Is it ever OK to fire a customer? The answer is yes. Sometimes in rare cases ending a tricky business relationship is the absolute right thing to do. This concept is challenging for young companies, especially since most founders have to move heaven and earth to book and retain business. However, when a customer relationship is damaging, it may be time to part ways.
5 Reasons to Fire a Customer -- Plus 5 Steps to Take Before You Do
Customer Relationship Management (CRM): What Is It?
Customer relationship management CRM is a process in which a business or other organization administers its interactions with customers, typically using data analysis to study large amounts of information. CRM systems compile data from a range of different communication channels, including a company's website, telephone, email, live chat, marketing materials and more recently, social media. The concept of customer relationship management started in the early s, when customer satisfaction was evaluated using annual surveys or by front-line asking. In , Kate and Robert D. Kestenbaum introduced the concept of Database marketing , namely applying statistical methods to analyze and gather customer data. The trend was followed by numerous companies and independent developers trying to maximize leads' potential, including Tom Siebel , who designed the first CRM product Siebel Systems in This included embedding sales force automation or extended customer service e.
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Trades mechanization — This feature automatically supplements and interaction by both sides. In this way, it prevents duplicate efforts between businessmen and a customer. Marketing mechanization — This is the major component of CRM software. This feature automates repetitive jobs to help marketing tasks to clients at several steps in the lifecycle. Contact center automation — This feature helps the business to simplify client service procedures and reduce the extra burden of a contact center manager.
Customer relationship management is an important part of your everyday entrepreneurial job. But, it is something you will need to do in the right way. It is not only the tool or technology you can buy and solve all your problems.