Customer Relationship Management Model

Customer relationship management is a strategy of every organization which is made by the companies and the business to maintain the performance and the position of a company. These strategies helps the comapny to maintain the relationship with the customers and also help the company to make loyal customers, indirectly these strategies help the comapny to enhance the turnover and grab more market share (Wang and Feng, 2012). The strategies of CRM play a crucial role in developing and managing the performance of an organization.

According to the given case, NHM is one of the larges science centre worldwide and it is using the customer relationship management model to manage and attract the clients more towards the company. Customer relationship model is an approach that assists the comapny to manage the customers. CRM model helps a company to build and develop a good relationship with the customers.  

In this report, customer relationship management model has been analyzed. The Gartner competency model has been analyzed to identify the position and the performance of customer relationship model in an organization. Various components of CRM have also been evaluated to perform the study. Further, it has been analyzed that how a CR model could be implemented in an organization.

CRM Model:

Customer relationship management is a model which could be defined as technology, strategy and practice that is used by various organizations to develop and manage the customer data and customer interactions so that a good relationship could be managed. It also helps a company to retain the customers. Customer relationship management is a strategy of every organization which is made by the companies and the business to maintain the performance and the position of a company (Mithas, Krishnan and Fornell, 2013).

Customer relationship model is an approach that assists the comapny to manage the customers. CRM model helps a company to build and develop a good relationship with the customers.  For this report, Gartner’s competency model has been evaluated and the components of the customer relationship model have been analyzed.

Gartner competency model:

Gartner’s competency model is one of the largest and leading IT research and advisory company. Currently, around 10,000 organizations are using this technology to manage the customer relations and retention them in the business. This model has been recognized in 1979. It has been headquartered in Stamford, USA. Currently, around 7600 associates are there in the business which contains 1800 research analyze and various consultants. This comapny has its customers in around 90 countries.

Gartner’s Competency Model

Different components of the model:

The CRM framework has been presented by the comapny in 2002. This CRM framework has eight blocks. The model of CRM is as follows:

Components of the customer relationship model of Gartner’s competency model are as follows:

1. CRM vision:

It is the main vision of this CRM model to earn the loyalty of the customer and it also anticipates the need and the values of the customers. Basically, this model express that the customers could be retained and their values could be created through the product quality consistency, reliability over the products and company, flexibility, innovative services and the responsiveness towards the customer (Harrigan et al, 2015).

This model helps a comapny to manage all the above explained factors so that the company could achieve the target and the vision. It would also enrich the trust and co operation through mutual understanding and the various innovative services.

1. CRM strategy:

The main strategy of CRM model is to create and maintain a structured roadmap for the organization to manage the customers and it also prioritizes the initiatives. Basically, this model express that the companies are required to manages and identify the goals and initiatives respectively, it benchmarks the current state of a company. Further, this model determine the experience level of a customer and it baselines the goals setting.

This model helps a comapny to manage and enrich the trust and co operation through mutual understanding and the various innovative services so that the company could achieve the target (Haislip and Richardson, 2015).

1. Valued customer experience:

The next component of CRM model express that it is required for the business to ask the customers for their experience through various sources. This experience could be recognized by a comapny through a continuing process in which the product and services would be developed by the company firstly and then the promotion would be done for the products and the services. Further, the experiences of pricing and the purchase would be registered. Than the product experience could be evaluated. Further, the billing payment and the care experience must be recognized and lastly, the exit experience (Fuchs, 2007).

This model helps a comapny to manage and enrich the trust and co operation through mutual understanding and the various innovative services so that the company could achieve the target.

1. Organizational collaboration:

The next component of CRM model is to manage the various efforts of the collaboration to manage the customer’s relationship with the organization. The organizational collaboration depict that a business is required to manage the strategy, process, culture and the Information technology system in a better way and efficient manner to manage the process and the collaboration of the organization in a perfect manner which would help the comapny to achieve its target in an efficient manner (Goddard et al, 2012).

Components of Gartner’s Customer Relationship Model

This model helps a comapny to manage and enrich the trust and co operation through mutual understanding and the various innovative services so that the company could achieve the target.

