CONTRIBUTION OF CUSTOMER RELATIONSHIP MANAGEMENT IN ENHANCEMENT OF GROWTH OF HOTEL INDUSTRY IN INDIA

Size: px
Start display at page:

Download "CONTRIBUTION OF CUSTOMER RELATIONSHIP MANAGEMENT IN ENHANCEMENT OF GROWTH OF HOTEL INDUSTRY IN INDIA"

Transcription

1 136 CONTRIBUTION OF CUSTOMER RELATIONSHIP MANAGEMENT IN ENHANCEMENT OF GROWTH OF HOTEL INDUSTRY IN INDIA Ruchi Research Scholar, C C S University, Meerut Abstract Customer Relationship Management (CRM) is the process of establishing, developing, maintaining and optimizing long-term reciprocally important relations connecting customers and organization. Best customer relationship management targets on recognizing the necessities and needs of the customers and is accomplished by the introduction of these requirements to the strength of the business by integrating them with the organization s policy, manpower, know-how and dealing processes. Foundation of a perfect CRM policy is formation of common significance for all the parties involved in the dealing process. It is about making of a maintainable competitive benefit by being the most excellent at indulgent, communication and delivery and to develop and keep current customer relationships in addition to create new customers. Accordingly the notion of product life cycle gives a way to the concept of customer life cycle stressing on the improvement of products and services that anticipate the upcoming needs of the existing customers and creating other services that strengthen existing customer relationships beyond dealings. CRM has an increasing recognition and is appropriate one of the hottest scholarly and sensible topics in the business field. Actually, due to the cutthroat competition in business environment, CRM is vital and it has turn out to be a main function for organization s performance. Though, there is inadequate research work that discloses the connection between CRM scopes and hotel performance. Therefore, this paper makes an effort to present a worthwhile conceptual model that explains the hypothetical relations existing between CRM scope and hotel performance. In a hotel, every customer s relationship has value and supposed to be handled effectively. There is a chance for repurchase and recommendations from all previous customers. The management of the information about the previous guests and the successful addition of the information into forefront guest service programs is the most important contest of CRM execution. This paper provides not only explains the connection between CRM scope and hotel performance, in addition clarify the arbitrary role of marketing competence in this relationship. Key Words: CRM; Hotel industry; customer loyalty; E-CRM.

2 137 Introduction Practice of Customer Relationship Management (CRM) is a business policy intended to cut down costs and increase profits through creation of customer loyalty. It carries together all facts relating to a customer in hotels using software to give a holistic view of a customer. With cut throat competition among hotels in India, clients are becoming more perceptive to charges and their consequent services at the same time as ignoring brand loyalty, making it necessary to put into practice a model for instance CRM. Though, an agenda for CRM execution is seriously absent in various sectors particularly in countries such as India where trade holders are fighting with issues like administrative know how, management practices, supporting skill competences and coalition of the model with the trade procedures. Therefore, accomplishment of CRM also necessitates noting underneath issues within the hotel industry. In India, execution of CRM is generally missing in the hotel industry at medium and small enterprises. This raises a thought whether CRM would work in a state which has not proved extensive implementation and has a need to take on such a model to be successful in its hotel industry. According to the Ministry of Tourism, India, development in the industry is very important to contribute towards India s foreign exchange income and encourage development. Showing the challenges in the hospitality industry i.e. the hotel business where clients visiting over again need assurance in finding lodging appropriate to their requirements, food stuff having the similar type of feel, amongst other service details. At the same time the nation is working hard to make better its tourism and hospitality industry, considerable challenges exist there in the hotel business particularly in four and five star hotels, which are moreover not existing in large numbers or fall short to meet up scaled market standards. This is noteworthy believe that India is progressively becoming a destination for people seeking to gain knowledge about India as well as for international gathering and commercial companies seeking business opportunities here. Surrounded by such a huge need for quality service, it tells inadequacy of the country if it is incapable to meet client requirements for somewhere to stay. To contest these challenges, CRM offers a possible approach that India s hotel business can use to achieve a recovery for the services offered to get better on quality and meeting customer expectations. Ever-increasing occupancy rates and income by improving client understanding is the aim of modern hotel businesses. To attain these results, hotel managers require having a deep

3 138 knowledge of customers wants, behaviour, likings and expectations and being vigilant of the ways wherein the services delivered build value for the clients and then encourage their retention and loyalty. CRM is a broad approach for creating, sustaining and expanding customer relationship. It provides sound co-ordination among customer service, marketing, information technology and additional customer associated utilities. It puts together people, procedure and technology to make best use of relationships with all the customers. It does not intend to make closer relationship with all customers, but it suggests that organizations take initiative to recognize the most valuable customers by looking for their life time value. CRM means building a mutually dependent relationship with the customer in which each relies on the other for business way outs and successes. Computers, information technology and internet have been swapping the labor intensive business proceedings across the various industries. In the existing market, companies are changing their business policies from being product-oriented to being customer-oriented. This allows organisations like banks to achieve more returns on invested capital, add more customers, and permit for huge investment opportunities by knowing their customer needs. Electronic business on the whole is using web technology to maintain business processes. Customer Relationship Management (CRM) is a tactic primarily used to optimize customer loyalty and their lifetime understanding. CRM can help companies to be successful, where not only big multinational companies, but also a lot of small companies are increasingly seeking to implement CRM consecutively to find a competitive advantage on which their business strategy may base. E-CRM can be operational, systematic or collaborative. Operational e-crm refers to customer contact points, such as telephones, fax, letters, s etc. Systematic CRM refers to the continuous collection customers data which necessitate technology. Collaborative CRM is a communication center that aims at making online communities, creating business-to-business (B2B) customer exchanges, and personalizing services. E-CRM is a blend of software, hardware and management loyalty. This leads to an enhancement of customer service, an increase in the relationship and withholding of valuable customers. An e-crm system aims to develop customer service, extend a relationship and keep valuable customers. E-CRM has been a most important concern for various organisations specially the hotel industry.

4 139 The winning execution of CRM strategy will be of immense advantage to the organizations, by adopting it, as such organizations can meet the benefit of escalating sales through better market segmentation, customizing products and services, getting superior quality products, gaining access to information and employee contentment, and above all, guaranteed lifelong customer retention and loyalty. Moreover, some researches refer to the significance of making studies on CRM scope in the hotel segment. As a result of that, it is rational to lead the conclusion that it is not only very little notice has been given to the CRM scope in the hotel business, but there is also ample opportunity to extend the literature about CRM scope and hotel performance, both in theory and empirically. Use of CRM Strategy in Hotel Industry The use of CRM policy means special things for organizations in the hotel sector. In positioning on the market, hotels require competing and developing their brand with the aim of attracting and retaining guests, and this necessitates flexibility of software capacities with the objective to respond to the requests in competitive market and varying conditions in industry. CRM for hotels puts the customer in the core of business processes, the customer who is a part of lively processes through which the company adds big competitive advantage. CRM allows competent and considerable attracting of new guests and encourages loyalty and satisfaction. Besides the fact that CRM improves satisfaction and guest retention, the most familiar benefits of CRM execution in the hotel industry are: Marketing and process incorporation in hotel business, Planning and organizing of target operations, Attracting fresh and retaining existing loyal guests, Transparent reporting, Improving effectiveness based on sales and relations marketing, Falling costs of marketing and sales, Improving dealing processes and productivity, Recording of the entire contacts with guests in any segment, Skill to define the type and segment contacts, Historical records of communications with each guest, Open access and regular exchange of information inside the organization, Competition scrutiny and entering new markets.

