The online ability to keep track of product or service activities allows schedulers to be more accurate and timely in scheduling and rescheduling production activity, reducing costs. Better supplier quality The information driven environment in e-commerce allows purchasers to more easily learn about material and component quality in the items manufacturers acquire. Successful strategies to keep customers Every part of the company’s marketing effort should be geared towards building life time relationships. People want to do business with friendly people.
To have effective relations a friendly attitude must permeate in the organization. Information technology developments should be positively used to serve the customers. The company should always be flexible to bend its rules and procedures in the client’s favor. The company should communicate with its customers even when it is not trying to sell something. The company should try to know all its customers including their life styles, hobbies, likes and dislikes etc. The company can communicate and develop stronger customer bonding by providing financial and social benefits.
The company should make it a point to deliver more than what is promised. Recommendations / Best Practices To develop closer relationship with the customers and turn them into loyal ones, the firm may consider the following suggestions. Define clearly the company needs and objectives. Define customers clearly with a deep understanding of their needs. Define explicit priorities for access to customer database. Establish call centers which help in automating the operations of calls generated between a firm and its customers, to build long term strategic relationships with them.
Personalizing transforms a standard product or service into a specialized solution for an individual. Use technology as the rapid growth of internet based techniques have provided techniques where companies are establishing one to one customer relationship online. The same set of customers will not be targeted frequently, and interested customers will not be ignored. Implement the CRM approach as strategic solution that delivers real value to the business. Quality as a key to e-commerce success
The open economy introduced by globalization demands the need for continuous product innovation and improvement on par with global standards and offer world-class products localized to customer needs. Global enterprises have to emphasize on Improving their supplier quality and supply chain process management. The philosophy of TQM in this new age of global economy should focus on “how best organizations can meet their global customers’ expectations in the most responsive and efficient ways”.
Many companies have turned to information technology in their quest for improved quality and incorporating end to end product and process management solutions enabled by information technology is the key to redefining TQM as the new age TQM for global economy. Conclusion The main objective of CRM is building long-term, sustaining relations with customers by delivering superior customer value and satisfaction. Instead of trying to maximize profits from each and every transaction. CRM focuses on maximizing profits over the lifetime value of customers.
Undoubtedly, CRM is a potent tool in sustaining and boosting sales in this era of hypercompetitive world. But, one should not consider CRM as panacea for all the marketing ills as it has its own limitations.
Jeffrey Gitomer G. , Customer Satisfaction is Worthless: Customer Loyalty is Priceless: Austin: TX Bard Press, 1998 Michael Skapinker, “Wanted Customers Who Know What They Want” The Strategist, Business Standard, Aug 26 2003 p. 2. D. Chaffey, (2002) E-business and e-commerce management, Financial Times / Prentice Hall, Harlow, UK Anne Nelson, H. M, Nelson, Building Electronic Commerce (2002), Addison Wesley.