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A Must Have Business Tool for Better Sales and Satisfied Customers

A Must Have Business Tool for Better Sales and Satisfied Customers

It is the goal of every business to increase their efficiency and to free up the time of their team. To achieve the efficiency, it is important that you have a system that can not only protect the database of customers but is also easily adaptable for your associates.

CRM stands for ‘customer relationship management’. CRM softwares help businesses in maintaining a healthy relationship with the customers. It can accomplish tasks automatically and integrate data from other areas of business without any extra work burden. It is important to choose a suitable CRM for your business, and certain important factors should be considered before you make your choice.

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1. Important Key Factor for your Business

Customer relationship management is the key element of the firm’s operations. Most of the strategic decisions rely on the feedback provided by the target market. If a company manages its customer relations, then it will be beneficial to their long-term survival. There are different CRM techniques that help any business gain sustainable competitive advantage. Customer relationship management can help any company to search for the innovative ideas based on the opinion of the customers.

2. A Source of Sustainable Competitive Advantage

This sustainable competitive advantage helps the company establish their strong position in the market or the industry. Therefore, we can say that maintaining the customer relationships should be the most important objective for any business just because of its importance and the long term advantages and benefits. In this article, we will focus on the customer relationship management (CRM) concepts and its strategies, tools and techniques along with the implications and benefits.

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3. Global Significance of Customer Relationship Management

The globalization of the markets has made it very easy for the firms to find target customers. Companies can satisfy these clients and thus gain loyalty from them. Global market helps to serve a stronger customer base, and thus these customers will be more satisfied with the company services. Another advantage of the globalization is that it may help companies to adopt newer strategies to serve the clients in the best possible way.

Customer relationship management is very necessary for the long-term survival of the enterprise because it can track the feedback of the customers. This feedback helps the firms and the executive management to modify their operations and strategies. This feedback tells the companies about the desires and demands of the targeted customers. It is necessary for the firm to pinpoint the needs and requirements of the target customers while gaining a sustainable competitive advantage in the international market. Successful CRM helps companies to provide the required efficiency to the firm’s operations because of the timeliness of the client feedback. We can say that knowing your customer is the most important key to success or being competitive in the market.

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Deliberate all of the three pillars mentioned above before considering the implementation of CRM.

Advantages and Objectives of CRM

If any firm is capable of successfully implementing the CRM tools in the company, then it will gain many of the benefits in the future development.

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  • One satisfied customer will bring three more customers
  • Increase in recurring sales because of the client satisfaction
  • Regular customers will not bother to be price sensitive because of their trust
  • Customer-oriented companies can gain a competitive advantage in the market
  • There may be a fall in the operating costs

Therefore, we can say the CRM can be a source of profitability for the firm if implemented in a proper way. The primary objectives of the application of customer relationship management in the company are;

  • Customer orientation
  • Increased Product Quality
  • Service Performance
  • Customer Satisfactions
  • Customer Retention
  • Customer Value
  • Overall Success of the Company

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Last Updated on March 29, 2021

5 Types of Horrible Bosses and How to Beat Them All

5 Types of Horrible Bosses and How to Beat Them All

When I left university I took a job immediately, I had been lucky as I had spent a year earning almost nothing as an intern so I was offered a role. On my first day I found that I had not been allocated a desk, there was no one to greet me so I was left for some hours ignored. I happened to snipe about this to another employee at the coffee machine two things happened. The first was that the person I had complained to was my new manager’s wife, and the second was, in his own words, ‘that he would come down on me like a ton of bricks if I crossed him…’

What a great start to a job! I had moved to a new city, and had been at work for less than a morning when I had my first run in with the first style of bad manager. I didn’t stay long enough to find out what Mr Agressive would do next. Bad managers are a major issue. Research from Approved Index shows that more than four in ten employees (42%) state that they have previously quit a job because of a bad manager.

The Dream Type Of Manager

My best manager was a total opposite. A man who had been the head of the UK tax system and was working his retirement running a company I was a very junior and green employee for. I made a stupid mistake, one which cost a lot of time and money and I felt I was going to be sacked without doubt.

