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Impacts of Digital Technology in Customer Relationship Management

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Added on  2020-12-28

Impacts of Digital Technology in Customer Relationship Management

   Added on 2020-12-28

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Investigate the impacts ofdigital technology in customerrelationship management(CRM) Systems
Impacts of Digital Technology in Customer Relationship Management_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK ..............................................................................................................................................1Impact of digital technology on Customer Relationship Management (CRM).....................1Types of customer relationship management system: .................................................1Features of customer relationship management system:...............................................2Reasons why digital technology is important in developing customer relationships...2Use of different social media platforms in awaring customers about products and services:3How digital content, speed and consistency impact on business:.................................3CONCLUSION................................................................................................................................4REFERENCES................................................................................................................................5
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INTRODUCTIONCustomer Relationship Management refers to an approach of managing firm's interactionwith its current and potential clients (Khodakarami and Chan, 2014). It uses analysis of dataabout customer's history with firm to enhance their business relationship with clients, particularlyfocusing on their needs which ultimately drives sales growth. In the present assignment, chosenorganisation is Hotel Crowne Plaza which is headquartered in United Kingdom and offerscatering services to customers. This report covers impact of digital technology on customerrelationship management. TASK Impact of digital technology on Customer Relationship Management (CRM)Customer Relationship Management is defined as the business practice of encouragingand maintaining relationship with client through several practices, platforms and technologies.Digital technology highly impacts on CRM system of an organisation as it helps in interactingwith large number of customers and knowing their needs and demands as well. Types of customer relationship management system: Operational CRM: It is defined as the services that enables firm to take care of itscustomers. This business aspect gives support to different processes involving marketing,sales and services. For instance: call centres, data aggregation system etc. Application ofoperational CRM tool can assists manager of Hotel Crowne Plaza in resolving variousissues like high customer turnover, increase in service costs etc. High technologyexpertise can provide them access to all information related to customers and alsoprovides firm a clear view of their needs and requirements (Malthouse and et. al., 2013). Analytical CRM: It denotes the organized electronic evaluation of collected customerdata. In this, data related to customer interaction is collected by firm with the objective ofincreasing satisfaction of consumers and their retention rate. It is a behind the scenesprocess in which client is not aware that their interactions and actions with firm are beinganalysed and captured. This system helps manager of Hotel Crowne Plaza in predictingcustomer trends and offering products that attracts the customers more. Collaborative CRM: In this system, different departments of firm like technical support,marketing and sales, share any information related to customers that they receive frominteraction with them. For instance: Feedbacks of clients collected from technical support1
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