CRM - Customer Relationship Management

CRM: Applying CRM principles

The key to CRM is to build on the 'relationship' angle and to focus on both receiving and delivering value.

Information about your customers can be analysed to answer the question 'why' do customers buy, as well as 'what' do they buy.

• Understand what motivates your customers - what do customers want? What do they value? How do they want to interact with your business?
• Customise services and products - what do customers want to buy? Product development should be driven by customer needs.
• Deliver good service - you may interact with your customers online, in person or over the 'phone. You may be selling, delivering or providing customer service. Gear your message and the medium accordingly and offer a quick response.
• Make it easy and useful - customer service initiatives must be easy to use and offer real benefits such as self care or customized pricing.
• Prioritise profitability - the more you learn about your customers, the easier it is to pinpoint your most profitable realationships. Focus on these and you prioritise the most valuable parts of your business.