I was nervous, beating myself up about what I had done, what would happen. At the end of the day I was called to his office, he had made me wait and I had spent that day talking to other employees, trying to understand where I had gone wrong. It had been a simple mistyped line of code which sent a massive print job out totally wrong. I learn how I should have done it and I fretted.

My boss asked me to step into his office, he asked me to sit down. “Do you know what you did?” I babbled, yes, I had been stupid, I had not double-checked or asked for advice when I was doing something I had not really understood. It was totally my fault. He paused. “Will you do that again?” Of course I told him I would not, I would always double check, ask for help and not try to be so clever when I was not!

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“Okay…”

That was it. I paused and asked, should I clear my desk. He smiled. “You have learnt a valuable lesson, I can be sure that you will never make a mistake like that again. Why would I want to get rid of an employee who knows that?”

I stayed with that company for many years, the way I was treated was a real object lesson in good management. Sadly, far too many poor managers exist out there.

The Complete Catalogue of Bad Managers

The Bully

My first boss fitted into the classic bully class. This is so often the ‘old school’ management by power style. I encountered this style again in the retail sector where one manager felt the only way to get the best from staff was to bawl and yell.

However, like so many bullies you will often find that this can be someone who either knows no better or is under stress and they are themselves running scared of the situation they have found themselves in.

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The Invisible Boss

This can either present itself as management from afar (usually the golf course or ‘important meetings) or just a boss who is too busy being important to deal with their staff.

It can feel refreshing as you will often have almost total freedom with your manager taking little or no interest in your activities, however you will soon find that you also lack the support that a good manager will provide. Without direction you may feel you are doing well just to find that you are not delivering against expectations you were not told about and suddenly it is all your fault.

The Micro Manager

The frustration of having a manager who feels the need to be involved in everything you do. The polar opposite to the Invisible Boss you will feel that there is no trust in your work as they will want to meddle in everything you do.

Dealing with the micro-manager can be difficult. Often their management style comes from their own insecurity. You can try confronting them, tell them that you can do your job however in many cases this will not succeed and can in fact make things worse.

The Over Promoted Boss

The Over promoted boss categorises someone who has no idea. They have found themselves in a management position through service, family or some corporate mystery. They are people who are not only highly unqualified to be managers they will generally be unable to do even your job.

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You can find yourself persistently frustrated by the situation you are in, however it can seem impossible to get out without handing over your resignation.

The Credit Stealer

The credit stealer is the boss who will never publically acknowledge the work you do. You will put in the extra hours working on a project and you know that, in the ‘big meeting’ it will be your credit stealing boss who will take all of the credit!

Again it is demoralising, you see all of the credit for your labour being stolen and this can often lead to good employees looking for new careers.

3 Essential Ways to Work (Cope) with Bad Managers

Whatever type of bad boss you have there are certain things that you can do to ensure that you get the recognition and protection you require to not only remain sane but to also build your career.

1. Keep evidence

Whether it is incidents with the bully or examples of projects you have completed with the credit stealer you will always be well served to keep notes and supporting evidence for projects you are working on.

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Buy your own notebook and ensure that you are always making notes, it becomes a habit and a very useful one as you have a constant reminder as well as somewhere to explore ideas.

Importantly, if you do have to go to HR or stand-up for yourself you will have clear records! Also, don’t always trust that corporate servers or emails will always be available or not tampered with. Keep your own content.

2. Hold regular meetings

Ensure that you make time for regular meetings with your boss. This is especially useful for the over-promoted or the invisible boss to allow you to ‘manage upwards’. Take charge where you can to set your objectives and use these meetings to set clear objectives and document the status of your work.

3. Stand your ground, but be ready to jump…

Remember that you don’t have to put up with poor management. If you have issues you should face them with your boss, maybe they do not know that they are coming across in a bad way.

However, be ready to recognise if the situation is not going to change. If that is the case, keep your head down and get working on polishing your CV! If it isn’t working, there will be something better out there for you!

Good luck!

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