The Influence of Customer Relationship Management in Business
What makes a business prosper? What keeps your costumers coming back to your business rather than going to others? How can you continue to blossom as a business owner? There are many questions to be answered in the world of business. However, there is not just one correct answer. The motives of people and their needs can be different with everyone. But there is something that every successful business must have in order to stay in competition with the rest. This is the concept of Customer Relationship Management. It is a substantially overlooked topic that has so much significance when you answer the three questions stated above. Customer Relationship Management is about exceeding the customer’s needs and wants and making them feel completely satisfied with the product or service.
If you own a business, you are most likely completely dependent on your customers and what they want. You make more money when these needs and wants are satisfied. But how do you close that gap between producer and consumer. You want to get to know every customer that comes in and interacts with you but how is that logical. There are way too many people in the world to get to know every single one. This is an even bigger problem with a franchise or a larger company because they deal with a plethora of different people from different worlds. This is where the idea of Customer Relationship Management comes in. One business order called Customer Relationship Management “Essentially a fancy management consultant way of talking about getting to know customers better and using that knowledge to serve them better.” (Trapp)
A big way to gain this knowledge is through the use of technology. Technology has become such a lifestyle in this age that it would be silly to not utilize it to benefit your business. One particular method through technology is Business Analytics Applications, this allows companies and organizations to examine their customers previous tendencies with an attempt to predict future trends. (Goodwin) This is why companies have become rapidly changing in this day and age. Back when McDonalds first opened, Basic Burgers, French Fries, and Milkshakes were the only items that were available on their menu. If you go to McDonalds now, they have more than just the basics. There menu goes as far as chicken, to soup, to fish and all different types of deserts. This is because of the future trends and wants of the customer. They have done research that the customer trusts McDonalds to serve them fast and quality food and they would be willing to try anything that they come out with. They have also instated the idea of McCafe, which is equivalent to the “Starbucks” part of McDonalds. They are trying to take the money that is out in the coffee market and bring those customers in as well. They try to make McDonalds a place where people want to hold meetings, and do homework after school instead of a fast-food chain. This has all become possible with the use of technology and business analytic applications. They have talked to the everyday customer, the occasional customer, and the rare customer, and asked them what they want from their McDonalds and they have delivered. As the economy has been tight lately they know people are watching their money and just a few days ago they have come out with a revised dollar menu to try and relate to the customers and there financial situations. Without caring about what the customer wants and trying to adjust to their needs, McDonalds would not be the most Successful Fast Food Chain in the World. They have made customer service their main goal and that is the reason why they have now expanded to 6 different continents. The name McDonalds to most people means a product you can rely on. The International locations have also made the adjustments to their customers. Instead of...
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