come up with products and services that will meet their needs.

 

Do you enjoy this article, add Our Posts to your Reading List.

Action Point
PS: If you would like to have an online course on any of the courses that you found on this blog, I will be glad to do that on individual and corporate levels, I will be very glad to do that I have trained several individuals and groups. They are doing well in their various fields of endeavour. Some of those that I have trained include the staff of Dangote Refinery, FCMB, Zenith Bank, and New Horizons Nigeria among others. Please come on Whatsapp and let’s talk about your training. You can reach me on Whatsapp HERE. Please note that I will be using Microsoft Team to facilitate the training.

I know you might agree with some of the points that I have raised in this article. You might not agree with some of the issues raised. Let me know your views about the topic discussed. We will appreciate it if you could drop your comment. Thanks in anticipation.

CRMNuggets is committed to fact-checking in a fair, transparent and non-partisan manner. Therefore, if you’ve found an error in any of our reports, be it factual, editorial, or an outdated post, please contact us to tell us about it.

 

Hi, I now use RavenBank to send, receive and save money. I also pay my bills with ease, you should try it out too

Customer Satisfaction In CRM: How To Make Your Customers Come For More.

 

 

 

Customer satisfaction results from process 0! internal evaluation that actively compares expectations before purchase with a perceived performance during and at the conclusion of the purchase experience.

 

 

OBJECTIVES OF THIS ARTICLE                 In this article, we want to look at: The meaning of customer satisfaction. Relationship and differences between customer satisfaction and customer loyalty. Relationship between customer satisfaction and brand value.  How to measure customer satisfaction   Importance of customer satisfaction.

 

 

 

We have said earlier that, before customers purchase your product(s), they have some expectations in mind. If these needs are met, then customers will be satisfied.

 

 

In analyzing customer satisfaction and expectation of prospects or customers before they purchased or after they purchased your product, the smaller the discrepancy between the customers’ expectation and the perception of the purchase experience, the higher the resulting satisfaction level.

 

Relationship Between Customer Satisfaction and Customer Loyalty

 

There is a very wide difference between customer satisfaction and customer loyalty . Satisfaction measures attitudes.

 

Satisfaction in customer relations measures the attitudes of the customers towards the product. What is satisfactory to one person might not be satisfactory to others.       

 

    That is why we say that it is based on attitude.

 

 

A successful customer strategy will try to link these beliefs, inherent in performance, and actions and behaviours associated with likely future purchases and recommendations.

 

To formulate an effective loyalty program. what we are saying here is that a customer-centric enterprise can capitalize on the satisfaction that customers derive from their product to build a reliable loyalty program.

 

 

Correlation between Customer Satisfaction and Brand Value

 

There is a very wide link between customer satisfaction and organizational success.

 

Customer satisfaction results from the creation of value for the customer. If customers’ needs are met and the organization is able to add value to their customers, they will be able to remain loyal to the organisation.

 

 

This will also to employees’ satisfaction and loyalty.

 

 

Customer satisfaction has much to do with the kind of value an organisation adds to its customers.

 

These values can be functional or emotional in nature.

 

An organization can add functional values to their customer’s life through product improvements, added features, access, and convenience among others.

 

 

An organisation can also add emotional value through the provision of superior customer service.

 

The emotional value you should know is more paramount than functional values as it leaves a lasting impression in the mind of consumers.

 

It will enable them to recommend the product to others, and it will give the firm a higher share of their business.

 

Functional value customers are more or less not likely to remain customers for life.

 

They will likely leave if any other organisation is able to provide exactly what they want, maybe at a cheaper rate.

 

Customer satisfaction can therefore be said to be a “composite mix” of different value components in the total value proposition.

 

This is one of the reasons why customer satisfaction surveys can be misleading or misinterpreted.

 

 

Measuring Customer Satisfaction
Here, we want to look at the reasons why we need to have a well-planned loyalty program and customer satisfaction measurement.

 

You should know that there must be a way of measuring customer loyalty.

