Customer Relationship Management

Nowadays many definitions on Customer Relationship Management exist. Within Crowne Associates we decided not to come up with a new definition. We found a definition, which describes exactly our view on CRM.
We adapted a definition of Gartner Group Inc. (1999).

Customer Relationship Management is a customer focussed business strategy designed to optimize profitability, revenue and customer satisfaction.

Bottom line for all organizations is profitability, which is achieved by assuring a certain level of revenue. Customer satisfaction is the driver to make sure enough revenue is generated over a period of time.

Therefore the reason for starting a CRM initiative can be found within the customer (whether consumer or business) and it's environment.
Therefore we recognize three area's which should be studied for each specific product/market.

1. Social economical developments
For consumer market this consists of socio demographics, market behaviour trends, self confidence and satisfaction criteria.
For business market we can distinguish more partnerships, more diverse DMU, information overload, insecurity, constantly changing markets, growing mobility and more cost / value driven policy.
2. The new customer
The new customer is better qualified, more conversant, impatient, critical and will require an individualistic approach in a 24-hour society.
3. Technique
A lot of new media are evolving like Internet, smartphone and web-TV.
Another important development is the use of new payment services like "digi-dollars" and chipcard.