Customer Relationship Management Strategy Research Articles

CRM СПРЯМО СТРАТЕГИИТЕ ЗА ИНТЕРНАЦИОНАЛИЗАЦИЯ

This study examines the pivotal role of Customer Relationship Management (CRM) in the realm of international business strategy. By analysing various definitions and models of CRM, it identifies how CRM strategies align with organisational goals across different market conditions and cultural landscapes. The paper synthesizes these findings to propose a comprehensive CRM approach that enhances customer satisfaction and organisational profitability while addressing the challenges of international business operations.

Golden Arches of Success: Enhancing Customer Relationship Management at McDonald's, Wide Angle, Ahmedabad

Customer Relationship Management (CRM) is crucial in the retail business, especially in the highly competitive fast-food sector. This research examines the customer relationship management (CRM) strategies used by McDonald's, Wide Angle in Ahmedabad. The objective is to get insights into their methods of managing customer relationships and improving corporate performance. The goals include evaluating current CRM strategies, identifying strengths and areas for improvement, and offering practical suggestions to increase CRM performance. The study used a qualitative research methodology, including semi-structured interviews with branch managers to get in-depth understanding of McDonald's customer relationship management (CRM) activities. The key results include McDonald's tactics for managing data, techniques for segmenting customers, avenues for contact, and programmes for fostering loyalty. The investigation demonstrates a significant focus on customisation, the use of technology, and the incorporation of client feedback methods. The strengths that have been highlighted include the implementation of comprehensive communication strategies and the successful implementation of loyalty programmes. On the other hand, the problems that need to be addressed are the integration of feedback into practical and effective initiatives.

Enhancing Customer Relationship Management in Retail: A Case Study of Reliance Trends

Within the dynamic realm of retail, the implementation of Customer Relationship Management (CRM) is essential for cultivating customer satisfaction, fostering loyalty, and ultimately propelling sales growth. This case study explores the CRM strategies utilised by Reliance Trends, a prominent fashion retail brand in India, to examine how it effectively utilises CRM practices to stay ahead in the competitive market. Using a qualitative case study approach, this research delves into the effectiveness of Reliance Trends' CRM initiatives in boosting customer satisfaction and loyalty. It also aims to identify any areas that could be enhanced. This study underscores the importance of CRM in retail environments, emphasising its influence on tailored customer interactions and the customisation of global strategies to fit local markets. Our findings provide valuable insights into CRM practices, highlighting both their strengths and weaknesses. Additionally, we offer recommendations for enhancing the effectiveness of CRM strategies.

Enhancing Customer Relationships: A Case Study of CRM Practices at City Square Mart in Ahmedabad city of Gujarat State

This study paper provides an in-depth examination of customer relationship management (CRM) operations conducted at City Square Mart, a well-known retail business specializing in supermarket trends. This research seeks to provide insights that will improve the development and implementation of CRM strategies in the retail industry by conducting interviews with store managers and analyzing their CRM methods. This study analyzes key elements of consumer engagement channels, such as in-store experiences and online platforms, to understand how City Square Mart effectively combines these channels to provide a seamless and cohesive customer experience. This research also examines consumer feedback methods, loyalty programs, complaint management processes, and initiatives aimed at personalization and customization of goods. The results of this research provide important insights for retail managers who want to improve their CRM strategies and for academics who want to increase their understanding of customer relationship management in the retail industry. This research aims to improve customer interactions and drive company success in the changing retail market by analyzing the unique CRM tactics implemented by City Square Mart

The Influence of Customer Relationship Management in Enhancing Hospitality Business Performance: The Conditional Mediation of Digital Marketing Capabilities

ABSTRACT This study examines the potential advantages of amalgamating customer relationship management (CRM) platforms with digital marketing capabilities (DMC) within the hospitality sector. Using structural equation modeling, data collected from 569 hospitality employees in Vietnam supported the hypothesis that DMC exerts both a direct and an indirect positive influence on DMC and CRM. This study offers novel perspectives on how DMC impacts the dynamics between CRM and the performance of lodging businesses. It added a nuanced understanding of the interconnections between DMC, hospitality business performance (HBP), and CRM and their collective impact on organizational performance within the hospitality industry. The results provide valuable insights for making informed policy decisions and fine-tuning marketing and CRM strategies to enhance hospitality organizations’ competitive edge in this competitive industry.

