CRM – Customer relationship management

CRM or Customer Relationship Management is a term used widely in the marketing and business management sector.

Simply, it is about effectively utilizing the relationship between your business and your customers to increase business.

The specifics of how you implement CRM in your business will be dependent on your industry, the type of customers, and logistical issues such as staff, time, and other resources at your disposal.

Whatever your situation, it is critical that you have some form of CRM in place. Every time you communicate with a new, existing or potential customer provides an opportunity to develop your relationship with them further.

It is only through effectively knowing your customer (their purchase history, needs, and behaviours) that you can effectively target your marketing strategies and competitively position your business.

The key purpose of CRM is to ensure you have all relevant information on your customers at your fingertips, and that you use this invaluable resource to solidify your customers’ relationship with your business.

The underpinning principle to CRM is that all key processes within the business are focused on the customer – ‘how can we better serve our customer?’. Through CRM you know your customer, and understand better how to meet their needs.

However this knowledge has to be carried through to the next level, which is communication with your customer. It is through this communication that you have the opportunity to directly reflect your ‘connection’ with their needs and build the relationship between them and your business.

“This article was written by Tracy-Madonna Wylie, Business Manager, Nutbirdz Strategic Marketing, and printed in the My Marketing Companion column of the Fraser Coast Chronicle in 2007.”