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CHAPTER 2

CUSTOMER RELATIONSHIP: CUSTOMER SERVICE

CUSTOMER SERVICE AND CUSTOMER-DRIVEN MARKETING

CUSTOMER RELATIONSHIP MANAGEMENT

CUSTOMER LIFETIME VALUE

SUCCESSFUL CUSTOMER RELATIONSHIP MANAGEMENT STRATEGIES

CUSTOMER SERVICE AND CUSTOMER-DRIVEN MARKETING

CUSTOMER-DRIVEN MARKETING

Customer - a person or organization that transacts with businessperson or business organization to buy goods or services for monetary or other valuable consideration

Acquiring and keeping customers- end goal of businesses because customers create demand

How do companies cope up with the varying needs and preferences of customers?

Because customers have varying needs and preferences over time, organizations must be able to offer products and services at the time when customers need them. Companies must predict customer needs.

What happens when every other businesses offer the same product or service to the same customers?

Companies outdo each other in terms of value offering. Everything must be done that the customer is kept and retained.

CUSTOMER SERVICE

  • Is the process of ensuring customer satisfaction with a product or service.
  • It involves activities designed to enhance customer satisfaction, or the perception that a product has met or exceeded expectations

Examples:

  • General Information
  • Paying Bills
  • Ask for Maintenance
  • Inquiry and Complains
  • Help Resolve Problems

CUSTOMER SERVICE PROGRAMS

Retail Establishments have realized that customers are not only drawn to stores because of their product offerings and convenient locations, but also by the superior customer services they provide.

MANAGING CURSTOMER SERVICE QUALITY

Companies can best manage customer service quality by:

  • Establishing service objectives with specific and measurable targets
  • Committing sufficient organizational resources towards the achievement of these targets
  • Reviewing target accomplishment
  • Identifying customer service weaknesses and connecting them

MANAGING CUSTOMER SERVICE DIFFERENTIATION

Physical Product Differentiation

vs.

Customer Service Differentiation

Customer-centered organizations can differentiate their customer service through:

1. The development and training of competent customer contact personnel

2. Designing and implementing a superior service delivery environment and process

Intimate knowledge and understanding of customer needs and wants

Effective customer service that can result in long-term customer loyalty

Customer Service Practices

  • Free Delivery
  • Automated in-home ordering system
  • Free gift wrapping/plastic book jacket
  • Merchandise or Document pick-up
  • Free parking and Valet parking
  • Reservations and installment plans
  • Complimentary refreshments / Waiting lounge
  • Help Desks / 24-hour customer hotline
  • Drive-through
  • Free alteration
  • Complimentary massage

CUSTOMER RELATIONSHIP MANAGEMENT

CRM - a process of managing an organizational interactions with current and future customersc

Rationale of CRM - the recognition that companies can sustain long-term profitability by attracting and maintaining the most valuabel customers

Information to acqiure:

  • customer naames
  • birthdates
  • contact numbers
  • physical and email addresses
  • birthdates
  • contact numbers
  • history and behavior

Different Strategies To Coax Customers into Sharing:

  • shopper's club
  • incentives
  • service feedback forms

Customer database information - used in customer segmentation and profiling

- includes geographical area, distance they are willing to travel

- age profiles

- occupations

Customer shopping history - used to accurately identify the type of merchandise frequently purchased, the amount spent, the preferred days for shopping, etc.

CUSTOMER LIFETIME VALUE

Customer Lifetime Value

It is the forecasted sales or profits that a company can derive from the entire span of the future relationship with a particular customer.

Implications of CVL Perspective

  • It considers a longer-term perspective of a company’s relationship with customers.
  • It calculates and compares costs of acquiring new customers (acquisition costs) and keeping old ones (retention costs)
  • It highlights the importance of market segmentation.

CVL Formula

EXAMPLES

  • An athlete spends Php2,300 for every visit to a spa and goes there twice monthly for an expected time period of 4 years.
  • Company X purchases an average of Php50,000 per month for an expected time period of 4 years.

SUCCESSFUL CUSTOMER RELATIONSHIP MANAGEMENT STRATEGIES

1. Adopt the right mindset towards customer service

-improve a company’s finances over time

-before, during, after a purchaseinnovation, pricing scheme, extra services, customer feedback mechanism, staff training

- Enhances a service or a product’s features

2. Purchase or develop CRM software

CRM (customer relationship management) is a business strategy that blends processes, people, and technology to help you attract sales prospects, convert them into customers, and keep existing customers satisfied and loyal.

The goal of CRM is to learn as much as possible about each customer's attitudes, needs, and behavior to provide them optimal service and retain the relationship. Because business success is all about customers and their needs, it's difficult for companies to achieve and maintain leadership and profitability without a sustained focus on CRM.

CRM software is a category of software that covers a broad set of applications designed to help businesses manage many of the following business processes:

  • customer data
  • customer interaction
  • access business information
  • automate sales
  • track leads
  • contracts
  • marketing
  • customer support
  • clients and contacts
  • support vendor / partner relationships
  • employees
  • knowledge and training
  • assets or resources

Top 5 CRM software ranked:

  • Salesforce.com
  • Infusionsoft
  • ProsperWorks CRM
  • Chime
  • NetSuite

3. Quantity customer aquisition and retention costs

Using CLV, the total cost acquiring or retaining a customer can be calculated and determined

4. Develop and implement a customer service training program

  • Customers are the lifeblood of any business
  • Keeping customers satisfied
  • Instill a customer-driven behavior among all employees
  • Listening skills, conflict resolution, customer needs anticipation, and empathy

5. Empower salespersons to make decisions

In any organization, the sales department plays a pivotal role in the success of the business. The unique and important role of sales is to bridge the gap between the potential customer’s needs and the products/services that the organization offers that can fulfill their needs. Here are some of the key ways in which sales impact the organization's success.

To close sales, serve customers, and strategize effectively, your salespeople need to be in the know. That includes keeping them informed about company-wide goals, giving them tools to uncover new opportunities, launching new training methodologies, and managing in a way that helps them improve their sales and service performance. Ultimately, the sales team in the know can make sales grow.

6. Establish communication lines between your customer and contact staff

Communication is essential for the CRM strategies

7. Shop your competition

-Keep track of competitors Adopt the good practices

-Keep track of competitors Adopt the good practices

8. Keep innovating customer service

Never be satisfied with the level of your service. Try to discover how the organization can make experience of customers better.

Every person in an organization is needed for customer experience innovation. That’s because customer expectations and competitive offerings are always on the rise. Your processes, policies, skills, and motivations have a lot to do with keeping customers coming back — and even more to do with customers deciding not to come back.

9. Promote genuine customer service with a passion

Customer service MUST be sincere.

MEMBERS:

  • FRANCISCO
  • TY
  • CANTILADO
  • LAZAGA
  • GODINEZ
  • YGANA
  • BACOLOT
  • MANALILI
  • AUGUSTO
  • NATAD

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Customize the Template:

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