Introduction
Customers are one of the most critical components of a company’s business activities. The concept of Customer Relationship Management (CRM) in this context becomes a tool for establishing close and loyal relationships between consumers and organizations. In the company’s business activities, it is necessary to follow Customer Relationship Management and its primary efforts, which will improve and consolidate this interaction.
Application of Customer Relationship Management at an Advertising Company
Current Use
At the moment, I am doing business with a company that provides advertising services. Based on our interaction experience, I can say that they make effective CRM efforts that contribute to increasing loyalty and my satisfaction as a customer. First, it is worth noting that CRM implies the “integration of processes, human capital, and technology seeking for the best possible understanding of a company’s customers” (Gil-Gomez et al., 2020, p. 2734). Therefore, efforts can be understood as activities that help to gain as much knowledge as possible about those with whom the organization does business.
One of the CRM actions the company I work with takes is providing the necessary information when questions arise. That is, the company’s managers provide the necessary advice to guide and facilitate the buyer’s task. Moreover, the positive side is the provision of discounts and a loyalty program, which implies receiving promotional offers for further purchases. In addition, I consider it essential to CRM efforts to use a personalized approach that provides a sense of the importance and value of the client to the organization. Therefore, I believe the CRM efforts undertaken in this case have significant effectiveness.
Recommendations
It is possible to offer several recommendations to create the closest relationship with customers or other companies. One of these CRM efforts is to improve the scope of obtaining information about the buyer. Even though the company already has quite good indicators, it should delve not only into the study of its target audience but also of all buyers in general. Moreover, acquiring information about companies and individuals who work with opponents in the market may be of particular value.
Ansari et al. (2019) pointed out that “CRM with big data has enabled the business to become more aggressive in terms of marketing strategy like push notification through a smartphone to their potential target audiences” (p. 100). Thus, acquiring information will help find new ways to attract and retain customers and gain a competitive position in the industry.
Using a specialized CRM system will allow for the acquisition of the most valuable information about customers. Social networks can become a helpful source within the framework of modern society and the development of technology. This is because when studying this area, the company’s managers can get the most honest and authentic feedback from customers. This information will contribute to developing new strategies and approaches to improve CRM in the company.
Conclusion
Customer relationship management has a significant role in building positive relationships and bonds with customers. To obtain complete information about them, managers need to research various sources. The most relevant may be social networks, as consumers share the most honest and authentic feedback. Having acquired this knowledge, the company can improve its activities significantly.
References
Anshari, M., Almunawar, M. N., Lim, S. A., & Al-Mudimigh, A. (2019). Customer relationship management and big data enabled: Personalization & customization of services. Applied Computing and Informatics, 15(2), 94-101. Web.
Foltean, F. S., Trif, S. M., & Tuleu, D. L. (2019). Customer relationship management capabilities and social media technology use: Consequences on firm performance. Journal of Business research, 104, 563-575. Web.
Gil-Gomez, H., Guerola-Navarro, V., Oltra-Badenes, R., & Lozano-Quilis, J. A. (2020). Customer relationship management: digital transformation and sustainable business model innovation. Economic Research-Ekonomska Istraživanja, 33(1), 2733-2750. Web.