Customer Relationship Management (CRM)
What is the value of a customer? Or conversely, what is the value lost when a customer defects?
In an age where technology has reduced time and distance to almost zero, there has been a rapid rise in customer expectations. Instant access to companies and information has shifted the balance of power in the buyer-seller relationship to customers. They now decide where, when, and how they will interact with companies. It has become clear that the only sustaining competitive advantage is the quality of customer relationships. Therefore, reorganizing the company around the customer has become a competitive mandate, not an option.
In today's hyper competitive environment, it is critical that we understand the value of each customer, and are able to retain and grow our customer base. As the customer is able to access more information from more companies, and their attention span decreases; it is becoming increasingly difficult for the Small and Medium Enterprise (SME) to manage this resource effectively.
Infomatika's Customer Relationship Management (CRM) Process enables companies to integrate all customer contact points, while synchronizing previously independent customer management assets. These assets include: marketing databases, call centers (including the Web, e-mail, fax and phone contact points), fulfillment, and order management systems. The customer's view of the Enterprise and brand becomes unified, as does the company's view of each customer. This allows the Enterprise to measure the value of each customer and reallocate resources to serve the customers providing the most profit, and those representing the greatest future potential.
Enterprise-wide knowledge of a customer enables a company to:
- Reduce overall marketing costs, by developing more effective, targeted campaigns,
- Increase customer satisfaction and retention by enabling call center representatives to be more responsive to customers,
- Increase sales by offering products/services that meet the best customers' wants and needs,
- Improve communication with customers by utilizing their preferred channels, and
- Achieve higher ROI by increasing profitability per customer and sale