Abstract
Customer Relationship Management (CRM) is a concept for increasing companies' profitability by enabling them to identify and concentrate on their profitable customers. CRM and knowledge management, have great influence in the success of an organization. A number of CRM approaches focuses on technology applications, but the critical role of knowledge management has now become an active research area. The customer's value has become apparent for the leading companies in today's competitive environment. Therefore they are constantly trying to improve their relationship with customers via their customer relationship management systems. Knowledge Management (KM) can also help to improve the quality of the information obtained by CRM. However, in order to be more effective, KM should be provided with a steady and ongoing process of gathering information from outer sources in cooperation with the CRM system. In this study, a Customer Knowledge Management (CKM) model has been integrated with CRM and KM in four stages. Then, in order to improve the performance of CKM, a Social CRM (SCRM) is proposed. SCRM would help in reaching the customer in a more efficient manner through online. SCRM can improve the overall profitability of the organization as direct feedback from customers are made available online which can motivate other customers to buy the products. This research study mainly focuses on the integrated SCRM model with CKM to compete with the online customers and to add values to the product based on the feedbacks of the customers.
Highlights
Customer Relationship Management (CRM) is one of the main conceptual areas of the industries to integrate business and technology process to handle customer satisfaction
This study mainly focuses on improving the profitability and the customer satisfaction through integration of Customer Knowledge Management (CKM) and Social CRM (SCRM)
The Knowledge and time management for manufacturing to enhance CRM is developed based on data mining concept and experimental data are obtained with the platform of VB.Net which is user-friendly in all views and for the users
Summary
CRM is one of the main conceptual areas of the industries to integrate business and technology process to handle customer satisfaction. It is important for an organization to recognize the requirements of customers and to improve the consistence performance (Al-Mudimigh et al, 2009a). Maximization of lifetime value is a key objective of CRM. Thorough perceptive analysis of the customers would result in increased customer lifetime value (Al-Mudimigh et al, 2009b). To improve the customer behavior, most of the companies concentrate on customer satisfaction as main performance indicator but, here time frame is proposed as Key Performance Indicator (KPI). Activities of organization performs to identify qualify, acquire develop and retain improves the loyal and profitable customers by delivering the right product or service, to the right customer through the right channel, at the right time and right cost (AlMudimigh et al, 2009a, b)
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