5 140 Short-term return on investment (ROI) is almost not measurable in money and instant benefits tie the organization for customer oriented strategy. The benefits of CRM program and ROI should not be combined. It is very significant to verify performance measures in the early phases of CRM project, or even better, before the project starts, to get a clear insight in the success of CRM project. A hotel cannot pay for costs of non-investing in CRM organism. It may save the money, however, the competition will capture the market by implementing CRM and it will get a huge competitive advantage. Therefore, CRM approach turns into an essential policy matter for the organization to continue to exist in the hotel industry. The use of CRM software for hotels has to be an important asset that facilitates adjustment of special programs, promotions and services for guests. By staying in tune with its guests, the hotel can get better understanding of their likings. The possession of information also has a great value in determining the space for specific tourist groups or individual guests. CRM tools allow aiming of specific guests or tourist groups. Demarcation between individuals permits customizable approach to marketing efforts and data and those efforts can extend beyond in a goal of correlated approach. CRM program for hotels is regularly used to gather information about guests and after that information is being used for advertising towards a definite type of guests based on the transactions and loyalty. The use of interactive reporting tools gives an insight into the hotel's function. Matching marketing materials and guest information with particular tools can make a big variation on impact that advertising material has on the guest. Long-term results of CRM execution on guest satisfaction prove that the implementation in the form of collecting information for the personalization of services, using marketing strategies directed at individual guests, improving services and help for guests and using IT to offer more services in the hotel, boosts guest satisfaction, loyalty and their retention leading to improved profitability and maximizing returns. Regardless of the fact that CRM brings permanent benefits to organizations, as a whole, some of them grow profits from executing it more than others; CRM brings benefits to the organizations that produce a lot of information about customers. Service organizations for their built-in characteristics of the production and consumption are indivisible elements essential to build relationships with customers. Accordingly, CRM will be perfectly suited to the hotel industry, particularly when implementing it effectively and successfully, taking into our account that hotels acquire a lot of data about customers. Such data can be converted into

6 141 beneficial knowledge about them. Be adequate it to say that hotel industry, like any business sector has to be very competitive to be able to excel in the business environment, therefore, it is of vital significance for it to promote behavioral patterns of permanent re-purchase and to retain customers last longer. Thus, it is apparent that such ambitious aims can only be achieved in the course of implementing CRM, which will result in creating profitable relationship between organizations and their customers. Moreover, it goes exclusive of saying that growing customer- acquisition costs, increasing customer expectations, price-sensitive tourists, more complicated clients, indecisive market and less brand loyalty are all key factors, which stoutly support hotels to focus on CRM as a practical strategy. The main aim of CRM is to identify and treat each and every client as an individual. It is very necessary for any business to know how to differentiate customer behavior according to an individual s anticipation and liking. To differentiate customer treatment, the companies make use of personalized service and tailored products which make several customers feel special and others purely appreciate good behaviour. It improves their purchase or service request or complaint redressal. Personalization and customization does imply maintaining loyalty, but also motivating higher purchases. CRM demands all aspects of interaction a company has with its client, whether it is sales or service connected. It even uses technology to make more efficient processes that impact customer fidelity, service delivery and quality administration. It has developed mainstream and is being executed in different companies and organizations such as manufacturing, financial services, consumer packaged goods, transportation and distribution, medical products and services and others. This explosive development of CRM reveals the connection of genuine market need and enabling technology. And, in this development period, the momentum for CRM is shifting from an emphasis on effectiveness, i.e., doing more things quicker with less cost, to efficiency, i.e., doing things better for improved revenue with an elevated "return on relationships. Getting closer to customers and efficiently responding to their requirements is a great way to boost up their loyalty and support deeper business relationship. The task of getting and retaining customers necessitates even better expertise and attempt. The business needs to make sure that the service works as the customer in fact wants it too, and the customers wish to do business in 'their' way, not to be forced to do it in the company s way. Most companies believe them customer-oriented and believe that as such they are servicing the customer. But ultimately, being customer oriented implies to have a reliable, faithful and convenient

7 142 communication with customers in every meet. CRM technologies focus on managing all interactions that a business has with its customers, with the intention of control the data in a variety of business functions. Where a gainful relationship already exists, CRM can specially boost better service at a lower cost. Over and above, it helps to serve customer's unspoken needs. Generally speaking, the five needs of customers are:- a. Service b. Price c. Quality d. Action and e. Appreciation. A good CRM agenda will permit a business to get customers, service the customer, add to the value of the customer to the company, retain good quality customers, and decide which customers can be hold or given a superior level of service. A good CRM program can develop customer service by facilitating communication in various ways: Increases the effectiveness of customer communication through all the channels available. Helps the association between the client and the service provider using the web, as a result reduction in the costs of customer relationship management. Makes available product information, process to use product and technical support on web sites that are open 24 X 7. Recognizes how each one person defines quality, and then aims a service strategy for every customer, based on these individual necessities and expectations. Provides a fast system for managing and scheduling report on sales calls to evaluate post-purchase cognitive difference, repurchase possibilities, repurchase period and repurchase occurrences. Provides a system to follow all points of contact between a customer and the company and does it in an incorporated way, so that all the resources and the types of contacts are integrated, and all the users of the system perceive the same observation of the customer (decreases misunderstanding). Supports to recognize probable problems promptly, before they occur.

8 143 Provides an easy to use system for registering customer grievances (grievances that are not registered with the corporation cannot be resolved, and are a main cause of customer dissatisfaction). Gives a fast mechanism for managing problems and grievances (grievances that are resolved promptly can boost customer satisfaction). Presents a quick mechanism to correct service deficits (correcting the problem sooner than other customers experience the alike dissatisfaction). Uses internet cookies to follow consumer interests and personalizes product offerings for that reason. Provides a speedy system for managing and scheduling repairs, maintenance and continuing support (develops capability and efficiency). Complaint Handling Few companies, use or give attention to grievances. Who wants to take notice of what they are doing wrong, particularly if the criticism is founded fit. It is projected that 90 percent of disappointed customers whose problems were not resolved will never do dealing with the retailers that sold them the item for consumption nor will they for a second time buy the product that caused the trouble. In case of hotels, customers/guests are more expected to change if the provided service is not suitable to their expectation. On an individual level we all know what our mistakes are, but we get protective when they are pointed out. We are moreover aware of limitations in our job performance, troubles in our organizations and deficiencies in products and services. But countering to criticism is complicated. We have a tendency to react in a defended and self-protective way, which may avoid directly tackling the actual problem. Priority Marketing Priority Marketing focuses on what is imperative to the customer. What is significant to one customer conversely, may not be as important to a different. Think of the changeable demands placed on a hotel: An airline steward may find the 24 hour room-service really important, a retired pair may need nutritional menu options, a tour merchant may demand low prices, and a young female manager considers safety a main concern. Hotels should break their services and ask customers what is vital to them. This approach can be extremely helpful in varying customer preferences.