Social media marketing, customer relationship management strategies, and e-commerce strategies: Basis for marketing performance framework

Social media marketing, customer relationship management strategies, and e-commerce strategies: Basis for marketing performance framework

INFLUENCE OF THE CHARACTERISTICS OF SMALL AND MEDIUM FAMILY BUSINESSES ON CRM IMPLEMENTATION: A CASE STUDY

Purpose: This paper aims to explore the customer relationship management (CRM) strategies adopted by Family Small and Medium Entreprises (SME), while highlighting the impact of their characteristics and their assets on the choice and the adoption of these CRM strategies. Methodology: Since the unique case study approach allows in-depth, multi-faceted explorations of complex issues, we opted for it as a research strategy in order to develop a detailed understanding of the problem. Therefore, an in-depth case study was carried out within a small and medium family business in Morocco. Findings: Through this study, we have highlighted causal links between the characteristics and specificities of the family SMEs and their impacts on the adoption and implementation of CRM tools and strategies. While some characteristics linked to the nature of family SMEs such as participatory management style, familiness, the desire to transmit the business to future generations and proximity to customers constitute assets for the implementation of CRM, other characteristics, such as the desire to maintain financial independence and recruitment policies that are most often in favor of family members despite their competence, can negatively influence the implementation of successful CRM projects. Implications for Theory and Practice: The results of the present paper allow the authors to draw conclusions that are relevant to both academics and practitioners. As for the theoretical implications, this study highlights the relationship between the characteristics of family SMEs and the choice and implementation of CRM strategies, while relying on their strengths. Furthermore, developing a good understanding of the specificity of CRM adoption and implementation approaches within family SMEs has important managerial implications for family SME decision-makers, as it can help them make better decisions regarding the choice of relevant CRM strategies and to optimize the deployment of available human, financial and technological resources, while relying on their socio-emotional wealth and their motivation to perpetuate the company. Originality: This paper is one of the first to explore CRM strategies adopted by family SMEs. The authors present a conceptual framework that can help researchers and practitioners better understand how the family business nature can influence decisions about CRM tools and strategies implementation.

Examining the Role of FinTech Services on Customers Retention of Islamic Banks in Pakistan: An Empirical Assessment

The objective of this research is to examine the influence of several variables, such as fintech payments, advisory services, and fin-tech financing, on the retention of customers in Islamic banks. The researcher used quantitative research design and positivistam philosophy to conduct this research. The target population comprises Islamic banking customers, with the sample drawn from 300 individuals holding accounts in the Punjab province of Pakistan. Data collection was facilitated through an adopted questionnaire administered to respondents. The findings reveal a significant impact of FinTech Payments, Advisory Services, and FinTech Financing on customer retention within the Islamic banking industry, showcasing the importance of these elements in shaping customer loyalty. This study stands out for its comprehensive examination of various facets related to FinTech and their direct and indirect effects on customer retention within the unique context of Islamic banking. However, it's crucial to acknowledge a limitation regarding the generalizability of the results beyond the studied population. Despite this constraint, the research offers valuable insights for Islamic financial institutions aiming to bolster customer retention through strategic utilization of FinTech-related elements and the cultivation of trust among their clientele. By embracing these findings, Islamic banks can enhance their customer relationship management strategies and maintain a competitive edge in the evolving financial landscape.

Assessment of CRM and E-Marketing Strategies on Agri-SMEs Performance in Bauchi State, Nigeria

Nigeria's economy depends heavily on its agriculture industry; however, some obstacles prevent Small and Medium Enterprises from growing and being sustainable, especially in states like Bauchi. Although customer relationship management and e-marketing strategies can address these issues, there are still a number of obstacles preventing their widespread implementation. This study investigates the variables that influence the implementation of these strategies and their effects on the performance of Agri-SMEs in Bauchi State, Nigeria. Data from a sample of 150 Agri-SME operators in Bauchi State were gathered using a quantitative research approach and structured questionnaires. While regression analysis was used to test the hypotheses. The regression coefficients and average scores obtained from the study indicate a low R-square value and absence of statistically significant variables in the model, indicative of a weak predictive potential. The study concludes that although CRM and e-marketing have the potential to benefit Agri-SMEs, it is unclear how they would affect performance in Bauchi State. Future priority areas include nonlinear interactions, complex corporate settings, and the necessity of comprehensive strategies, capacity building, and governmental assistance. To facilitate the successful implementation of digital strategies in agriculture, Agri-SMEs should focus on comprehensive strategy formulation and capacity building, and policymakers should prioritise infrastructure and policy assistance.

