External customer relationships, post-purchase customer relationships, and internal company relationships are always vital. And so are customer relationships in a high-tech world.
But first, let’s explore “customer relationship” from a few sources:
- Entrepreneur Magazine. Company relationships refer to “ways in which your firm communicates and deals with existing customers. To increase profits, it’s tempting to concentrate on new or bigger accounts. But attention to existing customers, no matter how small, is essential to thrive. The secret to repeat business? Follow up in a way that positively affects the customer.”
- TechTarget Network. “Customer relationship management (CRM) refers to practices, strategies, and technologies that firms use. This can manage and analyze interactions in the customer lifecycle. With the goal of improving customer service relationships and assisting in customer retention and driving sales growth.“
- Investopedia. “From the firm’s viewpoint, the entire customer relationship encompasses direct interactions. Such as sales and service-related processes. As well as forecasting and analysis of customer trends and behaviors. Ultimately, CRM serves to enhance the customer’s overall experience.“
As this Microsoft chart shows, the basis of CRM can be simple. [But implementation can be hard and time-consuming.]
Customer Relationships in a High-Tech World
Thanks to Steve Hashman and The CUBE for the following discussion and infographic.
“Technology can improve or disimprove relationships. And firms must be careful with how they enact it. Firms must keep in mind that 91% of consumers value authenticity. We know that sometimes technology can reduce this. Thus, the message in this CUBE infographic relates to how businesses must see technology as a way to get closer to customers rather than further away.”
“In addition, it’s imperative that technology doesn’t make firms life. And firms need to be careful about adopting every new technology. As the late Steve Jobs put it, ‘you’ve got to start with the customer experience and work backward to the technology’.”