New business terms and ideas come around from time to time that end up leaving some of us out of the know. That is to say that they are such new concepts that we have not yet had them explained to us. We do not understand what they are. One of those questions that leave some business owners scratching their heads today is the question: “What is CRM?”.
Customer Relationship Management
CRM stands for customer relationship management. It is a set of ideas, technologies, and strategies to keep customers happy and well taken care of. The use of CRM is something that any modern business would be wrong not to try. After all, every individual customer has a unique backstory, and it is nice to know a little more about them as people when trying to make the sale.
Customer relationship management can mean anything from a particular type of software that one purchases all the way to just a way of talking to customers. It is basically just the set of ideas and plans to make for a more constructive relationship with customers.
It Is Not Just About Price Points
Expensive economics textbooks may tell students that the only thing that matters to consumers is what prices are offered on a product. That suggestion is based in economic theory and often does not hold water in the real world. Consumers are more than just price calculating robots, they care about the service they receive as well.
Zapier.com reminds us that the “R” in “CRM” is perhaps the most important part of it all. Using new tactics is all about establishing a relationship with a person. If that relationship is strong and healthy, then there should be no problems at all. Sales will continue to come in and word will spread. However, if one focuses solely on price points at the expense of the customer experience, then that company will not survive for long.
Open Up the Dialogue
Many consumers feel that brands do most of the talking when it comes to trying to sell to them. They feel constantly bombarded by advertisements to sell them the latest and greatest things. At the same time, they are not necessarily being listened to by those companies. They just want to have their voices heard.
In order to capitalize on what consumers are asking for here, companies should open up the dialogue and listen to some of the feedback that customers have for them. The more that a customer talks, the more that the company may be able to gain from them. It is like getting free market research from the very people who like your products in the first place.
All of these are some of the early beginner steps that any company should take in order to implement a new CRM program. They are the way that new customers feel welcomed, and they help to bolster the attitude of friendship within the confines of a business relationship.