 

You need a survey for example to capture customer satisfaction but this must be supported with proper analysis so that we can interpret the results.

 

 

One of the methods of analysis that can be used in analyzing satisfaction is a regression of attribute ratings, framed in order to reveal which characteristics have a test impact on overall customer satisfaction.

 

 

We can also talk of multiple classification analysis which reveals the benefit of risk specific associated with a specific level of customer satisfaction.

 

In order to achieve this, a customer
The strategy should also consider means and methods to improve response rates and generate more meaningful feedback.

 

Importance of Customer Satisfaction
Customer satisfaction represents an important feedback mechanism for brands to determine how they have been received and where weaknesses exist among competitors that might be used to hire customers.

 

Customer satisfaction will allow you how your product is faring in the market and what you need to do in order to outsmart your competitors.

 

 

As an organisation, the main reason why you should be building a customer satisfaction mechanism should be based on how you can improve your customer’s experience.

 

You should know that you have to devise several ways of improving tour customers’ experience but you should beware of your actions because a single mistake can destroy what you have built for many years.

 

 

SUMMARY
So far, we have talked about customer satisfaction. We said customer satisfaction is based on two components which are functional or emotional in nature. We also discussed that it is good for you if your customers have an emotional attachment towards your products. Those that have functional attachment will always join your competitors’ Life Cycle if they can meet their needs or performs better than you.

Above all, we said you should be mindful of your actions while carrying out any Loyalty program as a single mistake can spell doom for the entire enterprise.

Brainstorming Session

1. In your own view, what are the benefits of having a loyal customer base?
2. Discuss the components of customer loyalty in relation to a laundry firm.
3. You hate lust started a boutique. to you: what use strategies that you can to create `customer loyalty?
4. What is a Brand Promise? How can an organisation create one?

 

Do you enjoy this article, add Our Posts to your Reading List.

Action Point
PS: If you would like to have an online course on any of the courses that you found on this blog, I will be glad to do that on individual and corporate levels, I will be very glad to do that I have trained several individuals and groups. They are doing well in their various fields of endeavour. Some of those that I have trained include the staffs of Dangote Refinery, FCMB, Zenith Bank, and New Horizons Nigeria among others. Please come on Whatsapp and let’s talk about your training. You can reach me on Whatsapp HERE. Please note that I will be using Microsoft Team to facilitate the training.

I know you might agree with some of the points that I have raised in this article. You might not agree with some of the issues raised. Let me know your views about the topic discussed. We will appreciate it if you could drop your comment. Thanks in anticipation.

CRMNuggets is committed to fact-checking in a fair, transparent and non-partisan manner. Therefore, if you’ve found an error in any of our reports, be it factual, editorial, or an outdated post, please contact us to tell us about it.

 

Hi, I now use RavenBank to send, receive and save money. I also pay my bills with ease, you should try it out too

Unknown Facts About Customer Loyalty In CRM

 

 

Definition
A customer is said to be loyal if he continues to buy a particular product or service after the first purchase.

 

It can also be seen as the desire of an organized person to resist offers from competitors and stick to a particular product(s) or service(s).

OBJECTIVES OF THIS ARTICLE In this chapter, we want to take a look at what customer loyalty is. What are those things that make customers to be more loyal to an organisation? What is a brand promise? · How can you use brand promise to your organization’s advantage. All these will be examined in this chapter

Definition
A customer is Ioyal if he continues to buy a particular product or service after the first purchase.

 

It can also be seen as the desire of an organized person to resist offers from competitors and stick to a particular product(s) or service(s).

 

 

Importance of Customer Loyalty

Customer loyalty helps businesses to retain lower costs, higher-margin and greater profits than businesses that fail to satisfy and retain their customers.

 

What we are saying here is that, if an organization has loyal customers, they will spend less on adverts or other drives that are aimed at attracting new prospects into the organization.

 

That is why it is said that loyal customers are the principal drivers of profit.

