Unit 29-LO2 Explain and evaluate the customer relationship management process for a small business or social enterprise, including understanding the benefits and challenges of transnational operation

Course: Pearson BTEC Levels 4 and 5 Higher Nationals in Business

Customer Relationship Management is a process for understanding, measuring, and satisfying customer needs in an environment of continuous change.

A small business or enterprise that favors transnational operation can benefit from tighter control over the management process to retain positive customer relations in a variety of global markets with different political and economic systems.

The challenge of CRM for a small business or enterprise favoring transnational operation comes from the interdependence between local market policies and international commerce, which may discourage cross-border cooperation among independent businesses struggling to keep their own operations intact without encroaching on others’ interests. This creates challenges when competitive strategies and tactical responses to events conflict across boundaries. Small businesses favor consolidation by taking advantage of regional trade agreements but find that managers have difficulty implementing them.

Building customer relationships:

Assessment of customer value, acquiring and retaining customers.

Knowing how to assess customer value will help make maintaining your customer base easier.

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A key step in the process of acquiring and retaining customers is building a strong, positive relationship with them over time so that they’ll continue to buy from you through thick and thin.

Some ways to do this are by providing excellent service, having consistent messaging across marketing channels, and using effective social media platforms. Relationships can take time so don’t give up too quickly!

Developing effective channels for customer communications and customer care programs

To take care of your customers, you need to find them. And the best way to do that is with consistent channels for customer communications.

To optimize these channels and deliver your message effectively, start by trimming back on what you say. If a product or service has many benefits, keep the messages short and sweet by focusing on one specific benefit at a time – rather than trying to say everything all at once.

Audiences have extremely limited attention spans because of technology, so keep it short! The paragraphs should be no more than three sentences long each and use bullet points for easy understanding. when sending emails via automated responses (never emailing out individual emails from scratch), include links in what you’re saying so people can go to a website to find out more information.

Digital platforms for effective customer relationships include email marketing for mobile devices, online chat and forums for real-time responses and solutions, online testimonials and ratings, and the use of social media.

Email marketing for mobile devices is a great way to reach customers while they are on the go and it’s free—as long as you have data. It also allows users to share information in an easy format, which can be accessed by sending a link or by pasting the information into another application. The email will also allow you to track how many times it has been viewed, forwarded, or downloaded so that if you are using mass emails sent out at one time through your digital platform, then who read them and how much attention each person gave them during their reading process becomes easily accessible!

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Online chat and forums for real-time responses and solutions to any potential problems or questions customers might have.

Online communities for customers to share their industry experiences from both a professional and personal standpoint through various forms of sharing. This can be done in numerous ways such as social media, blogs, as well as video-sharing platforms like YouTube!

Online review systems that allow clients to rate you on business standards and your customer service practices. Good reviews will increase the likelihood that other customers will choose your company over another when making purchasing decisions. There are many platforms that promote this type of community interaction including Yelp, Google Reviews, TripAdvisor, and Zomato to name but a few!

Transnational sales:

Defining transnational sales and considering why start-up and small firms internationalize.

It is a marketing strategy that promotes goods and services to increase sales of specific products by using a multinational team of people from different regions. This strategy enables firms to tap into the local market for each region.

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Startups are great opportunities if you’re looking for something with little start-up costs, such as e-commerce businesses or apps. They don’t require much in the way of assistance since most small business owners also perform many roles, be they sourcing hardware, talent recruitment, administration and accounting duties, etc … In effect, it’s possible to get rich quick but luck does have some influence on what type of success is met.

Smaller firms under 50 employees can work on smaller limited budgets with a vastly reduced headcount meaning annual profits can be reinvested.

However, business startups don’t come into existence overnight. They require time to research and market entry planning, development of the plan (prototype), raising funding for the project, setting up legal structures such as LLC or Corporation with potential IP protection through patents or trademarks being applied for. Startup costs also include equipment acquisition fees from storage devices to analytics tools and associated applications; software licenses typically cost between $50 – 75 USD per seat with annual recurring fees on top of that not to mention hardware for employees/contractors as well as marketing budgeting derived from these expenses.

Preparing to sell and source transnationally and application of the stage model of internationalization.

Preparing to sell and source transnationally is challenging. The process can be made easier with the use of a stage model that breaks down the process into manageable phases.

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The first step in the internationalization process is understanding your company’s current environment, which includes analyzing your industry as well as competitors and other environmental factors.

This phase also involves identifying strengths and weaknesses for potential opportunities overseas. By considering these factors you will be able to identify where you would like to explore business development next, such as markets or countries, depending on what best aligns with your company’s goals.

The process of exporting and key considerations

The first step of exporting is deciding on the size and shape of the box that you would like to create. The dimensions will dictate how much packing material and thus weight will need to be purchased for this project, so be sure to consider this upfront.

There are two primary shapes available: rectangle or square.

Rectangle boxes tend to have a bit more space than a square because there is more surface area around them, meaning a person can potentially get away with using less packing material as well as resulting in a lighter box weight at the end (and higher cost per unit of shipping).

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Square boxes work better when heavier or larger items are being shipped because they better fill their space, making it easier for shippers machines such as forklifts to move them around and stack.

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