Tuesday, 3 May 2011

The Executive, Consumer and CRM

In today’s information age, the typical consumer is
continually getting lost and confused in the sea of
random facts, news and reviews; which are just a click
away in the information superhighway that is the
Internet. The declining stock value of "clogged" Web
sites such as Yahoo.com proves this, as surfers are
slowly averting their eyes from these kind of sites
and subsequently go to more specialized (and therefore
credible) ones that truly cater to their needs:
ESPN.com for the sports buff and BBC.co.uk for the
current events-savvy businessman.

These are the types of things that any Marketing
Department of an enterprise should jot down on their
databases whenever they’re trying to reach out to
their target market; and this proves the growing
importance of Customer Relationship Management (CRM)
in today’s information-clogged era.

Approach

The approach of CRM utilizes every facet of the
organization; and each of those groups go hand-in-hand
in order to achieve what the enterprise is meant to do
in the first place: please customers, which, in turn,
cultivates brand loyalty, leading to a gradual
increase in profit.

The core departments for the building
corporate-consumer relationships are the Internals and
Marketing Department as they direct the mechanisms and
paint the image of the company, respectively. The
former, for instance, guides the whole enterprise by
creating policies and safety nets in accordance to the
company’s philosophy. The latter on the other hand,
identifies their target market and will find ways to
cater to their needs.

These lay the background for the other departments,
who see to it that the complex machinery that is the
corporation gets what it wants with the greatest
efficiency (Human Resources) and with a clean and
respectable image to boot (Public Relations).

Delivery

But given all this massive information about consumer
wants, performance ratings, cost-efficiency ratio and
tons more, how does a company streamline all this to
make the information as convenient for the Brand
Manager as it is for the Marketing Analyst? CRM
software: technology gives enterprises, big or small,
a chance to gobble up all the statistics and facts
that hound them and present it in a clear and
simplified manner.

Products such as the web based Infusionsoft and
outlook based ProphetCRM offer entrepreneurs and
managers alike different features and conveniences
atop of the standard contact and referral tracking
management options. So to speak, there are specific
CRMs that cater to small and medium enterprises (SMEs)
and also to the heavyweights of the corporate world.

The growing need for consumer-centric strategies

In this rapidly globalizing world, where trade borders
are gone and the once daunting walls that are tariffs
eroded, companies, old and new, are jostling to be on
the top spot in their respective industries. This is a
time where one needs to know more than the other with
regards to consumer desires simply to survive the
corporate wolves’ den.

Information is the key: not only do they have to
recognize their primary and secondary target markets,
they have to "be them": they have to engross
themselves into their customer’s culture, empathizing
with their feelings about products and correcting
themselves whenever they hear complaints about the
company’s shortcomings and faults. What better way to
be figuratively a part of them by the means of
observance of sales tracking, surveys, employee
relations, service reconstructing and the like? That’s
the beauty of CRM and technology, hand in hand.

No comments:

Post a Comment