Customer Satisfaction

Customer Satisfaction



Customer Satisfaction

Introduction

Adding value to products and services through customer relationship management can lead to a competitive advantage in the market, provided, an organization has executed this strategy properly. Customer relationship marketing is a phenomenon that is not just a value added strategy it is necessary. With the competition that exists in the market in this twenty first century it is most important to retain the loyalty of already made customers. It is widely known that word of mouth advertising is the best advertising. Consider these statistics: satisfied customers tell four people; dissatisfied customers tell nine people; and delighted customers tell eighteen people (Clapham 2002). To embark on the most positive feedback from a consumer it is necessary to utilize full potential of the employees of an organization to make sure that a customer is more than satisfied.

 

Customer Relationship Marketing

How can we do this? What exactly does customer relationship management (CRM) entail? CRM, according to Payne and Frow, has three different perspectives. It can be viewed narrowly and tactically, wide-ranging technology, and customer centric (Frow 2005). According to this article CRM can mean the new implementation of technology, customer-oriented technology solutions, and a way to increase shareholder value. Customer relationship management can go in all three of these directions (Vavra, 1997). It is important to recognize who is actually building the relationships with a customer. An organization has employees that are trained to sell a product or service. Companies do not foster and maintain customer relationships- their people do (Crosby 2002). A company hires employees that they feel can create and maintain relationships with the customer. It is purely up to the employees to create and maintain the customer. It is the dedication and respect they have to the organization and customer that will drive the relationships into long term partnerships (Simons, 2000). It is simpler for a customer to be able to contact one or two people for any questions or concerns they may have. It is a burden for a customer to get transferred from person to person to answer questions or solve problems (Schultz, 2001).

Knowing the Customer

When adding value to the customer a business can also be adding trust and respect. These two attributes may lead to a lasting relationship with a customer, creating a competitive advantage and maximizing profitability. It is important to know and understand what a customer needs and wants. In the retention process a customer may come to trust an organization with the recommendations of new products and services. It is often true that a sales pitch may not be done as extensively as a new client would expect. Knowing and understanding what your customers truly need will build that trusting relationship. Part of this involves understanding customer experiences that meet or exceed those expectations (Crosby 2002).

Technological Advances in CRSM

Customer relationship management has had a new turn with technology. Some view CRM as having a call center for support, but in fact it is much more than ...