Customer Relationship Management and its linkages

Does the level of experience have an effect on CRM programs? Exploratory research findings [An article from: Industrial Marketing Management]Any CRM programme should be associated with the aspects of loyalty and customer satisfaction. ir?t=vishaalslair 20&l=bil&camp=213689&creative=392969&o=1&a=B000RR0B14
These two aspects point out that different customer segments/groups would be interested in different dimensions of the offerings made by the marketer. The selection of the target segment (or specific companies in a business-to-business context) is also of utmost importance. This is because profitability of a CRM programme will vary across segments (or companies). It may also be essential for a company to assess the lifetime value of a customer before formulating a CRM programme.

While loyalty and satisfaction are strongly linked to CRM programmes, the specific objective of one may have to be decided by a company before planning it. For example, reducing the cost of distribution may be the objective of a CRM programme. This may involve working out and restructuring ordering patterns, taking into consideration the consumption patterns and inventory levels at the customers end and the production systems at the manufacturers end. 
Loyalty in categories such as fast foods, soaps and confectionery could be driven through innovative CRM
Apart from loyalty and satisfaction linkages, communication is a vital aspect of any CRM programme. Communication with regard to sophisticated offerings concerning the product category, the efforts of the company/brand to keep itself updated in terms of the benefits offered, satisfied customers of a CRM programme and specific benefits of a CRM programme may help a marketer keep in touch with a prospective target segment of consumers who may like to be a part of a CRM programme.
The Referral Engine: Teaching Your Business to Market Itself
Guidelines to enable a marketer to identify specific customer groups which may be amenable to CRMir?t=vishaalslair 20&l=bil&camp=213689&creative=392969&o=1&a=1591843111
  • Business-to-business markets
  • Segmentation criteria
  • Percentage of Customer Profitability
  • Price sensitive (no frill offering)
  • Pre-sale service
  • Annual Maintenance Contract and spares
  • Willingness to try innovative products
Key Account Management and Planning: The Comprehensive Handbook for Managing Your Company's Most Important Strategic AssetA company with a CRM programme is likely to give the customer enhanced priority in terms of attention apart from cost savings over a period of time. The one-to-one marketing programme, which is generally associated with consumer products, could also be effectively applied to business-to business 20&l=bil&camp=213689&creative=392969&o=1&a=074321188X
The Key Account Management concept, in which customer teams are employed by companies (chemicals and computers may be examples), is a kind of one to-one marketing and when this concept is extended to a
company which has multiple locations (a company marketing machinery to a consumer product company in several locations) the concept becomes National Account Management programmes. Such strategies involve extensive resource allocation to teams and in-depth planning with customer on their specific needs.

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