Business And Financial

Business research shows the strong correlation between financial performance and how the manager of a company to effectively interact with customers. Therefore, the company continues to seek ways to boost relations with customers through customer relationship management (CRM).

Sam Walton founder of Wal-Mart once said, “There is only one boss, the customer.” And he can fire everybody in the enterprise from commissioners to the lowest employee with a very simple way – simply spend their money elsewhere.

In the last few years, there is more and more visible truth of this statement. Large and small companies are trying to increase market share, increase profits, and become more competitive in gaining customers.

Companies’ interest in developing CRM improved dramatically, where companies seek ways to improve the relationship with their most loyal customers and valuable, and also developed an innovative method in a potential new customer wins.

This is encouraged by many business researches that show a strong correlation between the financial performances of a company’s managers how to effectively interact with customers. In addition, the company realized that the cost to get new customers will be more expensive than the costs to the customer’s spend to retain existing ones.

Although many CRM activities that show real benefits to the company, this is obscured because of the disappointments and hopes of many companies that are not achieved. Research conducted by META Group and Gartner show that 75% of CRM activity failed to achieve its objectives.

According to eMarketer, the proportion of expenditure for several large companies CRM 1% of total sales and the growing proportion of IT budgets.

In the telecommunications sector in Indonesia, the decline in average revenue per unit (ARPU) and high customer turnover leads to CRM has become very important, in the banking sector too. With privatization, we will always see the greater competition for customers. In order to remove the investment in CRM implementation is not in vain, then there are a few tips as follows:
1. Do the approaches from the perspective of the customer
2. Perform a broad approach with a specific approach
3. CRM is not just IT
4. Start with small initiatives, and learn by doing