 

 

In any organization that is customer-centred, the main reason why they have decided to tow that line is to retain their customer Research shows that the cost of acquiring a customer is almost five times of that of retaining them.

 

Heavy advertisers confirm this too. Loyal customers continue to purchase your products and services.

 

As they grow with your organization, their value increases as they also introduce new businesses to your organization.

 

Components of Customer Loyalty

We have two basic components of customer loyalty, Perceptual and transactional components.

 

The perceptual component is loyalty that is based on perception. This happens when customers become based on their attitudes, opinions and emotions.

 

It happens when customers feel fined after they have used a particular product. It has to do with how much the organization is able to meet the customers’ pre-purchase expectation.

 

For example, a customer that bought Mercury soap or cream because he wanted to tone his body.

 

 

Transactional measurement of loyalty has much to do with customers intentional or tangible purchase behaviour, such as inclination towards making a repeat purchase.

 

Some just like to make a repeat purchase, not necessarily because the product satisfied their needs.

 

 

A customer might decide to stick to an organisation because of the stress involved in searching for another product that will do just the same thing.

 

This might be attributed to search costs, transaction cost, learning cost and other forms of risk associated with switching to a competitor.

Wallet Share

This is one of the ways of measuring customer loyalty. It has much to do with the amount of money a customer is willing to share wIth the organisation over a particular period of time.

 

You can determine this by dividing total purchase of the corporate brand in a particular category, say toothpaste by their total purchase in a specified category.

 

 

Note: It is reasonable to assume that loyalty is re-purchase behaviour.

 

 
Loyalty is also a process; it is not something that happens overnight but an organisation can evolve means of bringing it alive by fostering behaviours and implementing processes and technology that will make customers to stick to the organisations minding mouth-watering offers from competitors.

 

 

How to Create Customer loyalty

When an organisation wishes to build a loyal customer base, it must be intentional, consistent and different.

 

They must be ready to add values to their customers. The must be able to serve their customers in such a way that serving customers in a unique way becomes an engine for growth in the organisation.

 

 

An organisation that wishes to build a loyal customer base must be able to identify its profitable customers.

 

They must be able to do things differently. Not only that, they must be able to offer services in such a way that they leave a lasting impression in the mind of their customers.

 

 

If customer loyalty is based on customer behaviour, it will more be effective in making customers to be more loyal and satisfying their needs. 

 

It will also turn loyal customers to advocates who advertise your products and services without your paying a dime
 

 

 

 

Summary
So far in this chapter, we have talked at length about customer loyalty which we defined as a repeat purchase. We also said the components of customer loyalty are perceptual and transactional.

 

 

We also discussed ways of creating customer loyalty which we said must be intentional, consistent and different. They must be ready to add values to their customers.

 

 

Finally, we talk about the brand promise which is what people had in mind before they purchased your product. If you fall short of their expectation at any given time, they are likely to look V the direction of our competitors.

 

 

Brainstorming Session

1. What is a call centre?’ do you think that the establishment of a cell centre translates to the fact that an organisation is customer centred.
2. Explain Segmentation and Profiling in relation to Etisalat products and services.
3. Why do you think that organisation needs to segment and profile their
   customers?
4. “Without a proper customer strategy, a CRM strategy cannot succeed” how truth is this assertion.

 

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Action Point
PS: If you would like to have an online course on any of the courses that you found on this blog, I will be glad to do that on individual and corporate levels, I will be very glad to do that I have trained several individuals and groups. They are doing well in their various fields of endeavour. Some of those that I have trained include staff of Dangote Refinery, FCMB, Zenith Bank, and New Horizons Nigeria among others. Please come on Whatsapp and let’s talk about your training. You can reach me on Whatsapp HERE. Please note that I will be using Microsoft Team to facilitate the training.

I know you might agree with some of the points that I have raised in this article. You might not agree with some of the issues raised. Let me know your views about the topic discussed. We will appreciate it if you could drop your comment. Thanks in anticipation.

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