Definition everything to convince the client to do business

Definition of Relationship management:

        Relationship management is to be in control
and insure continuance of communication between the company and its audience especially
customers and it also can be through other businesses. And it’s considered as
an 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 spot
cross-sales of goods and services.

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!

order now

  Relationship Managers task:

     A relationship manager’s work is to gain
customers since  they are the base of
business success for example people go to banks because of the business they
give them like money transfer and deposits or loans so relationship managers
are required to have a good relation with their clients so they must understand
some points like their customers character, past investment experience, and
task. And that may require relationship managers to go out with their clients
on lunch or some other events, especially with heir rich customers, then there
is sales and revenue that are considered the most important task in
relationship management work since all businesses are based on bringing
acceptable sales and revenues to grow it. This task takes all the relationship
managers time in preparing portfolios about how to increase the sales and
revenues of their business and after that they must try everything to convince
the client to do business with them. Beside customers and portfolio management,
since they spend a lot of their time trying to please their customers and
trying to know them more, beside managing their funds  and giving solutions that fit them. More
relationship managers must be trained to develop their abilities to satisfy
their customers. Finally relationship managers are responsible of the finance besides
customer’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 skills
like inspiration skill which’s based on other people’s intelligence when they
face certain situations, by listening and over seeing their opinions and
letting them be a part of the task, and then there’s influence skill which is
based on listening others, take their emotion in to consideration and letting
them feel appreciated, while developing skill that is an important skill in
relationship management is to know others accomplishments and giving them a
supportive comment, and by that the employees will be more productive because
they will feel noticeable and appreciated. Initiating change skill which
trigger status quo, is that managers should do change in their business and if
change happens they must adapt with it to continue. Finally there is teamwork
skill, which can give higher performance and good results and it also embrace supporting
and rewording them.

     Customer Relationship Management:

      And this type of management at the customer
level is known with Customer relationship management (CRM) that refers to the
roles that frame the interaction between the company and its customers through
sales, services and by analyzing their behavior. This interaction is known as
customer service which is the actions that any employee do when they are
dealing with customers to improve their experience with a main goal which is customer’s
satisfaction. More customer service manager or a CRM is a person who should
know their customers’ requirements and they should deliver them satisfaction by
resolving their issues. A CRM manager works with a marketing staff aiming to
create a life time customers.

Relationship Management job: 

     Beside that this
position requires good information about budgeting and forecasting, and it is also
in charge of retention campaigns, which includes giving ideas and preparing
plans, beside observing the manufacturing process and monitoring
implementation. More this position asks the manager to do some work like putting
some strategic plans to solve the issues that may affect customer’s
satisfaction and loyalty, and by solving these issues the revenue of the
company will boost beside earning a comparative advantage in the market. Then they
must see if the CRM data they have can repair the issues they are facing, and
then choosing the right technology stage and see the expense of implementing it
and train their employees to use it,  and
then weigh if the expense that they put  gave them a pleased result, beside constructing
a motivating  program to be sure that
people will be a part of CRM program, 
since many companies saw that when the company focuses its work on
customer centered structure the CRM will be much better, and finally they need
to see the CRM program progress and its impact on the company by monitoring the
involvement of people in this program and put a measuring system to see the
progress of the profit by using CRM. And once you collect all the informations
tell your employees to encourage them work more, since they are seeing that
their work is giving some good results.



 CRM Software:

     After the growth of internet every company got
its own customer data that they need to keep it secure from danger that may
threaten it, since these data may contain personal informations, and these
informations are collected by using CRM software that is considered the best
innovation recently, and it’s a helpful toll for managers and especially for
top managers that can help them overcome their issues, and oversee the future
of the company’s work, by giving them the chance to keep in contact with their
customers, and since CRM involves all the customers’ data so companies use
these informations to resolve the issues that may create barriers between them
and their clients preventing them to communicate in an effective way, in that
way companies can capture more customers by providing satisfaction and making
them feel notable, which in turn boosts their profit, Beside that this software
can help the company to know what to advertise and where to advertise it, and making
marketing campaigns more effective. But sometimes CRM may not work in a company
because they may fail in preparing the CRM Review system, that’s by failing to
combine all departments that need to know the information that helps them in being
more effective.

