Definition of Relationship management: Relationship management is to be in controland insure continuance of communication between the company and its audience especiallycustomers and it also can be through other businesses. And it’s considered asan important type of management that is needed in every company to insure its process.This type of management focuses on financial and investing activities to spotcross-sales of goods and services. Relationship Managers task: A relationship manager’s work is to gaincustomers since they are the base ofbusiness success for example people go to banks because of the business theygive them like money transfer and deposits or loans so relationship managersare required to have a good relation with their clients so they must understandsome points like their customers character, past investment experience, andtask. And that may require relationship managers to go out with their clientson lunch or some other events, especially with heir rich customers, then thereis sales and revenue that are considered the most important task inrelationship management work since all businesses are based on bringingacceptable sales and revenues to grow it. This task takes all the relationshipmanagers time in preparing portfolios about how to increase the sales andrevenues of their business and after that they must try everything to convincethe client to do business with them.
Beside customers and portfolio management,since they spend a lot of their time trying to please their customers andtrying to know them more, beside managing their funds and giving solutions that fit them. Morerelationship managers must be trained to develop their abilities to satisfytheir customers. Finally relationship managers are responsible of the finance besidescustomer’s data and if there is anything wrong with them they have to solve it. Relationship Management Skills: And this type of management requires some skillslike inspiration skill which’s based on other people’s intelligence when theyface certain situations, by listening and over seeing their opinions andletting them be a part of the task, and then there’s influence skill which isbased on listening others, take their emotion in to consideration and lettingthem feel appreciated, while developing skill that is an important skill inrelationship management is to know others accomplishments and giving them asupportive comment, and by that the employees will be more productive becausethey will feel noticeable and appreciated. Initiating change skill whichtrigger status quo, is that managers should do change in their business and ifchange happens they must adapt with it to continue. Finally there is teamworkskill, which can give higher performance and good results and it also embrace supportingand rewording them. Customer Relationship Management: And this type of management at the customerlevel is known with Customer relationship management (CRM) that refers to theroles that frame the interaction between the company and its customers throughsales, services and by analyzing their behavior. This interaction is known ascustomer service which is the actions that any employee do when they aredealing with customers to improve their experience with a main goal which is customer’ssatisfaction.
More customer service manager or a CRM is a person who shouldknow their customers’ requirements and they should deliver them satisfaction byresolving their issues. A CRM manager works with a marketing staff aiming tocreate a life time customers. CustomerRelationship Management job: Beside that thisposition requires good information about budgeting and forecasting, and it is alsoin charge of retention campaigns, which includes giving ideas and preparingplans, beside observing the manufacturing process and monitoringimplementation. More this position asks the manager to do some work like puttingsome strategic plans to solve the issues that may affect customer’ssatisfaction and loyalty, and by solving these issues the revenue of thecompany will boost beside earning a comparative advantage in the market.
Then theymust see if the CRM data they have can repair the issues they are facing, andthen choosing the right technology stage and see the expense of implementing itand train their employees to use it, andthen weigh if the expense that they put gave them a pleased result, beside constructinga motivating program to be sure thatpeople will be a part of CRM program, since many companies saw that when the company focuses its work oncustomer centered structure the CRM will be much better, and finally they needto see the CRM program progress and its impact on the company by monitoring theinvolvement of people in this program and put a measuring system to see theprogress of the profit by using CRM. And once you collect all the informationstell your employees to encourage them work more, since they are seeing thattheir work is giving some good results. CRM Software: After the growth of internet every company gotits own customer data that they need to keep it secure from danger that maythreaten it, since these data may contain personal informations, and theseinformations are collected by using CRM software that is considered the bestinnovation recently, and it’s a helpful toll for managers and especially fortop managers that can help them overcome their issues, and oversee the futureof the company’s work, by giving them the chance to keep in contact with theircustomers, and since CRM involves all the customers’ data so companies usethese informations to resolve the issues that may create barriers between themand their clients preventing them to communicate in an effective way, in thatway companies can capture more customers by providing satisfaction and makingthem feel notable, which in turn boosts their profit, Beside that this softwarecan help the company to know what to advertise and where to advertise it, and makingmarketing campaigns more effective. But sometimes CRM may not work in a companybecause they may fail in preparing the CRM Review system, that’s by failing tocombine all departments that need to know the information that helps them in beingmore effective. CustomerRelationship Management Problems: There are some problemsthat may face Customer relationship managers while doing their job, they may facea problem in employees performance like laziness, poor communication skills,moodiness, and inability to handle stress, which many managers conceder them majorproblems that may consume their time, while these problems can be stopped byjust selecting more effective practices and by putting specific expectations,and if the problem isn’t solved then you need to implement a method that isclear and framed by time. The second problem may be terminating an employeewhich is considered a major problem that managers can’t neglect but to solve itmake sure you have a clear rule and good training, beside using a clear andhelpful process. And there’s doing something Unethically, if u did anythingwrong in your work you should clean it up and confirm it, but never try tocover it up because covering it up is worse than the mistake it self .
