Customer Relationship Management (CRM)

Think of yourself in a situation when you are a customer at some company or store or anywhere, you must be wanting the best product or services with quality, care and attention. Yes for sure... and when you get such response which you expected, you are happy and satisfied.

This satisfaction and contentment of the customer are the most important for any business operating. A happy customer can turned to be a loyal one. This is the customer who can contribute increasing your sales and ultimately profit. And making profits is the basic purpose of any business.

So we conclude that Customers are the major asset of a company and should be taken care of accordingly. With this philosophy at the center of the operations of a business, trend is moving from transaction based selling to relationship building selling approach. So here comes the role of Customer Relationship Management (CRM). It is all about strategies developed to maintain long lasting relationships with potential customers through software and internet technology.

Management establishes databases regarding customer's information. This information may include customer's birth date, buying patterns, frequency to shop, addresses, age, feedback etc. then this information can be utilized to build up lasting relationships, like sending a greeting card on birthday, a cake on occasion like happy new year, Eid etc, a special discount offer and many more. these strategies make customer's feel special and this special treatment makes them loyal to the company and its products/services. Feedback helps in improving the area where a company may be lacking and through feedback company get to know their customer's preferences, likeness and latest trends. Feedback also let the customer feel important as they think that their opinions hold some values.

Building a strong customer base through customer relationship management is gaining popularity among businesses. this practice is applicable both among giants and small businesses. this practice helps in attaining competitive edge over competitors.