Relationship Management Problems:

    There are some problems
that may face Customer relationship managers while doing their job, they may face
a problem in employees performance like laziness, poor communication skills,
moodiness, and inability to handle stress, which many managers conceder them major
problems that may consume their time, while these problems can be stopped by
just selecting more effective practices and by putting specific expectations,
and if the problem isn’t solved then you need to implement a method that is
clear and framed by time. The second problem may be terminating an employee
which is considered a major problem that managers can’t neglect but to solve it
make sure you have a clear rule and good training, beside using a clear and
helpful process. And there’s doing something Unethically, if u did anything
wrong in your work you should clean it up and confirm it, but never try to
cover it up because covering it up is worse than the mistake it self . And if
your worker screwed up take the problem in an easy way then ask for a help from
the HR or from a compliance team. More there is management philosophy that may
be considered sometimes as a barrier that prevents CRM from delivering
excellent customer service because it might make it hard for a client that have
a problem to interact with the person that can help them in solving it and
that’s beside restrictive company’s policy, lack of understanding, company’s
warranties are difficult to be understood beside other barriers.

What should Customer Relationship manager know to take solution?

      For a customer
relationship managers to solve these problems that may get in their way, they
must know certain things to get an effective solution like they need to take in
consideration what is the size of the company they’re managing since every
company have its own necessities when it comes to solutions, your CRM must not
only 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 your
future plans for your business. Second you must know how much expense your firm
can hold since customer relationship management can expend fast, so you have to
be conscious about every additional cost you are putting to not let your
expenses eat your profit. And you should know how much time you have to
implement your solution since you may have short time to accomplish your
solution or you may have plenty of time so you may need someone help to operate
your accomplishment in the chosen time. Beside knowing  how much is the capability of your CRM, like
there are some organizations that needs their CRM to find solution for all its
department so you have to take in consideration what task you want to give you
them. Finally they need have a combined solution that fits in their current
position, to do so there are some questions that you need to answer and when
you do so you can find a right solution for your company.

Customer Relationship Management is satisfying customers?

CRM work goes under the title of delivering satisfaction for their customers,
they must understand their customers, by understanding what they actually wish
for, then take it in to consideration and take actions and give alternatives
based on it.  They need access by giving
their customer varies means of communication to keep in touch with them in a
fast efficient way. And they need to show respect to their clients since
customers 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 clients
should be simple so that they feel relaxed and comfortable in doing business
with you so that making business with competitors will be like putting an
effort for them. Plus empower your staff so that they can solve some problems
immediately beside giving them the ability to offer some discounts or some
certain type of a service for customers to prevent them from going to your
competitors. Plus they need to let their customers feel special which is known
by personalization and that’s by sending them personalized massages or email
just 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 are
manufacturing this product or giving this service for the market so they need
to know what it has for them, so they need to execute their customers to be
dedicated to their brand or service and they can starch the amount of time in
which your product can be used, they can do so by offering discounts or by
helping customers do more knowledgeable buying decisions. And they must never
let their brand or service be extent in the market for a long time because
customers whenever they see that a certain product or service is not founded in
the market for a long time they automatically turn to use the substitute
product or service, so by that the company will lose its clients because they
started doing business with their competitors which will lead to a drop in the
company’s revenue.

customer service and the cost of bad customer service:    

    excellent customer
service is so rare and that’s may be because of 
unwell trained employees and bad management system or it can be because
employees are not satisfied and  don’t
feel like they are part of the company they are working in, and that’s
considered one of the main reasons of  poor
customer service since in order to satisfy external customers and give them
good customer service you need to satisfy you internal customers which are your
employees and if you don’t the poor customer service that will be delivered to
your  clients may lead you to lose your
business and that’s by losing your  customers, like companies may lose their
current customers, who are forgiving and loyal to their brand beside losing
potential customers because when a new customer that wants to do business with
you finds that they are not notable or appreciated they might change their mind
before even purchasing or knowing more about your product and if that happens
it should be an alarming sign that your customer service is weak and needs to
improve before it’s too late, and beside that you may even lose your future
customers because people tell each other about the experience they had by doing
business with you so that if their experience wasn’t that good so they will
form negative expectation about your company which will prevent them from  doing business with you. More they may lose
their reputation having a bad reputation in the market it won’t just make them
lose their customers it will prevent other companies do business with them and
plus they will also lose good employees that might consider that if the
customers are treated poorly then they will be to. And more they will lose
their employees because unsatisfied customers may be angry and yell on the
employee and of course they don’t like to be yelled at even if they were the
problem so they might quit their jobs which will lead the company to higher new
employees and train them so that will lead customers to question the stability
of their business. Finally all this will lead to the loss of profit since
reduced customer service will lead to loss of customers which will lead the
company to spend more money on training its employees to provide good customer
service to save itself from drowning but this type of expense in a company that
have weak communication with the market may lead it to lose its business
because they couldn’t supply the market with their brands and services.



