Customer Relationship Management in Business Title: Customer Relationship Management (CRM) in Business
Subtitle: Lesson 16
Presented by: Fatima
Contact Information: blackboarder1@gmail.com

Welcome back!

In our previous lessons, we covered
◦ business terminology
◦ professional emails and reports
◦ public speaking and presentations
◦ cross-cultural communication
◦ networking and relationship building
◦ business ethics
◦ business writing skills
◦ presentation skills
◦ negotiation skills
◦ leadership skills
◦ teamwork and collaboration
◦ business ethics and corporate social responsibility
◦ strategic planning in business
◦ and business presentations and effective communication strategies.

Today, we’ll focus on customer relationship management (CRM) in business.

Today's objectives are to:

1. Understand the importance of customer relationship management in business.

2. Learn strategies for building and maintaining customer relationships.

3. Discuss techniques for handling customer inquiries and complaints.

Customer Relationship Management is crucial in business for:

• Building long-term relationships with customers.
• Enhancing customer satisfaction and loyalty.
• Increasing revenue through repeat business and referrals.

What experiences do you have with CRM practices or customer interactions?

Components of effective CRM include:

Customer Data Management:
Collecting and analyzing customer information.

Customer Engagement:
Interacting with customers through various channels.

Relationship Building:
Developing trust and understanding with customers.

Feedback and Support:
Listening to customer feedback and providing assistance.

Retention Strategies:
Implementing programs to retain loyal customers.

Which component of CRM do you find most challenging?

Strategies for building customer relationships include:

Personalization:
Tailoring products or services to meet individual needs.

Communication:
Maintaining regular and meaningful contact with customers.

Customer Service Excellence:
Providing prompt and effective support.

Reward Programs:
Offering incentives for loyalty and referrals.

Feedback Loop:
Soliciting feedback and acting on customer suggestions.

Would you like to practice applying any of these strategies in a customer relationship scenario?

Techniques for handling customer inquiries include:

Active Listening:
Paying full attention to customer concerns.

Empathy:
Understanding and acknowledging the customer’s perspective.

Prompt Response:
Providing timely and accurate information.

Problem Resolution:
Offering solutions and alternatives.

Follow-up:
Ensuring customer satisfaction after resolving the inquiry.

How do you think effective inquiry handling can impact customer satisfaction?

Steps for managing customer complaints:

Listen:
Allow the customer to express their concerns fully.

Acknowledge:
Empathize with the customer’s situation.

Apologize:
Take responsibility and apologize sincerely.

Resolve:
Offer a solution or course of action to address the issue.

Follow-up:
Ensure the customer is satisfied with the resolution.

Have you encountered challenging customer complaints before? How did you handle them?

The importance of customer feedback and surveys:

Insight:
Gain valuable insights into customer preferences and satisfaction levels.

Improvement:
Identify areas for improvement in products or services.

Engagement:
Show customers their opinions are valued.

Measurement:
Track performance and benchmark against competitors.

How would you encourage customers to provide feedback or participate in surveys?

Technologies used in CRM:

CRM Software:
Managing customer data and interactions.

Analytics Tools:
Analyzing customer behavior and trends.

Communication Platforms:
Engaging with customers via email, social media, etc.

Feedback Systems:
Gathering and processing customer feedback.

Automation:
Streamlining processes for efficiency.

Which CRM technology do you find most beneficial for business?

Let’s analyze case studies of successful CRM implementations in business.

I’ll present scenarios where CRM strategies led to improved customer relationships and business growth.

We’ll discuss the strategies and techniques used in these cases.

Are you ready to dive into the case studies?

Let’s review what we’ve covered today.

We discussed the
◦ importance of CRM in business
◦ components of CRM
◦ strategies for building customer relationships
◦ techniques for handling customer inquiries and complaints
◦ customer feedback and surveys
◦ CRM technology
◦ analyzed case studies
◦ and explored best practices in CRM.

Do you have any questions or need any clarifications?

For your homework, please develop a CRM strategy for a business scenario of your choice.

Outline how you would implement customer relationship management practices to enhance customer satisfaction and loyalty.

We will discuss your CRM strategy in our next class.

Do you have any questions about the assignment?

In our next class, we’ll focus on business innovation and creativity.

We’ll discuss strategies for fostering innovation in business, generating creative ideas, and implementing innovation projects.

Please review today’s material and come prepared with any questions.
I look forward to seeing you next time!