And ifyour worker screwed up take the problem in an easy way then ask for a help fromthe HR or from a compliance team. More there is management philosophy that maybe considered sometimes as a barrier that prevents CRM from deliveringexcellent customer service because it might make it hard for a client that havea problem to interact with the person that can help them in solving it andthat’s beside restrictive company’s policy, lack of understanding, company’swarranties are difficult to be understood beside other barriers. What should Customer Relationship manager know to take solution? For a customerrelationship managers to solve these problems that may get in their way, theymust know certain things to get an effective solution like they need to take inconsideration what is the size of the company they’re managing since everycompany have its own necessities when it comes to solutions, your CRM must notonly know how to guide you to the solution but also how to be good in ranking.The solution must be flexible and keeps a place to be innovative, more make sure that your solution meats yourfuture plans for your business.
Second you must know how much expense your firmcan hold since customer relationship management can expend fast, so you have tobe conscious about every additional cost you are putting to not let yourexpenses eat your profit. And you should know how much time you have toimplement your solution since you may have short time to accomplish yoursolution or you may have plenty of time so you may need someone help to operateyour accomplishment in the chosen time. Beside knowing how much is the capability of your CRM, likethere are some organizations that needs their CRM to find solution for all itsdepartment so you have to take in consideration what task you want to give youthem. Finally they need have a combined solution that fits in their currentposition, to do so there are some questions that you need to answer and whenyou do so you can find a right solution for your company. HowCustomer Relationship Management is satisfying customers? SinceCRM work goes under the title of delivering satisfaction for their customers,they must understand their customers, by understanding what they actually wishfor, then take it in to consideration and take actions and give alternativesbased on it. They need access by givingtheir customer varies means of communication to keep in touch with them in afast efficient way.
And they need to show respect to their clients sincecustomers needs to be valued and recognized in order to earn their trust,loyalty and to do business with them. The company’s business with their clientsshould be simple so that they feel relaxed and comfortable in doing businesswith you so that making business with competitors will be like putting aneffort for them. Plus empower your staff so that they can solve some problemsimmediately beside giving them the ability to offer some discounts or somecertain type of a service for customers to prevent them from going to yourcompetitors. Plus they need to let their customers feel special which is knownby personalization and that’s by sending them personalized massages or emailjust to let them feel important.
And they need to understand the needs of the customer,since they may send some hidden massage that you must be aware of. Customer Relationship Manager Offers and Customers: CRMs know that they aremanufacturing this product or giving this service for the market so they needto know what it has for them, so they need to execute their customers to bededicated to their brand or service and they can starch the amount of time inwhich your product can be used, they can do so by offering discounts or byhelping customers do more knowledgeable buying decisions. And they must neverlet their brand or service be extent in the market for a long time becausecustomers whenever they see that a certain product or service is not founded inthe market for a long time they automatically turn to use the substituteproduct or service, so by that the company will lose its clients because theystarted doing business with their competitors which will lead to a drop in thecompany’s revenue. Excellentcustomer service and the cost of bad customer service: excellent customerservice is so rare and that’s may be because of unwell trained employees and bad management system or it can be becauseemployees are not satisfied and don’tfeel like they are part of the company they are working in, and that’sconsidered one of the main reasons of poorcustomer service since in order to satisfy external customers and give themgood customer service you need to satisfy you internal customers which are youremployees and if you don’t the poor customer service that will be delivered toyour clients may lead you to lose yourbusiness and that’s by losing your customers, like companies may lose theircurrent customers, who are forgiving and loyal to their brand beside losingpotential customers because when a new customer that wants to do business withyou finds that they are not notable or appreciated they might change their mindbefore even purchasing or knowing more about your product and if that happensit should be an alarming sign that your customer service is weak and needs toimprove before it’s too late, and beside that you may even lose your futurecustomers because people tell each other about the experience they had by doingbusiness with you so that if their experience wasn’t that good so they willform negative expectation about your company which will prevent them from doing business with you. More they may losetheir reputation having a bad reputation in the market it won’t just make themlose their customers it will prevent other companies do business with them andplus they will also lose good employees that might consider that if thecustomers are treated poorly then they will be to. And more they will losetheir employees because unsatisfied customers may be angry and yell on theemployee and of course they don’t like to be yelled at even if they were theproblem so they might quit their jobs which will lead the company to higher newemployees and train them so that will lead customers to question the stabilityof their business.
