CRM (Customer Relationship Management) is an information industry term for methodologies, software, and usually Internet capabilities that help an enterprise manage customer relationships in an organized way. For example, an enterprise might build a database about its customers that described relationships in sufficient detail so that management, salespeople, people providing service, and perhaps the customer directly could access information, match customer needs with product plans and offerings, remind customers of service requirements, know what other products a customer had purchased, and so forth. (Eric Williams, 2006).
The CRM system track all of the ways in which a company interacts with its customers and analyze these interactions to optimize revenue, profitability, customer satisfaction because they are getting exactly what they want (ie., exceeding expectations) and customer retention. It also enable employees who interact directly with customers to provide better, more personal service for the customers. The CRM help a company to build customer relationships by looking at things from the customer’s perspective. The company use CRM to focus on what exactly do their customers want and need which enables the production and service efforts.
By using CRM a company knowing which products or customers are most or least profitable which enables them focus on maximising profit. The purpose of CRM is to increase profit by providing a better service to your customers than your competitors. CRM will also reduce costs, because the right things are being done (ie. , effective and efficient operation), wastage, and complaints. Customer relationship management tools include the software and browser- based application that can receive and organize the information about the customer and then provide to the employee with the information that they need to know their customers’ wants and needs.
This is to build long term profitability and sustainability for a company. Nike Inc. have over the years have built up their customer relationships in order to bring in profit along with customer satisfaction. Nike uses the key features of social networking in CRM such as their online site Nike. com to track valuable information in order to optimize customer relationship management. Ordering a product from Nike asks you to input basic data such as your name, location and contact info and this info then is used to track buying habits from the customer.
There is an option for the customer to receive offers through their email account and information like this is tracked in order to see the habits of the customer. Through the use of the online blog, inside. nike. com, Nike is able to utilize the Customer centric in order to improve on their products and service thus increase the organization profit to its maximum. (Louis, 2010) Besides that, Nike Inc. also provide sponsorship to many high profile athletes and sport teams around the world, with the highly recognized trademarks of “ Just Do It!’’
This is one of the statergy used by Nike to get closer to their customer and thus buid strong relationship with their customers. Moreover, Nike try their best to correcting problems no matter how small faced by their customers to increase customers loyalty and respect for their brand. Still, Nike considers the results promising. Says CEO Mark G. Parker : “ A strong relationship is created when someone joins a Nike community or invites into their community.” which is the part of the brand marketing. This made Nike gain profitable and sustainable in the market.
Bata is India’s largest footwear retailer and manufacturer with a retail presence across 400 cities. The reason is because Bata have always kept the customer at the heart of their business and never overlooking their customer’s needs. By implement the customer relationship management, Bata enables giving their customers the best product lines and shopping environment. Other than that, customer relationship management also helps Bata keep trace with their customer expectations and therefore always make changes on their store design, introduction of trendy designs, and improve the superior service.
Moreover, Bata Company is engaged in building trust lies with the customer by implement the customer relationship management. If the customer is satisfied and loyal to their brand, the company will grow and give good returns to the investors which will further remunerate and motivate their employee. Customer relationship management also help the management level of Bata Company foresee the opportunities in the market growth and a rapidly expanding middle class. For this, they can systematically transform Bata into a completely customer centric organization to serve this new market.
Bata uses sales management and ustomer support in the CRM system to gather data about their customer and used to facilitate customer service transactions by making the information needed to resolve the issue or concern readily available to those dealing with the customers. This results in more satisfied customers, a more profitable business and more resources available to the support staff. Furthermore, CRM systems are a great help to the management in deciding on the future course of the company. (Andrew, 2011). In order for Bata to increase their profit they are trying to maximize their customer satisfaction by provide what’s their needs and wants.
In conclusion, both companies are focusing on their customers by looking for their customer’s needs and wants to build a strong customer relationship with their customers thus maximize their profit. The company used different CRM system to target their own customers. Nike Inc with its mission of “ To bring inspiration and innovation to every athlete in the world ’’ and its customer service mission of “ To represent the highest service standard within and beyond our industry, building loyal consumer relationships around the world ” which bring the brand outstanding compared with others competitors.