9 144 Classifying groups of customers who have identical preferences or still similar tastes (such as sharing common opinions of quality or tastes), hotels can aim promotions to take advantage of known personalities and individualize the presentation. Success of Customer Relationship Management Considering CRM initiatives take hold and start to pay off is time and again a waiting game. It s not a turn over the knob product that automatically gives results or somewhat that will change immediately and cause profits to touch sky overnight. The mystery must be solved and time must play its part prior to proper success will be noticed. Conversely, through devoted and smart planning, industry should see noticeably increased profits, as satisfied customers will repetitively visit them. Progressively, as industry get to identify their customers, their customers get to identify them, and a closely associated affiliation is formed. This heart-to-heart relationship is the mechanism that ignites both lifetime customer fidelity and increased income. It is essential that hotels occupy their guests and stay up to date with customer perceptions of existing services. The job of perfecting the relationship between industry and customer is constantly on-going and involves special commitment and innovation as the markets repeatedly fluctuate and change. And sooner or later customers change, as does their behaviour and requirements, and business must be competent enough to act in response to that. Being on the top of the business and for all time having a hand on pulsate of the client is the key for success. As the CRM initiative starts to take hold, key players will soon see patterns appear among customers, will realize what a productive approach is and what is not. This is the spirit of a successful CRM plan; being able to know actually what will work for your clientele, what convinces them, and what makes them loyal. The skill to get an exact impression about the marketing campaigns, fresh products, and the style of policies customers will react to, is priceless. This type of customer knowledge only comes from actually mining in and being confident about how you recognize the people that you expect will always call on the services and products of your industry. The return on investment in this case would be convincing definitely.

10 145 Data Analysis Demographic Characteristics of Respondents Sex and age of respondents Out of the 18 questionnaires recovered from 20 administered (Hotels), 89% respondents were males while 11% were females. This shows that males were dominant in the hotel industry in the NCR, India than the females. This might also indicate that males are more involved in the hotel business than females. In terms of age, it was found that majority of the respondents were in the age bracket of years at the same time only few of the managers were below 30 years. More purposely, there were 61.1 percent who were between the ages of 31 to 40; whilst 33.3% were in the age group of 41 and 50 and about 5.6 percent being less than 30 years. Educational and marital status of respondents The study in addition illustrates that 83.3% of the respondents were holding a tertiary education qualification whilst the remaining 16.7% had secondary education. This suggests that the hotel managers have a bit of higher education and the possibility of being exposed to advanced courses. Years in hotel business The study gathered that more or less all the managers have had broad experience in the hotel business. From the study, most of the managers have worked in the trade for between six and ten years. The results therefore pointed out that 33.3% of the managers have worked for between 6 to 10 years. This is followed by another 27.8% who have worked for about 5 years. About 22.2% of the managers have also been in the hotel business for between 11 and 15 years whilst 16.7% have worked about 20 years in the industry. The results therefore show that most of the managers have been in the industry for relatively long periods of time hence are experienced. Knowledge and practices of Customer Relationship Management The analysis of the study revealed that 5 of the 18 respondents representing 27.8% have not listened about customer relationship management while the remaining 13 representing 72.2% have good knowledge of it. The results therefore mean that a good number of hotel managers have heard and therefore know somewhat about CRM which when they practice, they will be able to get the benefits associated thereof. Moreover, the results also highlighted the need for greater than before awareness about the concept of customer

11 146 relationship management as nearly 27.8% of them said they have not heard it before. All the 13 respondents who indicated that they are aware of the concept also revealed that they trust in it. It is said that knowing one thing is another and doing it is also another thing. When a follow up question was posed, 66.7% of the respondent said they practice CRM whilst 5.5% do not practice it therefore enquired whether the managers practiced CRM or otherwise. From the results, 12 respondents indicated that they practiced CRM whilst 1 of them did not practice it at all. As stated earlier, 27.8% who have not heard of CRM did not answer the question as they neither had heard nor believed in it. CRM Tools It came out that marketing information system is the most common CRM tool used by the managers. This is because as many as 50.0% of the respondents indicated that they used this method. The second most common CRM tool used was the database marketing which about 16.7% of the respondents used. The study sought to find out from respondents whether customers continue visiting the hotel after their first visit. The results showed that all respondents representing 100% stated that customers continue visiting the hotel after their first visit. This implies that after the first visit, customers are usually satisfied with the services provided and so are motivated to continue visiting or just for ease or proximity sake to their future activity spots they continue to visit. Conclusion & Suggestions The study pointed out that the hotel industry is loaded with the problem of nonavailability of staff, lack of qualified employees, lack of management assurance and skilled personnel to manage the hotels effectively. Even though 72.2% of the hotels have good knowledge about customer relationship management and portray that they believe in it and practice CRM, 27.8% of them still use manual forms of recording information which does not auger well for the industry. The study shows that that marketing information method and database marketing are the most common CRM tools used generally by the managers. Opposite to the anxiety of the Minister of Tourism, the study found out from respondents that customers continue visiting hotels after their first visit. The outcomes showed that all respondents representing 100% declared that customers continue visiting

12 147 hotels after their first visit. This implies that after the first visit, customers are generally satisfied with the services provided and as a result they are motivated to continue visiting. Suggestions 1. The big Hotels in NCR, India should take a bold step to save the industry from unqualified personnel. 2. The industry should make certain that persons looking for to be employed in the management of any hotel must be skilled in hotel management and get hold of the necessary qualification. 3. It is also recommended that the banking sector avail themselves to grant loan facilities to the hotels by looking at the financials within reach of the hotels together with a five year plan at the least in association with a growth plan with the aim of release moneys to them as against results recorded quarterly.

13 148 References - Hart, C.H.L., Mass customization: conceptual underpinnings, opportunities and limits. International Journal of Service Industry Management 6 (2), Payne, A. (2005). Handbook of CRM, Achieving Excellence in Customer Management. Oxford: Butterworth- Heinemann is an imprint off Elsevier Linacre House. - Sharp, D. E. (2002). Customer Relationship Management Systems Handbook. Boca Raton, FL 33487, USA: Auerbach Publications. - Sin, L.Y.M., Tse, A.C.B., Chan, H. (2006), The Effect of Relationship Marketing Orientation on Business Performance in the Hotel Industry. Journal of Hospitality and Tourism Research, 30(4), Reimann, M., Schilke, O., Thomas, J. (2010), Customer relationship management and firm performance: the mediating role of business strategy. Journal of the Academy Marketing Science, 38, Zikmund WG (2002). CRM- Integrating Marketing Strategy and Information Technology.