1. CRM process:

The next component of CRM model is to manage the process of the customer relationship in an organization. Basically, a CRM process must start from the point where a customer enters into the store or shows some interest into your product through online or offline sources and this strategy must go on from their first point to the end. A company must analyze and verify that the customers are happy with the products or the services. The customers must also be provided some after sell services and for making them good client, a comapny is required to send them well wishes timely (Khosravifar et al, 2012).  

This model helps a comapny to manage and enrich the trust and co operation through mutual understanding and the various innovative services so that the company could achieve the target.

1. CRM information:

The next component of CRM model is to inform the customers of the organization about each change which have taken place into the company. A company is required to express the client about the value segment of the customers in the company, company must understand the needs and preferences of the customer, the target customer of the company must be classified in a perfect manner, customer responses must be monitored and the next step and the campaign must be started on the basis of that (Daniels, Radebaugh, Sullivan and Salwan, 2009).

This model helps a comapny to manage and enrich the trust and co operation through mutual understanding and the various innovative services so that the company could achieve the target.

1. CRM technology

The next component of CRM model depict about the technology which could be used by the organization to manage the good relationship with the customers. This segment depict that an organization could communicate and solve the query of its customers through various online sources (Czinkota et al, 2009). It would save the time of the client and organization both and at the same time; it would manage and enrich the trust and co operation through mutual understanding and the various innovative services so that the company could achieve the target. Information technology system could be a better way and efficient manner to manage the process and the process of retaining and attracting more customers in the organization (Khodakarami and Chan, 2014). It would help the company in a perfect manner to achieve its target in an efficient manner.

Matrices for Managing CRM Policies

This model helps a comapny to manage and enrich the trust and co operation through mutual understanding and the various innovative services so that the company could achieve the target.

1. CRM metrics:

The last component of CRM model depict about the various matrices which would help the company to manage the CRM policies in a better way. Some of the matrices which could be followed by the company are as follows:

1. Case must be closed same day
2. Service renewals % must be in favour of the customers
3. Brand image must be good
4. Average number of services must be considered
5. Average time of resolution must be taken into context
6. Services calls number are also important
7. Customer categorization must be done
8. Customer satisfaction level must be good (Khodakarami and Chan, 2014).

This model helps a comapny to manage and enrich the trust and co operation through mutual understanding and the various innovative services so that the company could achieve the target.

With the components of the Gartner’s customer relationship model, it has been found that the main aim of every CRM model is to enhance the level of the customer attraction and retention. This model helps an organization into managing and reducing the cost of customer turnover, the switching cost of the company get reduced due to the CRM model this model enhances the level of the collaboration and managing the other activities of a business. It would also assist an organization into grabbing the international market.

Various organization form the worldwide uses this technology to manage their business and enhance the level of their business. In current era, it becomes important for every business to manage and run the business in such a manner that the society gets the benefits of it and it could be possible through the CRM model (Kazim et al, 2013). On the basis of CRM model, it becomes easy for the companies to categorize the customers and mange the relationship on that basis only. Through these ways, the international market is also not a big deal for the company and the client satisfaction would also enhance.

This model is the customer oriented model, it mainly focuses over the customer relationship only. The other factors of a business could not be considered and evaluated through this model by a company (Infoentrepreneurs, 2017). A business is required to manage the strategy, process, culture and the Information technology system in a better way and efficient manner to manage the process and the objectives of the organization in a perfect manner which would help the comapny to achieve its target in an efficient manner.

 Implementation of CRM model:

CRM model could be implemented by every business through analyzing the market and evaluating their personal needs. In case of NHM, it has been found that this companies have more than 5 million visitors in a year and thus it is not easy for the comapny to manage the data of 5 million people so the company is suggested to adopt the Gartner’s competency model as these model is based over the Information technology and the data base of the customers and the visitors is saved over the cloud and it could be classified their itself so that the good communication could be set up with the customers and the best services could be offered to the customers (Cavusgil et al, 2014).

Conclusion

Identify the organizational preferences about a CRM system:

The organization is required to enhance and analyze the various issues which are associated with the operations of the business. The company must analyze the main root of that issues and then it must identify that by which policies, these issues could be overcome. Company must require the best CRM system to resolve the queries. A best CRM system could always help a company to resolve many of the associated issues and thus it is required for the business to implement the CRM system in the business (Boulding et al, 2013).

