CLIENT RELATIONSHIP MANAGEMENT
(CRM)

Most organisations have to try and balance the needs, or expectations, of both their customers and suppliers. Customers prefer to receive a variety of services, or products, when they need them. However, suppliers may have limited availability of the products that are needed to support the customers. It is therefore essential that the best balance is maintained by the organisations, in order to maintain good relationships with both customers and suppliers. The provision of good customer care is essential to maintain the balance between the demands of customers and suppliers. 

Retention of existing customers is very important. Research indicates that it can cost many times more to obtain a new customer than to retain an existing customer. Customer retention can be achieved by ensuring that customers continue to use existing services, as well as ensuring they partake in new services when introduced. Both of these can be helped by the provision of discounts, bonuses or special services, to existing customers. High levels of customer retention will help to reduce costs as well as provide customer loyalty and further customer recommendations.

Maintaining good relationships with suppliers is also important. A good relationship with a supplier will allow problems to be shared and a win - win situation to be maintained. The relationship with suppliers can also  influence levels of credit and stock availability, helping to reduce costs and improve the services provided to customers. 

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Some examples of the CRM related  work undertaken by Migrators are shown in the Assignments  web pages.