Unit 38-P6 Analyse the different techniques and methods organizations can apply to increase customer relationships and customer loyalty-BTEC-HND-Level 4 & 5

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

Customer relationship:

Customer relationship management is the process of tracking relationships with customers and involving them in the communication process thereby increasing customer loyalty.

Customer relationship management can be described as a strategy for managing a business portfolio using six steps –

1. Identify target market segments
2. Market an offer that suits that segment`s needs
3. Establish contact points such as when to contact via email etc, so you don’t annoy them too much or not enough
4. Create opportunities for feedback-speak about the product to get their opinion then ask if they want more
5. Act on feedback and adjust your marketing principles accordingly
6. Monitor what works and what doesn’t work in order to refine your customer offering

Also Read: Unit 38: Customer Value Management 

Customer Loyalty:

There are different ways organizations can increase customer loyalty. To avoid customer brand switching, the organization needs to not only be aware of their customer’s expectations but also find out what makes them happy.

For example, understanding their attachment to your company in terms of how much they enjoy it and whether there is a sense of ownership because they contributed to its development or if they feel improved health after using one of our products. It’s also crucial that the organization recognizes that proximity and recency have a substantial effect on a customer’s willingness to switch.

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