Since the 1990s, the customer relationship management (CRM) concept has been embraced by the business world as a way to forge, maintain, and improve bonds with customers. Previously, many companies focused mainly on gathering consumer data for their own use. However, once businesses began to understand the value of allowing customers to dialog about their needs, they began implementing more systems that invited customer feedback.
Customer relationship management (CRM) systems are being implemented by a variety of companies looking for a competitive advantage in the global marketplace. Without customer loyalty, many companies won’t be able to thrive and grow. Today’s consumers are more demanding because they have a greater variety of choices, including doing business on the Internet and via automated phone systems. Many expect access to customer service 24 hours a day.
In a 2006 survey conducted by CRMGuru, 50% of the respondents indicate that they base their satisfaction with a company on the sum of "interactions with a brand's products, services, and people." How does your company measure up? You have an excellent product, your customer service department is highly responsive, and your personnel have received extensive training.