The Many Types Of Customer Relationship Management

What is CRM? It is an acronym that means Customer Relationship Management

. This is one of the latest strategies in the business industry that specializes in interacting with customers and their interests. This type of strategy has become an invaluable tool because it has the potential to create more loyal customers in the process. For instance, a CRM strategy that has proven to be very effective in supermarkets and department stores is the use of rewards card. This card will give customers access to certain deals and various discounts on selected items, whenever they swipe the card upon checkout. At the same time, the store will be able to produce a detailed profile in regards to their customers purchasing habits, through the information relayed from the customers rewards card. The store will then use the information in order to come up with programs that will motivate their customers to buy more from their store.

There are three types of CRM strategies, and they are: Operational, Analytical, and Collaborative. The operational customer relationship management strategy oftentimes puts the needs of every customer into account. A special kind of software application is usually used as a kind of database for the customers name, address and other relevant data. This will help several business organizations to address their customers wants and needs in the most efficient way. This, in turn, increases their sales while creating good relations with their clients. The core benefit of this strategy is that employees will be able to provide rapid response and service to the customers.

Arguably, the rewards card strategy (that was mentioned earlier) falls under the analytical customer relationship management strategy. This type of strategy helps business owners to better understand their customers through proven and effective methods. Finding out what the customer needs through analyzing their purchases and changing the business customer service accordingly will eventually create an increase in customers and customer loyalty. Gathering and analyzing customer data is the key. Purchasing patterns and customer trends may reveal from the data gathered, and this will give business owners certain gleaning insights about their customers.

The last type of CRM strategy is the collaborative type. This strategy will make use of the several teams that are responsible for managing and keeping the business up and running. The data collected from the sales, technical, legal and marketing teams will be combined into one workable format so that all the aspects of the business are being worked together. The process of collecting data can also have its many forms. There are business owners who make use of the Internet and gather their information, in regards to their customers, from there. If all the conditions are right, this will increase the workflow of the business. In practical terms, however, each team will be working independently and there are times that they will be working in rivalry with each other. Collaborative customer relationship managements goal is to create new lines of communication between the business and the customer, for a better customer service.

by: Veronika Dimitrova

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