Week 5: Dialogue
Please respond the following assignment in the Dialogue area of Blackboard:
Post a message that explains and discusses why it is important for businesses to use CRM strategies to manage their customer information. Support your post with at least two peer-reviewed scholarly journal references.
In addition, describe from a biblical worldview how businesses can utilize CRM strategies in order to better serve their consumers.
Reply to two students in 200-300 words in APA format and use your research to add to or challenge the findings of your peers. Support at least one of your responses with at least one peer-reviewed scholarly journal reference.
Above is the original post that we had to do.
Below is one of my fellow students post that I need to respond to.
Customer relationship management is becoming more vital and is a component of a successful business in the 21st century. Customer Relationship Management is defined in Business Driven Technology, “a means of managing all aspects of a customer’s relationship with an organization to increase customer loyalty and retention and an organization’s profitability” (Baltzan, 2018, pg. 194). CRM is a tool that can give a company a comparative advantage over their competitors by establishing a relationship with the customer that enhances their overall experience and view of the company. CRM is drastically affecting the marketing strategies of the 21st-centurybusiness according to the Journal of Marketing, “Marketing has moved from a brand-centered focus to a customer-centered approach” (Fornell, Krishnan, & Mithas, 2005, pg. 201). CRM emphasizes the importance of the customer’s experience, tailoring their business structure to meet their customer’s needs in unique ways.Administrative Sciences explains how CRM is infiltrating nearly every business no matter the field, “Customer relationship management is widely regarded as an essential philosophy of doing business that focuses on customer retention and enhancement. The successful implementation of CRM results in the reduction of defection rates, reduction of costs and enhancing revenues” (Sui, 2016, pg. 1). The proper utilization of CRM lets companies focus on the customers that are the most profitable, using metrics and tools to track a customer’s spending habits and experience with the company through communication and a customer’s visit either physically or virtually. CRM helps a company’s vision with needs and wants of the consumer, “CRM is not simply an IT solution that is used to acquire and grow a customer base; it involves a profound synthesis of strategic vision; a corporate understanding of the nature of customer value in a multichannel environment; the utilization of the appropriate information management and CRM applications; and high-quality operations, fulfillment, and service” (Frow & Payne, 2005, pg. 168). A biblical worldview can only benefit CRM strategies for businesses by taking the focus off of the company and putting the focus on others (customer base). The Gospel message is geared towards reaching others for Christ, the needy, the hurt, and the broken and sharing a message the meets them the right way they are. Companies can share their unique message that meets the needs of their customer base. A biblical parallel to this concept was Jesus explained to the Pharisees who needed this message of love and grace, it was sinners, “why do you eat and drink with tax collectors and sinners?’ Jesus answered them, ‘It is not the healthy who need a doctor, but the sick. I have not come to call the righteous, but sinners to repentance’” (Luke 5:30-32, New International Version).
Reference:
Baltzan, P. (2018). Business driven technology (7th ed.). New York, NY: McGraw-Hill (2016). business intelligence. In Law, J.(Ed.), A Dictionary of Business and Management.
Holy Bible: New International Version. (2001). Grand Rapids, MI: Zondervan Pub. House.
Mithas, S., Krishnan, M., & Fornell, C. (2005). Why Do Customer Relationship Management Applications Affect Customer Satisfaction? Journal of Marketing, 69(4), 201-209. Retrieved from http://www.jstor.org.ezproxy.regent.edu:2048/stabl…
Payne, A., & Frow, P. (2005). A Strategic Framework for Customer Relationship Management. Journal of Marketing, 69(4), 167-176. Retrieved fromhttp://www.jstor.org.ezproxy.regent.edu:2048/stable/30166559
Siu, N. Y. (2016). Customer relationship management and recent developments.Administrative Sciences, 6(3), 7. doi:http://dx.doi.org.ezproxy.regent.edu:2048/10.3390/…
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