Business analytics in CRM: A comparative review of practices in the USA and Africa

In the dynamic landscape of global business, Customer Relationship Management (CRM) has emerged as a crucial strategy for organizations aiming to enhance customer satisfaction and loyalty. This study delves into the realm of Business Analytics (BA) within CRM, examining the diverse practices employed in the USA and Africa. The purpose is to identify similarities, differences, and potential areas for improvement, with the overarching goal of fostering more effective CRM strategies. The American business landscape, characterized by advanced technological infrastructure and matured data analytics capabilities, provides a fertile ground for sophisticated CRM practices. A comprehensive analysis of leading companies in the USA reveals a strong reliance on predictive analytics, machine learning, and artificial intelligence to glean actionable insights from vast datasets. Such approaches empower organizations to personalize customer experiences, optimize marketing strategies, and drive overall business growth. In contrast, the African business environment exhibits unique challenges and opportunities. While certain regions may face infrastructural constraints, innovative CRM practices tailored to local contexts are emerging. This study sheds light on the utilization of mobile technology, social media analytics, and localized data collection methods as crucial tools in the African CRM landscape. These adaptive strategies not only address challenges but also present opportunities for leapfrogging traditional CRM models. The comparative review uncovers key areas of convergence and divergence between the two regions, highlighting the need for a nuanced approach to global CRM strategies. By synthesizing insights from the USA and Africa, organizations can develop a more holistic understanding of effective CRM practices. This research contributes valuable insights to the ongoing discourse on global business analytics, offering a roadmap for organizations to navigate the intricacies of CRM implementation in diverse and dynamic markets.

Analysis of The Effectiveness of Integrated Customer Relationship Management Strategy Implementation on Loyalty of National Logistics Company Customers

This research aims to determine how the IDIC model of customer relationship management strategy is implemented to create brand loyalty. This research uses post-positivism. This research uses a qualitative and descriptive approach. This research method uses the case-study method. The data collection technique in this research is interviewing. This research uses construct validity. The relevant technique for analyzing data in this research is pattern matching. From the results of the research conducted, it was found that the company had succeeded in implementing an effective customer relationship management (CRM) strategy to create brand loyalty. The company also successfully implemented the IDIC model concept in its CRM strategy, which includes identifying customers, differentiating services based on needs, interacting intensively, and adapting services to customer needs through technology. Apart from that, this company has also succeeded in measuring the effectiveness of its CRM strategy through the Net Promoter Score. Furthermore, this research shows that, in contrast to other sectors, B2B logistics companies emphasize service quality and company value more than providing discounts or promotions to increase customer loyalty. As a result, this company gained customer loyalty, which is reflected in its success in extending contracts with its customers.

Implementation of Customer Relationship Management (CRM) Strategy in Increasing the Loyalty of Non-Pawn Customers at PT Pegadaian Lempuyangan Branch

Economic activities in each country are closely related to financial issues. In the pawn and credit sector, there is very tight competition at the moment, this is also realized by PT Pegadaian Lempuyangan Branch. Therefore, the company's focus must be increased in increasing customer loyalty and delivering value. The purpose of this writing is to determine the increase in non-pawn customer loyalty at PT Pegadaian Lempuyangan Branch resulting from the implementation of the Customer Relationship Management (CRM) strategy. The qualitative method was chosen as the method used in this writing. The data collection techniques involved in this writing are in the form of observations and interviews with internal and external parties of the company. The data that has been collected will then be analyzed using content analysis techniques. As a result, Customer Relationship Management was found to have a significant and real impact on customer loyalty, especially in owning the products offered by the company. Customer Relationship Management is very important to maintain added value and ensure the company's survival. In implementing Customer Relationship Management to increase customer loyalty, companies need to consider customer needs when making product offers, especially non-pawn products. This can be done by increasing the use of social media platforms for offers and improving the service features available on the Pegadaian Digital application for transaction services.