Customer relationship management MB-104. By Mayank Kumar Pandey Assistant Professor at Noida Institute of Engineering and Technology

Customer relationship management MB-104. By Mayank Kumar Pandey Assistant Professor at Noida Institute of Engineering and Technology Customer relationship management MB-104 By Mayank Kumar Pandey Assistant Professor at Noida Institute of Engineering and Technology University Syllabus UNIT-1 Customer Relationship Management- Introduction

More information

SYLLABUS. B.B.A. V SEM Subject Customer Relationship Management

SYLLABUS. B.B.A. V SEM Subject Customer Relationship Management SYLLABUS B.B.A. V SEM Subject Customer Relationship Management UNIT I Introduction to CRM: Definition and concepts of CRM, Components of CRM, Understanding the goal of CRM and Customer Touch Points. UNIT

More information

Customer Experience Management

Customer Experience Management Customer Experience Management Best Practices for Voice of the Customer (VoC) Programmes Jörg Höhner Senior Vice President Global Head of Automotive SPA Future Thinking The Evolution of Customer Satisfaction

More information

CRM the new business strategy in the digital age. Dr. Diana SOCA

CRM the new business strategy in the digital age. Dr. Diana SOCA CRM the new business strategy in the digital age Dr. Diana SOCA Abstract The globalization of economy and markets imposes changes in the activity of companies, including an increase in the involvement

More information

Inbound Marketing Strategies Dahlia Benaroya Dahlia Web Designs LLC 1-888-7-DAHLIA

Inbound Marketing Strategies Dahlia Benaroya Dahlia Web Designs LLC 1-888-7-DAHLIA Inbound Marketing Strategies Dahlia Benaroya Dahlia Web Designs LLC 1-888-7-DAHLIA The business world is advancing day by day, through valuable marketing and promotions. What is the procedure of this unbeaten

More information

BUILDING LIFETIME VALUE WITH SEGMENTATION

BUILDING LIFETIME VALUE WITH SEGMENTATION PRESENTS DATA DRIVEN BRAND MARKETING PART ONE YOUR DEFINITIVE GUIDE TO BUILDING LIFETIME VALUE WITH SEGMENTATION WHAT YOU D KNOW IF WE COULD TALK TO YOU Proving the Value of Marketing 1 2 3 4 5 6 SEE YOUR

More information

Status of Customer Relationship Management in India

Status of Customer Relationship Management in India Status of Customer Relationship Management in India by Dr. G. Shainesh & Ramneesh Mohan Management Development Institute Gurgaon, India Introduction Relationship marketing is emerging as the core marketing

More information

The Power of Personalizing the Customer Experience

The Power of Personalizing the Customer Experience The Power of Personalizing the Customer Experience Creating a Relevant Customer Experience from Real-Time, Cross-Channel Interaction WHITE PAPER SAS White Paper Table of Contents The Marketplace Today....1

More information

Making the Case for Service Recovery - Customer Retention

Making the Case for Service Recovery - Customer Retention Making the Case for Service Recovery - Customer Retention Service Recovery is one of the key ingredient s to good service, leading to happy customers and we all know happy customers are very good for business,

More information

ABHINAV NATIONAL MONTHLY REFEREED JOURNAL OF REASEARCH IN COMMERCE & MANAGEMENT www.abhinavjournal.com

ABHINAV NATIONAL MONTHLY REFEREED JOURNAL OF REASEARCH IN COMMERCE & MANAGEMENT www.abhinavjournal.com e-crm OPPORTUNITIES AND CHALLENGES IN DIGITAL WORLD Dr. T. N. Murty 1, N D Chandra Sekhar 2 and S Vidya Sagar 3 1 Professor & Director, Nimra College of Business Management, Vijayawada, India Email: thamminaina@yahoo.com

More information

The Sales Lead System

The Sales Lead System The Sales Lead System Contents Intro... 3 Network Marketing Ad Basics... 3 Blogging... 4 Article Marketing... 4 Video Marketing... 5 E-mail Marketing... 6 Pay Per Click... 7 Banner Ads... 8 Social Marketing...

More information

A study of application of information technology using e-crm in bank in rural area with special reference to SBI Bank, Sangamner

A study of application of information technology using e-crm in bank in rural area with special reference to SBI Bank, Sangamner Feb., 2012 Marketing management A study of application of information technology using e-crm in bank in rural area with special reference to SBI Bank, Sangamner Dr. Kirti Gulati (Ass Prof) Institute of

More information

Life Insurance is a Contract between an Insured and an insurer where

Life Insurance is a Contract between an Insured and an insurer where Importance of Customer Service in Life Insurance Life Insurance is a Contract between an Insured and an insurer where the insured agrees to pay premiums for his/her life insurance policy in due dates and

More information

Building Customer Relationships

Building Customer Relationships CHAPTER OUTLINE Spotlight: United Supermarkets LLC (http://www.unitedtexas.com) 1 What Is Customer Relationship Management? Define customer relationship management CRM broader marketing effort Focuses

More information

Impact of Customer Relationship Management of Hotel (A Case study Umaid Bhwan)

Impact of Customer Relationship Management of Hotel (A Case study Umaid Bhwan) Impact of Customer Relationship Management of Hotel (A Case study Umaid Bhwan) Dr. Tauseef Ahmad Jai Narain Vays University Department of accounting Dr. Omar A.A. Jawabreh Department of Tourism and Hotels

More information

CHAPTER 3 - CUSTOMER RELATIONSHIP MANAGEMENT (CRM)

CHAPTER 3 - CUSTOMER RELATIONSHIP MANAGEMENT (CRM) CHAPTER 3 - CUSTOMER RELATIONSHIP MANAGEMENT (CRM) 3.1 INTRODUCTION The most important purpose of any service orientated organisation is to retain customers. It is critical for any organization to keep

More information

The Banking Relationship Management Experience

The Banking Relationship Management Experience The Banking Relationship Management Experience A Strategy for Becoming a Trusted Financial Partner and Increasing Revenue and Profitability A White Paper by High Definition Banking Table of Contents I.

More information

E-CRM Practices and Customer Satisfaction in Insurance Sector

E-CRM Practices and Customer Satisfaction in Insurance Sector Abstract Research Journal of Management Sciences Res. J. Management Sci. E-CRM Practices and Customer Satisfaction in Insurance Sector Dash Biswamohan 1 and Mishra Bidhubhusan 2 Utkal University, Bhubaneswar,

More information

Customer Care for High Value Customers:

Customer Care for High Value Customers: Customer Care for High Value Customers: Key Strategies Srinivasan S.T. and Krishnan K.C. Abstract Communication Service Providers (CSPs) have started investing in emerging technologies as a result of commoditization

More information

Customer Service Best Practices Survey Results

Customer Service Best Practices Survey Results Customer Service Best Practices Survey Results Executive Summary During difficult economic times, most organizations shift their focus from acquiring new customers to retaining and growing existing customer

More information

CHAPTER VII SUMMARY OF MAJOR FINDINGS AND RECOMMENDATIONS

CHAPTER VII SUMMARY OF MAJOR FINDINGS AND RECOMMENDATIONS CHAPTER VII SUMMARY OF MAJOR FINDINGS AND RECOMMENDATIONS 395 7.1 Findings Related to Secondary Data In the initial phase the analysis of secondary indicates that CRM is emerging as a strategic factor

More information

Customer Relationship Management: A Case Study of Religare Securities Maraimalai Nagar

Customer Relationship Management: A Case Study of Religare Securities Maraimalai Nagar 65 Customer Relationship Management: A Case Study of Religare Securities Maraimalai Nagar Josephine Lalrindiki, Research Scholar, Department of Management, Mizoram University, Aizawl Dr Amit Kumar Singh,

More information

Creating Powerful Brands. Malcolm McDonald and Leslie de Chernatony. Theme of the Book

Creating Powerful Brands. Malcolm McDonald and Leslie de Chernatony. Theme of the Book Malcolm McDonald and Leslie de Chernatony Butterworth Heinemann, September 2003, 496 pages ISBN 0750659807 Theme of the Book A thorough and practical analysis of the essential elements of branding, giving

More information

Customer loyalty: how to measure it, understand it and use it. to drive business success.