Find a suitable and good CRM vendor:  

After analyzing the point that CRM system is the best for the company for resolve the issues, the next step is to analyze and identify the vendors which offer the CRM services to the organizations. The CRM model must be chose by the company through investigating over various tools and techniques of a company and the needs f the company, the reviews of the model must also be investigated by the company to analyze and manage the practices of the business. The best CRM model would help the company to attract more customers and the retention % would also be highest (Zeynep and Toker, 2012).

Develop a budget:

After analyzing the best CRM system for the company for resolves the issues, the next step is to analyze and identify the budget for the CRM services to the organizations. The CRM model must be chose by the company according to the budget, if we talk about the NHM, than it has been found that the budget of the company could be in billions and thus the company must go for the best CRM model so that the company would be able to attract more customers and the retention % would also be highest of the company through it (Ryals, 2013).

Identify the training department:

Further, after analyzing the best budget for the company for resolve the issues, the next step is to manage and evaluate that what are the main practices which must be learnt by the businesses and how it could be learnt by the employees. What are the best departments and the employees who could handle this process in a better way and how would the performance of the CRM model be enhanced. The best strategy would help the company to attract more customers and the retention % would also be highest (Subashini and Kavitha, 2011).

Draw a blueprint:

Further, after analyzing the best employees and departments for the training purpose for resolve the issues, the next step is to develop a blue print of the works and the control over the CRM model so that the orders could be filled to the lower level management accordingly. A best CRM system could always help a company to resolve many of the associated issues and thus it is required for the business to implement the CRM system in the business.

Ensure equal participation from business and IT:

Further, after analyzing preparing the blue print of all the activities of the CRM model, the next step is to manage the collaboration among all the required fields of a business which is IT, strategy and culture (Nguyen and Mutum, 2012). A best CRM system could always help a company to resolve many of the associated issues and thus it is required for the business to implement the CRM system in the business. This collaboration would help the company to manage and maintain the best practices of the CRM model.

The granter’s competency model depict that a business must be IT friendly and must use the best of the IT practices to manage the performance and the activities of the business.

Implement the CRM system:

Further, after analyzing and managing all the steps of the CRM model, the last step is to implement the CRM model in the business. A best CRM system could always help a company to resolve many of the associated issues and thus it is required for the business to implement the CRM system in the business. This collaboration would help the company to manage and maintain the best practices of the CRM model.  

Now it is implicit that Customer relationship model is most momentous and effective approach to develop and manage the activities and the link with natural history museum’s client. It evaluates the growth and success of the higher level of the organization, NHM. It also focuses and enhances the productivity and performance of the organization. Further, it also assists the company into analyzing and identifying the future needs of an organization (Peppers and Rogers, 2016). Through the CRM model, it becomes easy for a company to meet with all the requirements easily and manage the business. Customer relationship management is a strategy of every organization which is made by the companies and the business to maintain the performance and the position of a company (Rai, 2012).

These strategies helps the comapny to maintain the relationship with the customers and also help the company to make loyal customers, indirectly these strategies help the comapny to enhance the turnover and grab more market share. The strategies of CRM play a crucial role in developing and managing the performance of an organization. The CRM model helps the NHM into managing and developing its international bean through the help of online sources and the IT (Sudhakaran and Ramu, 2014).

Basically, a CRM model is known as an “opportunity for business” model as various issues and the problems of a company could easily be reduced through this strategy. This model helps an organization into managing and reducing the cost of customer turnover, the switching cost of the company get reduced due to the CRM model this model enhances the level of the collaboration and managing the other activities of a business. It would also assist an organization into grabbing the international market. .

Conclusion:

To conclude, A best CRM system could always help a company to resolve many of the associated issues and thus it is required for the business to implement the CRM system in the business. Customer relationship management is a strategy of every organization which is made by the companies and the business to maintain the performance and the position of a company. CRM model could be implemented by every business through analyzing the market and evaluating their personal needs. The strategies of CRM play a crucial role in developing and managing the performance of an organization. On the basis of CRM model, it becomes easy for the companies to categorize the customers and mange the relationship on that basis only. Through these ways, the international market is also not a big deal for the company and the client satisfaction would also enhance.

References:

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