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Measuring Effectiveness of Customer Relationship Management - Essay Example

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Here’s what happened (purely imaginary). One Senior VP has 2 VPs reporting to her. VP Blue thinks Verizon should view technology as the savior of CRM. VP Green thinks Verizon is…
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Measuring Effectiveness of Customer Relationship Management
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"Measuring Effectiveness of Customer Relationship Management"

Download file to see previous pages Don’t waste time on background or definitions. Use this space to help the Senior VP deal with these diverse opinions and get on with the real work of helping customers who lose their cell phones and want Verizon to buy them new ones.
Traditionally CRM (Customer Relationship Management) was mainly concerned with maintaining a close relationship with the customer. This was generally perceived as the relationship maintained by a small shopkeeper with his customers from the same street or locality. However, this was practically impossible for the larger corporations. With the advances in technology, CRM systems also grew, making it possible for companies to apply CRM techniques. According to VP Blue who emphasizes only on technology, the CRM system in place will ensure prompt response to the customers and they can utilize these systems to self- serve certain, if not, all services. A number of aspects of CRM which are otherwise impossible have been achieved with the help of technology. Techniques including, data mining, database warehousing and database marketing enable the firms to target specific group of customers. Mooney (2000) says that technology has been applied not only to sales support and marketing processes but also to planning, trouble shooting, forecasting, campaign management etc. This helps in improving the efficiency of the poor performing processes.
The service aspects and the customer interactions also play an important role in CRM, as positive interactions are the most important events in maintaining a positive relationship. It is interesting to note that lesser calls or complaints to the customer care center is not a good sign and is an indication that the company has to improve its service qualities and customer relations. The main reason is that 90 percent of customers do not lodge a complaint after a company delivers a defective product or a poor service (Farrington, 2009). They just ignore the service provider from then on, as they are ...Download file to see next pagesRead More
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