A Bibliographic Review to Identify Trend Topics and Sustainability of Customer Relationship Management Strategies

Customer relationship management (CRM) describes the standards that a company adheres to when interacting with customers. This bibliometric analysis will draw the attention of researchers toward CRM. Since the COVID-19 pandemic, CRM has become a relevant topic for all marketers, whether online or offline. This study will also help to evaluate the relationships between various articles and the degree of cooperation among various authors, universities, and countries in the field of CRM studies to determine the sustainability and trending topics in various fields of CRM and CRM strategies on customers’ purchase intentions over the period 2000 to 2022. Biblioshiny, a web-based tool for bibliometric analysis, was used in this study to analyze a sample of 828 papers pulled from the Scopus database and the Web of Science between 2000 and 2022 that contained the keywords “customer relationship management,” “customer relationship management strategies” to identify the development and trending topics in customer relationships. The phrase “customer relationship management” is strongly connected to many other terms like “customer relationship management strategies,” “CRM,” “customer satisfaction,” “e-CRM,” “customer loyalty,” and many more that have emerged as important subtopics in this discipline over the past 2 decades. This research will be also useful for new researchers to perform more research on CRM in many different fields also.

Pemanfaatan Data Transaksi Untuk Mewujudkan Kepuasan Pelanggan, Brand Awareness Dan Loyalitas Pelanggan

Business development and growth is the ultimate target of establishing a company. Apart from being sales data, transaction data can also be a company asset that can be used for operational management and marketing strategies. For operational purposes, transaction data that reflects customer capabilities and conditions can be used for inventory management purposes by predicting the need for raw materials to guarantee the availability of products or services within a certain period of time according to customer needs. Companies can also develop products according to customer needs and minimize unnecessary expenses resulting from excessive procurement of raw materials. For marketing purposes, transaction data can be a reference for determining demographic customer characteristics. Customer characteristics can be used as a tool to determine current customer segments and how to provide maximum service to customers. The overall condition of customers will be valuable information for companies in carrying out marketing strategies. This research will explain how to utilize sales transaction data during a certain period using qualitative methods to achieve customer satisfaction through good raw material inventory management and appropriate product and service development, creating brand awareness (customer awareness of the brand) through digital marketing (digital marketing) and customer loyalty through customer relationship management strategies in the Exist Autodetailing Yogyakarta vehicle body maintenance business.

APPLICATION OF CUSTOMER RELATIONSHIP MANAGEMENT ON A WEBSITE

Building material distribution is the business of PT. Kejora Inti Mas. The corporation engages in limited customer interaction and has a narrow target market since it adheres to traditional business methods. To build solid client relationships, broaden target markets, and boost competitiveness, businesses need websites that include a customer relationship management (CRM) strategy. PT. Kejora Inti Mas is implementing the CRM strategy by integrating various features such as live chat support, product recommendations, subscriber features, email notifications for order statuses, customer testimonials, rewards programs, live chat support, seamless integration with WhatsApp chats, and shipping cost calculation. The system is being developed using the Rapid Application Development (RAD) approach, which consists of three steps: system design, system implementation, and requirements planning. The system was implemented for a month before Keywords: Customer Relationship Management, Website, Rapid Application Development.

Leveraging Marketing Automation to Enhance Customer Relationship Management and Improve Management Performance in MSME B2B

This study aimed to explore the impact of using marketing automation in customer relationship management strategies and ultimately improving management performance in the context of B2B Micro, Small and Medium Enterprises (MSMEs). The research method involved primary data collection using a quantitative approach and a non-probability sampling method, specifically purposive sampling, on 105 samples that actively use marketing automation tools. The analysis technique used was Structural Equation Modeling (SEM) with the help of Lisrel 8.80 software. The results show that marketing automation has a positive and significant impact on B2B customer relationship management, with reach of message as the most dominant indicator, contributing 65.61%. Furthermore, B2B customer relationship management also has a positive and significant effect on Marketing Performance, where improving the quality of customer relationships is the most dominant indicator at 77.4%, and the most dominant indicator in shaping marketing performance is having a larger market, accounting for 42.25%. The conclusion of this study is that the use of marketing automation in customer relationship management strategies can improve the marketing performance of B2B-based MSMEs.

Association Rules Mining for Designing Product Bundling Strategy (Study Case at a Cafe in Jakarta)

Cafe X is a modern and prominent coffee shop in town that sells specialty beverage products with a total of 73 variations. Sales transactions that occurred in March 2021 at that Cafe reached an average of 300 times per day. All this time, the transaction data is only used to calculate inventory replenishment and to observe sales profits whereas it can actually be utilized to reveal information related to customer behavior in buying products by finding the association or pattern between product sales. The purpose of this study is to obtain association models between items that can be used as a base to arrange recommendations for selling beverage products at Cafe X using a data mining method, namely the association rules with the Apriori algorithm. The transaction data specified for data processing are payment transactions of a total of 3,100 data records. From the analysis results, it is known that there are 8 product association rules that meet the minimum support of 0.01 and the minimum confidence of 0.5, which means that these rules can be used as an alternative basis for determining business strategy at Cafe X. Based on the association information between products, the customer relationship management (CRM) strategy that can be applied at Cafe X is the promotion strategy of product bundling. From a number of recommended bundled products, it is found that there are opportunities to increase sales for four products, they are MD001, TH002, LB001, and TU001.

