Customer Relationship Management in IBM Essay Example | Topics and Well Written Essays - 1250 words

Customer Relationship Management in IBM - Essay Example The paper tells that â€Å"premier relationship companies† are those organizations that successfully develop good relationships with the customers by creating an appropriate cost structure and business arrangement. An organization which can successfully attain new customers and make them loyal can be termed as a premier relationship company. It generates good value for the company in the market. The relationship between an organization and its customers provides a framework for developing a â€Å"premier relationship company† which is mutually beneficial for customers as well as for the business. Developing as a good â€Å"premier relationship company† begins with creating effective association with the customers. In order to enhance the relationship there is need for understanding their requirements and provide personalized products or services accordingly. Conducting dialogue with customers can provide information through exchanging opinions in the form of ment al association. By the use of explicit bargains, organizations can manage all the queries of customers and accordingly collect related information about them so that their requirements are recognized. For any organization to engage explicitly with the customers there must be a mutually beneficial dialogue between them. There are several ways that organizations can communicate with the customers e.g. cooperative communication technologies. The cooperative communication technologies are considered as significant mechanisms for creating explicit bargains. They can interact with customers directly though utilizing separate media. An explicit bargain is a kind of agreement that an organization makes with the customers to save their time, get their attention and receive their feedback. In explicit bargain, dialogue and interaction play vital parts in order to boost the relationships. Explicit bargain techniques are valuable for an organization to recompense the customers in the form of of fering discounts, refunds and better facilities, in return for the involvement in the interchange process. Organizations use websites, e-mails, voice calls and text messaging among others for creating explicit bargains, with the desire for making consumers realize advertising communications and react to the marketing and sales promotion offers (Peppers, D. & Rogers, M., â€Å"Managing Customer Relationships: A Strategic Framework†). Explicit Bargain in IBM The customer relationship management strategies help IBM to enhance the relationship with the customers. In order to make explicit bargain, IBM uses online strategies such as social networking strategies and loyal chat room, and provides the customers the opportunity to give feedbacks and opinions regarding the products and the services. The websites of IBM can respond to the e-mails send by the customers who desire for gaining information. IBM maintains constant dialogue with their customers and constantly examines the com munication with them. It helps to monitor the views of the customers and thereby develop products or modify them according to their