Customer loyalty: how to measure it, understand it and use it. to drive business success. Customer loyalty: how to measure it, understand it and use it to drive business success. Since it is now widely recognised that it is much less costly and much more profitable to keep existing customers

More information

Customer Database. A strong foundation to build a successful organization. www.spanglobalservices.com

Customer Database. A strong foundation to build a successful organization. www.spanglobalservices.com Customer Database A strong foundation to build a successful organization Index: Introduction How to Build a Customer Database Accumulate Data In-house Deploy External Suppliers How to Manage Customer Databases

More information

LEAD NURTURING STRATEGY WHITE PAPER. November 2013

LEAD NURTURING STRATEGY WHITE PAPER. November 2013 LEAD NURTURING STRATEGY WHITE PAPER November 2013 TABLE OF CONTENTS 1. EXECUTIVE SUMMARY 2. INTRODUCTION 3. WHAT IS LEAD NURTURING? 4. OUTLINING AN EFFICIENT LEAD NURTURING STRATEGY 4.1. BUYER PERSONA

More information

Antecedents and Consequences of Consumer s Dissatisfaction of Agro-food Products and Their Complaining through Electronic Means

Antecedents and Consequences of Consumer s Dissatisfaction of Agro-food Products and Their Complaining through Electronic Means Antecedents and Consequences of Consumer s Dissatisfaction of Agro-food Products and Their Complaining through Electronic Means Costas Assimakopoulos 1 1 Department of Business Administration, Alexander

More information

Customer Relationship Management

Customer Relationship Management Customer Relationship Management The philosophy of CRM is the recognition of the fact that a long-term relationship with customers can be one of the most important assets of an organization, providing

More information

Introduction. 1.1 Customer Relationship Management (CRM) In the business environment CRM is a known concept and every

Introduction. 1.1 Customer Relationship Management (CRM) In the business environment CRM is a known concept and every 1 Introduction 1.1 Customer Relationship Management (CRM) In the business environment CRM is a known concept and every entrepreneur and executive of any organization cannot afford to ignore this aspect

More information

Module description Customer Relationship Management

Module description Customer Relationship Management Module description Customer Relationship Management 17/11/2014 page 1/6 Module code Central theme W.MSCBA_CRM01.08 This module discusses CRM as a strategic approach that is concerned with creating improved

More information

Better Sales Leads and Conversion Rates in a 360-Degree World

Better Sales Leads and Conversion Rates in a 360-Degree World Growth Services Selling Power: Better Sales Leads and Conversion Rates in a 360-Degree World Better Sales Leads and Conversion Rates in a 360-Degree World THE LEADERSHIP CHALLENGE: A WEALTH OF DATA Today,

More information

Managing Customer. Relationships

Managing Customer. Relationships Managing Customer Relationships A guide to help you identify a range of areas to address in order to get the most from your relationships with your customers Managing customer relationships should be seen

More information

CUSTOMER EXPERIENCE MANAGEMENT THE MOST IMPORTANT DIMENSION OF THE SERVICE FIRM STRATEGY

CUSTOMER EXPERIENCE MANAGEMENT THE MOST IMPORTANT DIMENSION OF THE SERVICE FIRM STRATEGY CUSTOMER EXPERIENCE MANAGEMENT THE MOST IMPORTANT DIMENSION OF THE SERVICE FIRM STRATEGY Ra iu Monica Paula Romanian-American University, Faculty of Internal and International Tourism Economy, 1B, Expozi

More information

Acquiring new customers is 6x- 7x more expensive than retaining existing customers

Acquiring new customers is 6x- 7x more expensive than retaining existing customers Automated Retention Marketing Enter ecommerce s new best friend. Retention Science offers a platform that leverages big data and machine learning algorithms to maximize customer lifetime value. We automatically

More information

Achieve Customer Loyalty with Hosted CRM Software

Achieve Customer Loyalty with Hosted CRM Software Achieve Customer Loyalty with Hosted CRM Software Salesboom.com Customer satisfaction is important to any small business and is shown through clients repeatedly coming back to you due to your service.

More information

Driving greater loyalty in Europe. What consumers want and where brands are failing to deliver

Driving greater loyalty in Europe. What consumers want and where brands are failing to deliver Driving greater loyalty in Europe What consumers want and where brands are failing to deliver Research commissioned with consumers in France, Germany and Switzerland Executive summary Fast-changing technology,

More information

THE ORGANIZER S ROLE IN DRIVING EXHIBITOR ROI A Consultative Approach

THE ORGANIZER S ROLE IN DRIVING EXHIBITOR ROI A Consultative Approach 7 Hendrickson Avenue, Red Bank, NJ 07701 800.224.3170 732.741.5704 Fax www.exhibitsurveys.com White Paper THE ORGANIZER S ROLE IN DRIVING EXHIBITOR ROI A Consultative Approach Prepared for the 2014 Exhibition

More information

SOCIAL CUSTOMER RELATIONSHIP MANAGEMENT (SCRM) IN INDIAN RETAIL INDUSTRY

SOCIAL CUSTOMER RELATIONSHIP MANAGEMENT (SCRM) IN INDIAN RETAIL INDUSTRY SOCIAL CUSTOMER RELATIONSHIP MANAGEMENT (SCRM) IN INDIAN RETAIL Dr. A.R. Annadurai* INDUSTRY Abstract: Social CRM is an advanced form of customer relationship management that uses social media services,

More information

CUSTOMER RELATIONSHIP MANAGEMENT CONCEPTS AND TECHNOLOGIES

CUSTOMER RELATIONSHIP MANAGEMENT CONCEPTS AND TECHNOLOGIES CUSTOMER RELATIONSHIP MANAGEMENT CONCEPTS AND TECHNOLOGIES Chapter 1: Introduction to CRM Selected definitions of CRM 1 CRM is an information industry term for methodologies, software, and usually Internet

More information

The Federation of Hong Kong Hotel Owners Limited PROPOSAL TO ESTABLISH A HOTEL CLASSIFICATION SYSTEM FOR HONG KONG

The Federation of Hong Kong Hotel Owners Limited PROPOSAL TO ESTABLISH A HOTEL CLASSIFICATION SYSTEM FOR HONG KONG PROPOSAL TO ESTABLISH A HOTEL CLASSIFICATION SYSTEM FOR HONG KONG INTRODUCTION Hotel owners world wide have recognized the importance and benefits of belonging to a benchmark. To remain competitive, they

More information

COMPARISONS OF CUSTOMER LOYALTY: PUBLIC & PRIVATE INSURANCE COMPANIES.

