Answer to Question #179696 in Management for Moni

Question

Customer Relationship Management on "Marketing and Customer Relationship Management in the Age of Social Media"

Vestel's CRM strategy in Turkey should be examined. 

For this purpose, academic publications, the web page of the company, news published in newspapers and magazines, and Internet resources can be used.

 The business to be reviewed:

 1. How are CRM Applications?

 2. How is the CRM System set up and operating?

 3. How are the Calculations of Customer Lifetime Value?

 4. What are the Activities for Customer Satisfaction and Loyalty?

 5. What are the Activities Conducted to Establish Empathic Communication with Customers?

 6. How are Customer Analyzes done?

 7. What kind of system has been established for Customer Complaint Management?

 8. What are the activities carried out to adopt the Customer Oriented Organization Culture?

 9. What kind of activities are planned for the future for CRM in the business?

Answer 1

Customer Relationship Management (CRM) is any strategy, tool, or process that aids businesses in better access and organize customer data.

First of all, warrant the highest management buy-in and seek a project manager. Select a determined super-user and launch it. For efficiency, ensure usage guidelines are offered and effective training, therefore, describe a CRM and adopt its philosophy. 

The humblest procedure for calculating Customer Lifetime Value is the regular total order multiplied by the regular number of acquisitions in a particular year multiplied by regular preservation time in specific years. Hence, this offers the regular lifetime value of a purchaser grounded on existing information.

Enroll clients in a loyalty program based on points while engaging them through social media. The customers need to be encouraged to become brand ambassadors through referrals. Lastly, update customers through email marketing and delight clients on special events.

To be empathetic, listen carefully, and smile at all customers. In case of an issue, make it your issue and allow customers to get it all out while being respectful. Finally, comprehend the customer's priorities and show them that you care a lot. 

Customer analysis is done through identification of the clients, discovering the needs and pain points of clients, and lastly grouping clients according to analogous behaviors and traits. 

The complaint Reporting Process is software created for Compliant Management. It allows one to create a corporate-wide and reliable, system for tracking, recording and replying to customer grievances. 

To ensure a customer-oriented organizational culture, a great client experience pushes higher revenues. Besides, ensure that customer experience is everybody’s role. As management, there is also a need to sustain the sales team in their interactions with clients. Finally, ask clients what they think while personalizing their experience.

Finally, the major goal for the future of CRM is to establish integrated marketing, sales, service, and business possibilities for all firms, and for organizations to offer current and potential clients linked Omni-network experiences.