Customer Relation management
Customer Relationship Management (CRM) is developing into a major element of corporate strategy for many organizations. CRM, also known by other terms such as relationship marketing and customer management, is concerned with the creation, development and enhancement of individualized customer relationships with carefully targeted customers and customer groups which results in maximizing their total customer life-time value.
Industry leaders are now addressing how to transform their approach to customer management. Narrow, functionally-based traditional marketing is being replaced by a new form of cross-functional marketing – CRM and the traditional approach to marketing has been increasingly questioned in recent years. This approach emphasized management of the key marketing mix elements such as product, price, promotion and place within the functional context of the marketing department.
This two day Customer Relationship Management training course examines the new CRM approach and whilst recognizing these key elements still need to be addressed it reflects the need to create an integrated cross-functional focus – one that emphasizes retaining as well as winning customers; thus, the focus is shifting from customer acquisition to customer retention and towards ensuring appropriate amounts of time, money and managerial resources are directed at both of these key tasks. The new CRM paradigm reflects a change from a traditional sales approach to what is now being described as ‘customer management’.