COMPARISONS OF CUSTOMER LOYALTY: PUBLIC & PRIVATE INSURANCE COMPANIES. 277 CHAPTER VI COMPARISONS OF CUSTOMER LOYALTY: PUBLIC & PRIVATE INSURANCE COMPANIES. This chapter contains a full discussion of customer loyalty comparisons between private and public insurance companies

More information

Maximizing Customer Retention: A Blueprint for Successful Contact Centers

Maximizing Customer Retention: A Blueprint for Successful Contact Centers Maximizing Customer Retention: A Blueprint for Successful Contact Centers Sponsored by Table of Contents Executive Summary...1 Creating Loyal Customers: A Critical Company Goal...1 Causes of Customer Attrition...2

More information

The Right Choice for Call Recording Call Recording for Customer Retention and Superior Service

The Right Choice for Call Recording Call Recording for Customer Retention and Superior Service Call Recording for Customer Retention and Superior Service An OAISYS White Paper Table of Contents Leveraging Superior Service in a Down Economy...1 Tracer: The Professional Interaction Management Solution...1

More information

Financial Services POINT OF VIEW CUSTOMER LOYALTY HOW TO RETAIN CLIENTS AND INFLUENCE PROFITS. AUTHOR Dieter Staib, Partner

Financial Services POINT OF VIEW CUSTOMER LOYALTY HOW TO RETAIN CLIENTS AND INFLUENCE PROFITS. AUTHOR Dieter Staib, Partner Financial Services POINT OF VIEW CUSTOMER LOYALTY HOW TO RETAIN CLIENTS AND INFLUENCE PROFITS AUTHOR Dieter Staib, Partner 1. Introduction In recent years customer retention has been a low priority for

More information

Where s my real ROI? White Paper #1 February 2014. expert Services

Where s my real ROI? White Paper #1 February 2014. expert Services Where s my real ROI? White Paper #1 February 2014 expert Services revenue costs The growing confidence of advertisers and agencies in mobile marketing requires an effective and veridical sort of ROI metrics.

More information

E-Customer Relationship Management in the Clothing Retail Shops in Zimbabwe

E-Customer Relationship Management in the Clothing Retail Shops in Zimbabwe IJMBS Vo l. 3, Is s u e 1, Ja n - Ma r c h 2013 ISSN : 2230-9519 (Online) ISSN : 2230-2463 (Print) E-Customer Relationship Management in the Clothing Retail Shops in Zimbabwe 1 Muchaneta Enipha Muruko,

More information

Service Operations Management: Improving Service Delivery 3 rd Edition. Robert Johnston and Graham Clark. FT Prentice Hall 2008

Service Operations Management: Improving Service Delivery 3 rd Edition. Robert Johnston and Graham Clark. FT Prentice Hall 2008 : Improving Service Delivery 3 rd Edition Robert Johnston and Graham Clark FT Prentice Hall 2008 ISBN: 1405847328, 552 pages Theme of the Book The focus of the book is service delivery and the objective

More information

Hotel Marketing Automation

Hotel Marketing Automation Hotel Marketing Automation By Shayne Paddock June 2013 Introduction Hotel Marketing Automation is technology that helps hoteliers reduce costs and optimize their limited resources by introducing automated

More information

A Management Report. Prepared by:

A Management Report. Prepared by: A Management Report 7 STEPS to INCREASE the RETURN on YOUR BUSINESS DEVELOPMENT INVESTMENT & INCREASE REVENUES THROUGH IMPROVED ANALYSIS and SALES MANAGEMENT Prepared by: 2014 Integrated Management Services

More information

Brand Loyalty in Insurance Companies

Brand Loyalty in Insurance Companies Journal of Economic Development, Management, IT, Finance and Marketing, 4(1), 12-26, March 2012 12 Brand Loyalty in Insurance Companies Sancharan Roy, (B.E., MBA) Assistant Professor, St. Joseph's College

More information

Loyalty to service provision: creating loyalty through the customer experience

Loyalty to service provision: creating loyalty through the customer experience Loyalty to service provision: creating loyalty through the customer experience WWW.SBS.OXFORD.EDU EDUCATING LEADERS FOR 800 YEARS Dr Richard Cuthbertson Research Director Oxford Institute of Retail Management

More information

Continuous Customer Dialogues

Continuous Customer Dialogues Continuous Customer Dialogues STRATEGIES FOR GROWTH AND LOYALTY IN MULTI-CHANNEL CUSTOMER-ORIENTED ORGANIZATIONS whitepaper TABLE OF CONTENTS: PAGE Overview...3 The Continuous Customer Dialogue Vision...4

More information

"SEO vs. PPC The Final Round"

SEO vs. PPC The Final Round "SEO vs. PPC The Final Round" A Research Study by Engine Ready, Inc. Examining The Role Traffic Source Plays in Visitor Purchase Behavior January 2008 Table of Contents Introduction 3 Definitions 4 Methodology

More information

Successful Steps and Simple Ideas to Maximise your Direct Marketing Return On Investment

Successful Steps and Simple Ideas to Maximise your Direct Marketing Return On Investment Successful Steps and Simple Ideas to Maximise your Direct Marketing Return On Investment By German Sacristan, X1 Head of Marketing and Customer Experience, UK and author of The Digital & Direct Marketing

More information

CRM TECHNOLOGY IN HOTEL INDUSTRY

CRM TECHNOLOGY IN HOTEL INDUSTRY I n t e r n a t i o n a l J o u r n a l o f M a n a g e m e n t F o c u s 1 CRM TECHNOLOGY IN HOTEL INDUSTRY C. ARUL Ph.d.,Research Scholar in Commerce, Head of the Department, Modern Arts College, Jayamkondam

More information

Creating the customer experience

Creating the customer experience Creating the customer experience INSIGHT. EXECUTION. ADVANTAGE. Customer experience outsourcing that transforms business performance 3 Your customer management future 5 The Webhelp difference 8 Services

More information

Powering Performance with Customer Intelligence. Are you ready to make Customer Intelligence your performance advantage to outpace the competition?

Powering Performance with Customer Intelligence. Are you ready to make Customer Intelligence your performance advantage to outpace the competition? Powering Performance with Customer Intelligence Are you ready to make Customer Intelligence your performance advantage to outpace the competition? Frequently Asked Questions (FAQs) PNT Marketing Services

More information

5Ways. to Put Your CRM Data to Work. for You and Your Customers

5Ways. to Put Your CRM Data to Work. for You and Your Customers 5Ways to Put Your CRM Data to Work for You and Your Customers Customer Relationship Management (CRM) solutions are becoming increasingly prevalent in today s organizations to collect and manage information

More information

IJRFM Volume 2, Issue 11 (December 2012) (ISSN ) INDIAN CONSUMER DEMEANOR FOR LIFE INSURANCE ABSTRACT

IJRFM Volume 2, Issue 11 (December 2012) (ISSN ) INDIAN CONSUMER DEMEANOR FOR LIFE INSURANCE ABSTRACT INDIAN CONSUMER DEMEANOR FOR LIFE INSURANCE Dr. Vipul Jain* Bhawna Saini** ABSTRACT Consumer Demeanor is the study of when, why, how, and where people do or do not buy a products/services. It blends elements

