If you've ever studied Customer Relationship Management (“CRM”) academically, it's likely that these four steps (identifying, differentiating, interacting and personalizing) are already familiar to you. During the second stage of the customer relationship, the knowledge stage, we work to develop trust with the customer. This is achieved through a process called a trust test. Observations help the customer reach a conclusion that drives the buying decision.
From that decision comes an expectation and, hopefully, a favorable experience. Customer-centered businesses assume that creating value for customers is the only way for companies to create value for themselves. It's difficult to create a singular definition for a customer-centric business. Reference is often made to Treacy and Wiersema's definition of client intimacy.
However, a term such as “customer excellence” can also be used to describe your organization's focus on the customer. An organization and its employees often have a much different perspective on the customer focus than their customers. Research among employees shows that 70% think their organization is customer-focused. But if you ask the same question to the customers of that organization, it turns out that only 8% of customers think the organization is customer-focused.
Not all organizations have reached the same level of maturity when it comes to focusing on the customer. Every organization has a different story, objectives, market and customers. It's natural for them to have different priorities when it comes to focusing on the customer. This can be seen in the different uses of aspects of the nine-layer model.
Customer relationship management (CRM) helps companies develop strategic processes to gain the loyalty of their best customers and improve the buyer experience. This process involves evaluating business processes and organizational structure to manage customer acquisition, retention and development. A good example of this is that many organizations that want to focus on the customer quickly implement (mature) customer KPIs, while the customer experience has not yet been defined (immature). Once you've documented customer interactions, you can analyze them to develop a more personalized, personalized service.
You also know that dissatisfied customers have a negative impact on your value as a customer and, therefore, on your organization as a whole. To that end, the purpose of CRM is to optimize the relationship that the company has with its strategically important customers to maximize profits and achieve long-term success. The most interesting (and the one that offers the most opportunities) aspect of CRM is creating a holistic approach to the customer, with a complete customer profile as a basis, using the right analysis and information. Once your customers have been analyzed and categorized, you can develop personalized interactions, for example, for valuable customers, you can offer loyalty benefits or rewards to encourage retention and ongoing spending.
It is the fundamental strategy that a company uses to develop a customer-centered culture that focuses on managing and optimizing its current and future customer relationships. Passionned Group's CRM specialists are eager to help you with independent advice and the implementation of customer relationship management. As a director, client manager or consultant, you're always trying to find new ways to permanently increase the value of your customers. Customer data is often hidden in their systems, not to mention the information that customers leave on the Internet.
The customer experience then affects the customer's proposal (what is offered to the customer) and customer management activities.