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We are in a world where social media as marketing tool has taken center stage in how

businesses are communicating with, and reaching out to, their potential and established client
base.

Customer Relationship Management (CRM) is a strategy which is customized by an organization to


manage and administrate its customers in an efficient manner for achieving excellence in business. It
is entangled with features like: Customer Needs, Customers Response, Customer Satisfaction,
Customer Loyalty, Customer Retention, Customer Complaints, and Customer Service

CRM is to create a competitive advantage by being the best at understanding, communicating,


delivering, and developing existing customer relationships, in addition to creating and keeping new
customers. Change begins with knowledge.

The online booking company Nou Deal implements sophisticated ways of measuring this complex
and diverse field. Technology will continue to drive these new measurement approaches.

Relationship marketing is a facet of customer relationship management (CRM) that focuses on


customer loyalty and long-term customer engagement.
In CRM the alphabet ‘R’ means relationship. This relationship between service provider and
customer is not a personal relationship or a one-time transaction relationship. Relationship
with customers can change from time to time because it is evolved under distinguished
situations. Following are the stages from where the relationship with customers can evolve:

 Exploration- Exploration is the process when customer investigates or tests the


supplier’s capabilities and performance or cross verifies the service usefulness. If the
test results fail to satisfy customer’s demands, the relationship can drastically come to
an end.
 Awareness- Awareness is the process when the customer understands the
motivational values of the service.
 Expansion- Expansion is the process when the service provider wins customer’s faith
and customer falls under huge interdependence of the provider. This is time when
there are more chances of business with that particular customer and expand business.
 Commitment- Commitment is a powerful stage when service provider learn to
adapting business rules and goal to excel.
 Dissolution- Dissolution is a stage when customer requirement suddenly changes and
he looks for better perspectives. This sudden change is the end of relationship.

Relationship can come to an end due to many reasons like - customer is not satisfied with the
services or customer diverges to competitors. Service providers can also prefer to break
relationships due to customer failing to be a part to increase sales volume or when the
providers are entangled with fraud cases. However, there can be two distinguished
attributes of a developed relationship between provider and customer:

1. Trust: Trust means confidence and security in any relationship and can be treated as
the biggest investment in building long term relationships. Trust is developed between
the two parties when they experience flawless and satisfied motives between each
other. As a result of knowing more about each other, all the doubts and risks are
minimized and leads to inevitably smooth business. Lack of trust on the other hand
weakens the relationship foundation and chances of uncertainty and conflicts
increases.
2. Commitment: Commitment is yet another milestone that should be achieved to set a
long term mutual relationship. Commitment can only be attained when there is mutual
trust and the two parties share each other’s values. In a committed relationship both
service provider and customers strive to uphold the relationship and never want to exit
which in turn results in building the relationship stronger and sharper.

There is lot of involvement of cost, efforts and time in striving developed relationships
between the two parties but the outcome is always inevitable.

Nou Deal is fully indulged in CRM uses it to leverage and amplify customer base of its organisation
through efficacious and efficient marketing. In fact CRM has brought up new dimensions in the field
of marketing by significantly improving marketing functioning and execution.
Nou Deal use direct marketing, web marketing and e-mail marketing strategies to help delivering
higher-up performance and walloping business.

A CRM system provides a platform to analyze the customers buying behaviour online. This
interactive strategy provides great accuracy with high speed which includes profiling services
furnishing elaborated bits of information regarding customers purchasing habits or behaviour.
Individualized analysis of this behaviour also helps to identify where the customers are more tended.

Nou Deal analyze the customers buying behavior by using an in-house service with the help of a full-
fledged CRM that checks what all services are being purchased by a particular customer and under
which specific group they fall. This is achieved by personalized analyzing the buying history of
customers in the past which predicts the future business with those customers also. This
accomplishes to build a long-term relationship with customers by properly canvassing customer
needs and resulting in customer satisfaction. Analyzing this particular buying behavior of customers
online also helps to fix or change of marketing techniques or strategies to mould the system
according to the future perspectives.

Nou Deal keeps on keeps on changing marketing strategies according to the emotional behavioural
change of customers. CRM market forecasting techniques help to understand this change through
regression and statistical analysis of customer behaviour online. Also, this helps to boost sales and
outturn astonishing rewards.
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CRM - https://examupdates.in/customer-relationship-management/