More information

A STUDY ON FACTORS AFFECTING CUSTOMERS INVESTMENT TOWARDS LIFE INSURANCE POLICIES

A STUDY ON FACTORS AFFECTING CUSTOMERS INVESTMENT TOWARDS LIFE INSURANCE POLICIES 106 A STUDY ON FACTORS AFFECTING CUSTOMERS INVESTMENT TOWARDS LIFE INSURANCE POLICIES ABSTRACT MS. BABITA YADAV*; DR. ANSHUJA TIWARI** *Research Scholar, Faculty of Commerce, R.D.V.V, Jabalpur. **Assistant

More information

Top 10 Hotel Wi-Fi Features

Top 10 Hotel Wi-Fi Features Top 10 Hotel Wi-Fi Features A hotel internet gateway differs from a standard business internet gateway due to the variety of Internet access options needed throughout a hotel. A standard business internet

More information

Developing and Validating Customer Relationship Management (CRM) Practices Construct

Developing and Validating Customer Relationship Management (CRM) Practices Construct International Journal of Business and Behavioral Sciences Vol., No.; January 0 Developing and Validating Customer Relationship Management (CRM) Practices Construct Zuliana Zulkifli, *Izah Mohd Tahir Faculty

More information

Study into the Sales of Add-on General Insurance Products

Study into the Sales of Add-on General Insurance Products Study into the Sales of Add-on General Insurance Quantitative Consumer Research Report Prepared For: Financial Conduct Authority (FCA) March, 2014 Authorised Contact Persons Frances Green Research Director

More information

Chapter 1: Strategic Customer Relationship Management Today

Chapter 1: Strategic Customer Relationship Management Today Chapter 1: Strategic Customer Relationship Management Today Overview Topics discussed: From the marketing to the customer concept CRM and customer value The concept of CRM CRM from a business strategy

More information

CUSTOMER RELATIONSHIP MANAGEMENT AND DATA WAREHOUSING

CUSTOMER RELATIONSHIP MANAGEMENT AND DATA WAREHOUSING 03-03-10 INFORMATION MANAGEMENT: STRATEGY, SYSTEMS, AND TECHNOLOGIES CUSTOMER RELATIONSHIP MANAGEMENT AND DATA WAREHOUSING Duane E. Sharp INSIDE The CRM Solution; Customer Feedback; Defining the Customer;

More information

RETAIL BANKING HOW TO IMPROVE CUSTOMER EXPERIENCE AND ADDRESS OMNI-CHANNEL CHALLENGES USING CUSTOMER FLOW MANAGEMENT METHODOLOGIES A QMATIC WHITEPAPER

RETAIL BANKING HOW TO IMPROVE CUSTOMER EXPERIENCE AND ADDRESS OMNI-CHANNEL CHALLENGES USING CUSTOMER FLOW MANAGEMENT METHODOLOGIES A QMATIC WHITEPAPER RETAIL BANKING HOW TO IMPROVE CUSTOMER EXPERIENCE AND ADDRESS OMNI-CHANNEL CHALLENGES USING CUSTOMER FLOW MANAGEMENT METHODOLOGIES A QMATIC WHITEPAPER 2013 Q-MATIC AB. All rights reserved. Version 1.0

More information

Strategies for Success with Online Customer Support

Strategies for Success with Online Customer Support 1 Strategies for Success with Online Customer Support Keynote Research Report Keynote Systems, Inc. 777 Mariners Island Blvd. San Mateo, CA 94404 Main Tel: 1-800-KEYNOTE Main Fax: 650-403-5500 product-info@keynote.com

More information

Influence of Company s Website on CRM

Influence of Company s Website on CRM Saimaa University of Applied Sciences Faculty of Business Administration, Lappeenranta Degree Programme in International Business Anastasia Adamova Influence of Company s Website on CRM Thesis 2014 Abstract

More information

Developing a Marketing Plan. Develop a strategic marketing plan to successfully grow your business and increase profits

Developing a Marketing Plan. Develop a strategic marketing plan to successfully grow your business and increase profits Developing a Marketing Plan Develop a strategic marketing plan to successfully grow your business and increase profits Learning Objectives At the end of this module, you will be able to: Understand the

More information

ARCHITECTURE IN TOURISM

ARCHITECTURE IN TOURISM BUNDESMINISTERIUM FÜR WIRTSCHAFT UND ARBEIT BUNDESMINISTER IUM FÜR WIRTSCHAFT UND ARBEIT BUNDESMINISTERIUM FÜR WIRTSCH AFT UND ARBEIT BUNDESMINISTERIUM FÜR WIRTS CHAFT UNDARB EIT NDESMI NISTERIUM FÜR WIRTSCHAFT

More information

A Beginner's Guide to E-Commerce Personalization

A Beginner's Guide to E-Commerce Personalization A Beginner's Guide to E-Commerce Personalization CommerceSciences.com Contents Introduction... 1 Real-Time Offers & Website Personalization... 3 Creative Messaging That Really Matters... 5 Drawing Your

More information

Retargeting is the New Lead Nurturing: 6 Simple Ways to Increase Online Conversions through Display Advertising

Retargeting is the New Lead Nurturing: 6 Simple Ways to Increase Online Conversions through Display Advertising Retargeting is the New Lead Nurturing: 6 Simple Ways to Increase Online Conversions through Display Advertising 565 Commercial Street, San Francisco, CA 94111 866.497.5505 www.bizo.com Follow us on Twitter:

More information

CUSTOMER RELATIONSHIP MANAGEMENT OF SELECT LIFE INSURANCE COMPANIES

CUSTOMER RELATIONSHIP MANAGEMENT OF SELECT LIFE INSURANCE COMPANIES I n t e r n a t i o n a l J o u r n a l o f M a n a g e m e n t F o c u s 1 CUSTOMER RELATIONSHIP MANAGEMENT OF SELECT LIFE INSURANCE COMPANIES G. RAJU Asst. Professor of Business Administration, St. Thomas

More information

Omnichannel Strategy Adoption At Tipping Point, Marketers Share Action Plans

Omnichannel Strategy Adoption At Tipping Point, Marketers Share Action Plans Omnichannel Strategy Adoption At Tipping Point, Marketers Share Action Plans By Karlene Lukovitz Industry Report by Exclusive Sponsor Introduction Marketers are keenly aware of the tremendous potential

More information

How the Spa can Increase CustomerEngagement

How the Spa can Increase CustomerEngagement How the Spa can Increase CustomerEngagement As the hospitality industry evolves in a dramatically changed landscape, the goals are ultimate customer engagement and relationships across all channels. This

More information

Contents. Part- I: Introduction to Services Marketing. Chapter 1 Understanding Services 3-22. Chapter 2 The Nature of Services Marketing 23-38

Contents. Part- I: Introduction to Services Marketing. Chapter 1 Understanding Services 3-22. Chapter 2 The Nature of Services Marketing 23-38 Contents Part- I: Introduction to Services Marketing Chapter 1 Understanding Services 3-22 Chapter 2 The Nature of Services Marketing 23-38 Part- II: The Customer Experience Chapter 3 Consumer Behavior

More information

Four distribution strategies for extending ERP to boost business performance

Four distribution strategies for extending ERP to boost business performance Infor ERP Four distribution strategies for extending ERP to boost business performance How to evaluate your best options to fit today s market pressures Table of contents Executive summary... 3 Distribution

More information

1 Compiled by: Deep Banerjee, Marketingpundit.com (Market Segmentation)

1 Compiled by: Deep Banerjee, Marketingpundit.com (Market Segmentation) MARKET SEGMENTATION (Compiled by Deep Banerjee, Marketingpundit.com) Definition : The division of a market into different homogenous groups of consumers is known as Market Segmentation. Market segmentation

More information

A STUDY ON CUSTOMER RELATIONSHIP MANAGEMENT PRACTICES IN BANKING SECTOR IN INDIA

A STUDY ON CUSTOMER RELATIONSHIP MANAGEMENT PRACTICES IN BANKING SECTOR IN INDIA Volume 4, Issue 5 (May, 2015) Online ISSN-2277-1166 Published by: Abhinav Publication Abhinav National Monthly Refereed Journal of Research in A STUDY ON CUSTOMER RELATIONSHIP MANAGEMENT PRACTICES IN BANKING

More information

Profile of Cedar solutions

Profile of Cedar solutions Profile of Cedar solutions About us Cedar solutions, a web based software and creative services provider located in Kochi, India, has enviably marked its presence in the web development and designing arena.