Customer Relationship Management Challenges:

  CRM managers may face some
challenges in their job like they should try to manage the reputation of their
company, because reputation can build or break a business, reputation
management can be through putting a plan to maintain or improve the company’s reputation
in the market and it let them know how the company is truly recognized in the
market. But when a company has a good image in the market it doesn’t mean that
it has a good reputation, for a company to have a good reputation it should
have some characteristics like being trust worthy, responsive, and ethically
responsible. Beside that a CRM should take in to consideration the word of a
mouth advertisement because it can spread fast between people and it have an
impact on the company more than the commercials that they spend thousands of
dollars on it to form a good image for their company in the market, since word
of a mouth advertisement is the most convincing form of advertisement, because it’s
based on the customers experience with a certain company.

relationship Management Skills: 

      Moreover customer
relationship management skills can help to improve your business performance
and to improve your company’s reputation like to be Aware of customers needs if
you don’t know what are your consumers requirements you may find it difficult
to impress hem. But by knowing what the market wants you can easily reveal your
value to view and create relationships. Beside that know what your target
segment wants you can make a survey by using online surveys or interview forms
of survey, which can help you know what to market by gathering some
informations about the things they value. Second there is direct marketing
skills a lot of companies watch the amount of money they spend on pleasing
their customers but they give all the time they need to please them, by being
able to measure your value of your time you can easily calculate the
relationship management (RIO), plus try to improve your sales conversion rate
so it become more easy to build a relationship with new customers beside
maintaining the bond with your existing customers.  More we know that time is money, which means
by spending a valuable time in customer service you can increase the amount of
revenue on investment in this field. And then there is the ability to connect
with strangers which isn’t an easy task but it’s important since the ability to
adaptation and influence makes relationship management easier. Then Ambition
and motivation which is important to succeed in a business and it makes
communication with customers more comfortable, since customer service and
online support will make your customers feel that they respected. And sales
funnel knowledge by having the ability to grab new customers and keep the
existing 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 your
customer service is good you are obliged to put a strategy so that you can
solve all the frequent issues in a simple rule. Big picture that is knowing
where your company sits in the market. More over you have to be friendly, being
both friendly and professional when doing business with other companies is a
succeful way of managing. Finally there is research skill is the ability to
research your target segment and knowing how to communicate with them is
important to form a relationship, to do so you can outsource



What is a BRM?

  While at the business level
it’s known as business relationship management (BRM), which is understanding
and supporting activities to receive information and services, then distributing
them through networks, considering online network the main stage. conducting
business relationship.

      How BRM and CRM are alike and the main roles of BRM:

      BRM has its extraction of CRM since somehow
they have the same content, a CRM is to deal with external customers while BRM
is 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 business
has to combine between them, since companies needs a provider who is always
available and have low price beside other factors, so that they can provide
their 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 an
effective way, besides putting strategic plans to reach a point where the
company works with a group effort and have an innovational culture. Beside that
BRM is a person who owns principle-level of association and serves, working to meet
a specific purpose, to do so they must grow and shape demand which insure that
the business plans they are putting load the providers capability and that the
providers capability can follow up with the plan they have put beside making
sure that the companies’ offers are accepted and known in the market, and this
is by having an effective relationship management. Moreover this position also
requires some skills to accomplish it, like having a strong communication,
strategic thinking, and influential relationship-building. A BRM can help stakeholders
to evaluate and develop high value relationships throughout network.

    Business Relationship Management problems:   

      Like every management position, a business
relationship managers face some barriers that prevent them from doing their job
like introducing a new BRM team onto the organization that may be challenging
so BRM manager should be understanding, to do so managers needs to put a clear
plan for their team beside communicating with an effective way with the rest of
the company. And that’s besides trying to improve the BRM capabilities, which
is challenging to the managers so they need to know what is the companies aim
beside having a strict BRM manager. They must focus on management
communications instead of focusing on their own skill. To prevent this issue
managers can use roadmap discussion besides putting clear goals and some
specific activities that help the team work in an effective way. And finally sometimes
an 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 it
requests BRMs to be aware of certain situations for example economic and
technological situations and to think deeply in investment ideas through
realization and optimization.