Finally all this will lead to the loss of profit sincereduced customer service will lead to loss of customers which will lead thecompany to spend more money on training its employees to provide good customerservice to save itself from drowning but this type of expense in a company thathave weak communication with the market may lead it to lose its businessbecause they couldn’t supply the market with their brands and services. Customer Relationship Management Challenges: CRM managers may face somechallenges in their job like they should try to manage the reputation of theircompany, because reputation can build or break a business, reputationmanagement can be through putting a plan to maintain or improve the company’s reputationin the market and it let them know how the company is truly recognized in themarket. But when a company has a good image in the market it doesn’t mean thatit has a good reputation, for a company to have a good reputation it shouldhave some characteristics like being trust worthy, responsive, and ethicallyresponsible. Beside that a CRM should take in to consideration the word of amouth advertisement because it can spread fast between people and it have animpact on the company more than the commercials that they spend thousands ofdollars on it to form a good image for their company in the market, since wordof a mouth advertisement is the most convincing form of advertisement, because it’sbased on the customers experience with a certain company. Customerrelationship Management Skills: Moreover customerrelationship management skills can help to improve your business performanceand to improve your company’s reputation like to be Aware of customers needs ifyou don’t know what are your consumers requirements you may find it difficultto impress hem. But by knowing what the market wants you can easily reveal yourvalue to view and create relationships. Beside that know what your targetsegment wants you can make a survey by using online surveys or interview formsof survey, which can help you know what to market by gathering someinformations about the things they value.
Second there is direct marketingskills a lot of companies watch the amount of money they spend on pleasingtheir customers but they give all the time they need to please them, by beingable to measure your value of your time you can easily calculate therelationship management (RIO), plus try to improve your sales conversion rateso it become more easy to build a relationship with new customers besidemaintaining the bond with your existing customers. More we know that time is money, which meansby spending a valuable time in customer service you can increase the amount ofrevenue on investment in this field. And then there is the ability to connectwith strangers which isn’t an easy task but it’s important since the ability toadaptation and influence makes relationship management easier. Then Ambitionand motivation which is important to succeed in a business and it makescommunication with customers more comfortable, since customer service andonline support will make your customers feel that they respected. And salesfunnel knowledge by having the ability to grab new customers and keep theexisting ones are important and to do so you can arrange your sale funnel.Beside the strategic thinking skill which is essential skill apart from if yourcustomer service is good you are obliged to put a strategy so that you cansolve all the frequent issues in a simple rule. Big picture that is knowingwhere your company sits in the market.
More over you have to be friendly, beingboth friendly and professional when doing business with other companies is asucceful way of managing. Finally there is research skill is the ability toresearch your target segment and knowing how to communicate with them isimportant to form a relationship, to do so you can outsource What is a BRM? While at the business levelit’s known as business relationship management (BRM), which is understandingand supporting activities to receive information and services, then distributingthem through networks, considering online network the main stage. conductingbusiness relationship. How BRM and CRM are alike and the main roles of BRM: BRM has its extraction of CRM since somehowthey have the same content, a CRM is to deal with external customers while BRMis to deal with internal business partners or providers of goods and services,and the main roles of BRM are providers and consumers, in which every businesshas to combine between them, since companies needs a provider who is alwaysavailable and have low price beside other factors, so that they can providetheir clients by their product and service. Who is a BRM? A BRM can be an IT, HR, Finance, sales or external,with a main goal that is to combine business functions so that they work in aneffective way, besides putting strategic plans to reach a point where thecompany works with a group effort and have an innovational culture. Beside thatBRM is a person who owns principle-level of association and serves, working to meeta specific purpose, to do so they must grow and shape demand which insure thatthe business plans they are putting load the providers capability and that theproviders capability can follow up with the plan they have put beside makingsure that the companies’ offers are accepted and known in the market, and thisis by having an effective relationship management. Moreover this position alsorequires some skills to accomplish it, like having a strong communication,strategic thinking, and influential relationship-building.
A BRM can help stakeholdersto evaluate and develop high value relationships throughout network. Business Relationship Management problems: Like every management position, a businessrelationship managers face some barriers that prevent them from doing their joblike introducing a new BRM team onto the organization that may be challengingso BRM manager should be understanding, to do so managers needs to put a clearplan for their team beside communicating with an effective way with the rest ofthe company. And that’s besides trying to improve the BRM capabilities, whichis challenging to the managers so they need to know what is the companies aimbeside having a strict BRM manager. They must focus on managementcommunications instead of focusing on their own skill. To prevent this issuemanagers can use roadmap discussion besides putting clear goals and somespecific activities that help the team work in an effective way.
And finally sometimesan existing BRM team may face some challenges to be more strategically focused,which is a challenging issue that can’t be solved in an easy way, so itrequests BRMs to be aware of certain situations for example economic andtechnological situations and to think deeply in investment ideas throughrealization and optimization.