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Anneke Zwart Student (University), Netherlands
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CRM: What Forms a Strong Customer Relationship?
Of course a vital relationship between customer and company is critical for CRM to be efficient. But what forms a strong relationship? The answer on this question is not always clear. Nguyen and Mutum mention four essential factors important in pertaining a strong customer relationship:
1. Trust and commitment: Trust means feeling secure by believing in positive and beneficial intentions of parties involved. Therefore, trust is positively related to satisfaction and loyalty. Besides, trust is an important component of commitment which also increases satisfaction and loyalty.
2. Satisfaction: there exist a positive relationship between satisfaction and loyalty; satisfied clients are more likely to maintain a good relation. Furthermore, since a relationship’s duration is dependent on a clients subjective evaluation of this relationship, satisfaction increases the duration of a relationship as well.
3. Symmetry and independence: symmetry means to what extend the members of the relationship are equal. The more asymmetric a relation, the more likely conflicts will develop and thus the less stable the relationship. Furthermore, the more dependent one party is on the other party, the less symmetric and thus the less stable a relationship.
4. Fairness: research has shown that fairness in a relationship improves the quality. It is essential to develop projects and methods which are considered to be fair by the members of the relationship, in order to maintain a good relation.
Source: Nguyen, B. And D. S. Mutum. (1995). A Review of Customer Relationship Management: Successes, Advances, Pitfalls and Futures. Oxford Brookes Business School, Oxford Brookes University, Oxford, UK, and Warwick Business School, University of Warwick, Coventry, UK
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Mohammed Rahim Ullah Financial Consultant, Bangladesh
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One more Factor to Create A Strong Customer Relationship
Have a CRM Practice for customer equity building / relationship banking. If you want to ensure customer equity, you need...
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Richard Ahumibe Management Consultant, United Kingdom
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Factors for a Strong Customer Relationship
Keeping our promises to our customers (nothing binds like a promise kept) and giving extra support to our customers when...
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Orane Farquharson Project Manager, Canada
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When will Customer Relationship be Strong? If there are Mutual Benefits and 2-way Communication
From a sociological perspective, the ability to create a mutually beneficial scenario. Customers can witness this on a c...
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Praneet Varma Manager, Indonesia
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How to Form a Strong Customer Relationship: Voice of Customer and HR
To add, ask customers what they want and how can we make things better.
The quality must keep increasing constantly and...
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Marcel Wiedenbrugge Consultant, Netherlands
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Building a Strong Customer Relationship: The Role of Consistency
As part of 2. Satisfaction, it's important to have consistency and we should be managing expectations in a consistent wa...
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Mohamad Nasir Mahmood Director, Malaysia
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Balancing Internal and External Customers
There are two kinds of customers:
- external customers - those who pay and receive the products or services rendered, t...
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Naomi Elisabeth Indonesia
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When will a Customer Relationship be Strong? Customer-Orientation and Sincerity
When we focus on the customer and we put ourselves in their shoes, we will be able to understand and consider what they ...
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PK Lim CMC, PMC Management Consultant, Singapore
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CRM: what Forms a Strong Customer Relationship?
Having an actual relationship is # 1. Next is you are always there to listen and provide solutions when the customer nee...
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Musyoki Muli Director, Kenya
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How to Build a Strong Relationship: Communication to Customers
@Orane Farquharson : I agree that communication that updates the customer on upswings and downswings makes them feel val...
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remo ram mero Financial Consultant, Saudi Arabia
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Creating Strong Customer Relations by Scheduling Appointments
@Lim Poh Khai : I agree on the practical side, creating and scheduling appointments with customers should be a central a...
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Stephan Weber Business Consultant, United Kingdom
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What Forms a Strong Customer Relationship: Deliver what your Customers Value
Create the right value: identify and deliver what is important to your customer. From experience I know that sometimes o...
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P. ter Horst Strategy Consultant, Chile
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Providing Status to the Customer
The four principles mentioned by Anneke are valid, but none of them seems to be as relevant as the customer's status gai...
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Jaap de Jonge Editor, Netherlands
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The Role of Status in Forming a Strong Customer Relationship
@P. ter Horst: thanks for your thought provoking reaction. I believe you are right to say that it is the subjective...
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Marcel Wiedenbrugge Consultant, Netherlands
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What Forms a Strong Customer Relationship is Different in B2B and B2C
I like to make a distinction between B2C and B2B:
- In B2C, status, as Ter Horst mentions can be more dominant.
- In B...
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Dr. Sapna Dadwal Professor, India
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Achieving a Strong Customer Realationship also Requires Sharing the Mind of the Customer
Apart from the above points I think sharing the mind of the customer and creating the value each customer wants are also...
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Mary Grace Mabunga Student (MBA), United Kingdom
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Associations and Experience are Two Main Themes of CRM as a strategy
@P. Ter Horst: Based on my research, company's are associated with different expectations. These expectations provide va...
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