Benefits of the Three Pillars of Customer Relation Management
Directions: Be sure to make an electronic copy of your answer before submitting it to for grading. Unless otherwise stated, answer in complete sentences, and be sure to use correct English spelling and grammar. Sources must be cited in APA format. Your response should be a minimum of one (1) single-spaced page to a maximum of two (2) pages in length; refer to the "Assignment Format" page for specific format requirements.
Part A: Name and describe each of the three pillars of relationship management. What are the benefits of each?
Part B: Why is technology important to support relationship marketing? What are the tools, both company-side and client-side, used to enhance the relationship management process? How does each one work?
Part C: Of these tools, which two (2) company-side and which two (2) client-side tools do you feel are most effective and why? Support your selections with concrete examples.
Total possible points of 100 include 25 points for organization and coherence, spelling, grammar, and punctuation, and properly citing any references.
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Every other business has to work around the goal of having the customers satisfied, which relates to the nurturing, engaging and the aspects of indentifying the customers. The basic strategy that is used by businesses in the management of the customers’ relations to the business is referred to as the Customer Relation Management (CRM). There are three pillars to the CRM that cement its fundamentalism as a business strategy when dealing with the relationship between the customers and the businesses. One of the pillars is the customers/soul, which relates to the customers and their decision making. One of the benefits of the soul pillar is that, it helps the business managers understand the way customers choose one product over the other and one promotional offer over the other. This helps attract other like minded customers after understanding their underlying decision making techniques (Nextgenwebservices, 2012). The other pillar is the relationship/heart, which basically relates to the way the business and the customers interact. The benefit in this pillar is that once the business management understands how to relate to the customers, they can create clients out of customers. Having a relationship with customers ensures that the business not only gains more customers but also secures the future. Finally, there is the management/brain pillar which relates to the way all the other strategies relating to the customers are falling in place. The benefit of the management pillar is ideally the fact that it ensures smooth running of all the efforts and resources invested in the customer relations.
Relationship marketing is one of the strategies that businesses use to make sure that they interact with the customers and maintain long-standing engagements. This means that the companies establish ways in which the focus of the company leans towards the retention of the clients rather than the acquisition of more. Technology on the other end is the force behind the development of the right platforms to push internet marketing agendas of the company. There is quite a number of tools that the businesses can use with reference to the ...