More information

Celebrus for Telecommunications: Deepening customer intelligence with individual-level digital data

Celebrus for Telecommunications: Deepening customer intelligence with individual-level digital data SECTOR SOLUTIONS Celebrus for Telecommunications: Deepening customer intelligence with individual-level digital data p1 Introduction Today s Telecommunications sector is highly dynamic. Firstly the very

More information

The Customer Experience:

The Customer Experience: The Customer Experience: The Holy Grail of Competitive Advantage. 1 A great customer experience has emerged as the holy grail of competitive advantage. Providing a great customer experience has emerged

More information

Customer Relationship Management

Customer Relationship Management IBM Global Business Services CRM Customer Relationship Management Solutions from IBM Global Business Services Do you really know your customers? How do they like to interact with you? How do they use your

More information

What this topic is about. The purpose of marketing Different approaches to marketing Segmentation Niche &mass markets B2C & B2B marketing

What this topic is about. The purpose of marketing Different approaches to marketing Segmentation Niche &mass markets B2C & B2B marketing Effective Marketing What this topic is about The purpose of marketing Different approaches to marketing Segmentation Niche &mass markets B2C & B2B marketing What is Marketing? The process of identifying,

More information

Measuring the Effectiveness of Your Content Marketing

Measuring the Effectiveness of Your Content Marketing Measuring the Effectiveness of Your Content Marketing 1 Measuring the Effectiveness of Your Content Marketing A 5-Step Process to Prove Value and Grow Your Business Measuring the Effectiveness of Your

More information

ISSN: 2321-7782 (Online) Volume 3, Issue 7, July 2015 International Journal of Advance Research in Computer Science and Management Studies

ISSN: 2321-7782 (Online) Volume 3, Issue 7, July 2015 International Journal of Advance Research in Computer Science and Management Studies ISSN: 2321-7782 (Online) Volume 3, Issue 7, July 2015 International Journal of Advance Research in Computer Science and Management Studies Research Article / Survey Paper / Case Study Available online

More information

Effectiveness of Customer Relationship Management Programs

Effectiveness of Customer Relationship Management Programs Evgeni Stanimirov * Summary: Customer relationship management (CRM) has been among the most widely debated topics in the field of marketing during the last decade. Regardless of the significant interest

More information

Mercedes-Benz: Implementing a CRM Programme

Mercedes-Benz: Implementing a CRM Programme Organizing for CRM implementation 391 Case 7.2 Mercedes-Benz: Implementing a CRM Programme The Company Mercedes-Benz is one of the world s most successful premium brands. Its technical perfection, innovative

More information

Customer Experience - what s it all about?

Customer Experience - what s it all about? Customer Experience - what s it all about? The Capgemini Consulting guide Page 1 Page 2 Customer Experience is a concept that many people talk about but far fewer understand or know how to address. This

More information

Online Customer Experience

Online Customer Experience Online Customer Experience What is the experience and how is it difference for frequent and infrequent purchasers, age cohorts and gender groups? Prepared by Jillian Martin and Gary Mortimer for Coles

More information

The cross-channel insight imperative

The cross-channel insight imperative The cross-channel insight imperative Why today s hyper-connected consumer means having a crosschannel consumer classification is more important than ever. An Experian Marketing Services white paper A changing

More information

BEST PRACTICE GUIDE. Six Top Tactics for Marketing your Local Business

BEST PRACTICE GUIDE. Six Top Tactics for Marketing your Local Business BEST PRACTICE GUIDE Six Top Tactics for Marketing your Local Business THE SIX TOP TACTICS FOR MARKETING YOUR LOCAL BUSINESS The ability to implement effective marketing is what differentiates thriving

More information

Conducting an effective Customer Satisfaction Program - Your guide to feedback management ... Vivek Bhaskaran CEO and Co-Founder, Survey Analytics

Conducting an effective Customer Satisfaction Program - Your guide to feedback management ... Vivek Bhaskaran CEO and Co-Founder, Survey Analytics Conducting an effective Customer Satisfaction Program... Vivek Bhaskaran CEO and Co-Founder, Survey Analytics th Survey Analytics LLC 24206 SE 36 PL Issaquah WA 98029 206-686-7070 Businesses today realize

More information

5IMPROVE OUTBOUND WAYS TO SALES PERFORMANCE: Best practices to increase your pipeline

5IMPROVE OUTBOUND WAYS TO SALES PERFORMANCE: Best practices to increase your pipeline WAYS TO 5IMPROVE OUTBOUND SALES PERFORMANCE: Best practices to increase your pipeline table of contents Intro: A New Way of Playing the Numbers Game One: Find the decision maker all of them Two: Get ahead

More information

RELATIONSHIP MARKETING IN TRAVEL AND TOURISM INDUSTRY CHAPTER12

RELATIONSHIP MARKETING IN TRAVEL AND TOURISM INDUSTRY CHAPTER12 RELATIONSHIP MARKETING IN TRAVEL AND TOURISM INDUSTRY CHAPTER12 Structure Introduction Importance of relationship marketing in travel and tourism Relationship Marketing strategies in travel and tourism

More information

CHAPTER-VIII FINDINGS AND SUGGESTIONS

CHAPTER-VIII FINDINGS AND SUGGESTIONS CHAPTER-VIII FINDINGS AND SUGGESTIONS The present study has brought some novel contributions towards the knowledge of online shopping and found the reasons for the shift in buying behavior from the traditional

More information

COMPLAINT HANDLING. Principles of Good Complaint Handling

COMPLAINT HANDLING. Principles of Good Complaint Handling COMPLAINT HANDLING Principles of Good Complaint Handling Promoting good complaint handling is a key part of your work if you receive complaints from time to time. Good complaint handling can turn aggrieved

More information

Driving Profits from Loyalty

Driving Profits from Loyalty Driving Profits from Loyalty Overview 1 P a g e 5 Steps to Driving Profit from Loyalty 1. Customer Portfolio Analysis This is the first step on the road to customer profitability where we can begin to

More information

Getting Behind The Customer Experience Wheel

Getting Behind The Customer Experience Wheel Getting Behind The Customer Experience Wheel Create a Voice of the Customer Program for your Organization In any business, serving your customers well is critical to success, loyalty and growth. But do

More information