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The importance of customer management in any organisation


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Why customer management should be integral in every organization

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The importance of customer management in any organisation

  2. 2. OBJECTIVES OF THE LECTURE  Introduce the importance of the customer  Why customer management is important in the organization  The consequence of doing so as well as not doing so  Techniques to be used
  3. 3. THE IMPORTANCE OF A CUSTOMER  Repeat business is the backbone of selling. It helps to provide revenue and certainty for the business.  Organizations are dependent upon their customers. If they do not develop customer loyalty and satisfaction, they could lose their customers.  Without customers the organization would not exist.  The purpose of the organization is to fulfill the needs of the customers.  The customer makes it possible to achieve business aims.
  4. 4. ARITHMETIC OF A CUSTOMER Research estimate is that it costs five times as much to attract new customers as it does to keep an existing one.
  5. 5. WHAT IS CUSTOMER MANAGEMENT Customer Management encompasses all the systems, processes and applications needed to manage the customer relationship.
  6. 6. IMPORTANCE OF CUSTOMER MANAGEMENT  Analysis the customer movement within the organization  It is used to capture, research and analyze information such as customer behavior, buying preferences and demographics.  able to capture customer feedback. This valuable information can and will be used by management to understand the customers reception with the product or service of the customer  Able to detect cognitive dissonance(can be defined as the uncomfortable tension or feelings that occur when we hold conflicting thoughts, attitudes or beliefs)  organizations with a successful customer management system can expect to report higher profits, growth in revenue, lower costs and stronger customer loyalty.
  7. 7. BEDROCK OF EFFECTIVE CUSTOMER MANAGEMENT The heart of customer management is the customer database. Customer Data is an extremely valuable asset of any business. Note: A business that has clean, correctly formatted and accurate data will be able to provide a good level of service as well as saving time and money. Good customer management enables companies to ensure the services they provide are inline with what the customer wants. Importantly, it can also identify further opportunities for growth
  8. 8. CASE STUDY  Rolls Royce  Luxury car  When Henry Royce was designing the first Rolls-Royce, a friend advised him to “turn out a reliable car at a low price”. But Royce had other ideas. He sought to turn out “the best motor car in the world regardless of cost”. More than 100 years later, that same desire for perfection is the driving force behind Rolls-Royce Motor Cars.
  9. 9. CASE STUDY CONTINUES  Irrespective of the times the company has kept to its tradition by remaining a luxury and this is because they have listened to their customers and acted on it. Statement from the company  This is where we build and manage our global customer relationships. Working closely with other functions, Customer Management is responsible for delivering business results for both Rolls-Royce and our customers. It's a demanding environment that requires broad business skill sets, a passion for results and an understanding of our clients.
  10. 10. QUESTION  In a level of 1 to 10, how do you rate your organization’s customer management process  What do you think can be done to make it better?  What will be your own contribution in ensuring this is achieved? Please answer and submit, thank you for listening