A high-performance turnkey system for customer lifetime value prediction in retail brands

Customer lifetime value (CLV) modeling underpins modern marketing analytics, enabling the development of tailored customer relationship management strategies based on the predicted future value of their customers. As part of Amperity’s enterprise customer data platform (CDP), we deploy and maintain a CLV prediction system that caters to a rapidly growing list of brands across various industries, purchase behaviors, and scales. Given the impracticality of developing bespoke models for each brand, our solution must be adaptive, generalizable, and high-performing ”out of the box”. Furthermore, our platform demands daily prediction updates to facilitate prompt marketing decisions. This paper introduces a turnkey CLV prediction system that achieves state-of-the-art performance across a diverse set of brands. This system has several contributions: 1) the use of encodings and embeddings to incorporate signals from high-cardinality data; 2) a multi-stage churn-CLV modeling framework that augments additional flexibility in adjusting churn probabilities, subsequently reducing CLV prediction errors while maintaining a synergistic learning process; 3) a feature-weighted ensemble of both generative and discriminative models to accommodate diverse underlying purchase patterns. Empirical results show that our enhanced model consistently surpasses benchmark performances for twelve retail brands across six evaluation intervals from June 2020 to September 2022.

The nexus between quality of customer relationship management systems and customers' satisfaction: Evidence from online customers’ reviews

Customer Relationship Management (CRM) is a method of management that aims to establish, develop, and improve relationships with targeted customers in order to maximize corporate profitability and customer value. There have been many CRM systems in the market. These systems are developed based on the combination of business requirements, customer needs, and industry best practices. The impact of CRM systems on the customers' satisfaction and competitive advantages as well as tangible and intangible benefits are widely investigated in the previous studies. However, there is a lack of studies to assess the quality dimensions of these systems to meet an organization's CRM strategy. This study aims to investigate customers' satisfaction with CRM systems through online reviews. We collected 5172 online customers' reviews from 8 CRM systems in the Google play store platform. The satisfaction factors were extracted using Latent Dirichlet Allocation (LDA) and grouped into three dimensions; information quality, system quality, and service quality. Data segmentation is performed using Learning Vector Quantization (LVQ). In addition, feature selection is performed by the entropy-weight approach. We then used the Adaptive Neuro Fuzzy Inference System (ANFIS), the hybrid of fuzzy logic and neural networks, to assess the relationship between these dimensions and customer satisfaction. The results are discussed and research implications are provided.

Big data analytics and market performance: the roles of customization and personalization strategies and competitive intensity

PurposeBig data analytics (BDA) plays a crucial role in understanding customer behavior through Customer Relationship Management (CRM), especially in a rapidly changing business environment. This paper investigates the direct effect of BDA use on market performance, besides the mediating effect through Big Data-enabled CRM strategies adoption (e.g. customization and personalization). The paper also examines the moderating role of competitive intensity in these effects.Design/methodology/approachDrawing from a knowledge-based view (KBV) and Organizational Information Processing Theory (OIPT), the authors formulated the research model. Subsequently, the measurement model and hypotheses were tested through PLS-SEM on online survey data of 229 managers from 167 companies out of Egypt's top 500.FindingsThe results indicated that BDA use does not directly affect the market performance, but this effect was significant through customization and personalization strategies adoption. The results also revealed a positive association between BDA use and the adoption of these strategies. Furthermore, competitive intensity only moderates the relationship between BDA use and personalization strategy adoption.Research limitations/implicationsCompanies can use BDA to improve customer knowledge and experience through customization and personalization, leading to better market performance and moving towards becoming a Big Data-driven organization. This study is limited to companies in the Egyptian context, which restricts the generalizability of the results.Originality/valueThis study conceptually and empirically explores how BDA usage, customization and personalization strategies impact market performance under competitive intensity situations, especially in the context of emerging markets.