Introduction
The existing environment where businesses carry out their activity in this market due to the increasing complexity, difficulty and competitive size. From the point of view of supply, the globalization of markets and the fragmentation of demand are two trends that mark commercial activity and promote an intensification of competition at the international level.
At the same time, the current scenario is characterized by technological development that shortens the life cycles of existing products and forms the launch of new ones. Its increasing homogenization derived from the rapid advancement of technology, can also be pointed out as defining the current environment and leads companies to seek differentiation through alternative routes such as quality of service, personalized treatment or the satisfaction of customer macro segment needs..
On the other hand, information and communication technology have been the catalyst for the exponential growth experienced in recent decades, both in the quality of information available and in the means of access to it. Internet constitutes a means of information, communication, two-way communication between the company and the client. In this sense, companies are forced to adopt a proactive attitude if they want to be competitive and not settle for marginal areas of the market. There has been a change in the relationships between producers and consumers. Now the client has a higher power level compared to previous times (Butle, 2008). This change is essentially motivated by the greater availability of information. Current consumers are informed,They compare and evaluate the different alternatives in the market and demand quality and service. The consumer is critical, demanding and selective, trained and informed, who demand individualized products and services that meet their personal needs and desires; who values their free time, marked by the immediacy of delivery. It is also a client that is increasingly difficult to satisfy, and that with a single click can change suppliers, so it claims from the company an added value plus in exchange for its loyalty.It is also a client that is increasingly difficult to satisfy, and that with a single click can change suppliers, so it claims from the company an added value plus in exchange for its loyalty.It is also a client that is increasingly difficult to satisfy, and that with a single click can change suppliers, so it claims from the company an added value plus in exchange for its loyalty.
All these factors create an increasingly complicated situation in which competition in the business environment has grown to the point of thinking of the customer as a factor of scarcity. In this context, it is necessary to modify the usual strategic and management systems from a focus on the product to a new focus on the customer. Companies have been forced to reverse the order of priority to gain and retain an increasingly specialized customer. If traditional approaches focused on maximizing profit per product, in the 21st century the focus of business is the customer, around which the entire company strategy revolves. In this context,the business management philosophy called customer relationship management unites strategy and technology in order to meet the customer and institute two-way interaction and communication with the ultimate goal of improving the efficiency and effectiveness of business processes that increase the value for both the company and the customer. (Butle, 2008)
The objective of this article is to contribute to a better understanding of the meaning and implications of the CKM strategy. To do this, we contextualize this business management philosophy, make a conceptual approach, describe the different periods in its implementation and address the benefits, challenges and applications of this strategy, as well as the main lines of future research.
1. Marketing of the 19th century with media of the 21st century
At the beginning of the 21st century we revert to the marketing strategies of the small owner of the XLX century. As then, we want to go beyond the mere transaction and be complicit with our clients, create ties based on trust, agreement and loyalty. The fundamental difference between one and the other context is the number of clients and the information regarding each of them. The small number of clients enables the small owner to keep all the information regarding them in his memory. Currently, information has become a strategic category asset that makes it necessary to have information systems capable of efficiently generating, registering, analyzing, comparing and distributing all the knowledge related to clients. Effectively,efficient information management supported by new technologies will allow the company to reach the consumer with a personalized product and service, competitively and proactively serving their demand. Even in the global market it is possible to give you individualized service. The CRM tactic seeks to establish closer relationships and interactions between a company and its most important customers. More specifically, the important benchmark of the company lies in the loyalty and retention of truly profitable customers and those who have sufficient profit potential so that the company uses all its resources and thus keeps that customer linked to the organization.competitively and proactively serving your demand. Even in the global market it is possible to give you individualized service. The CRM tactic seeks to establish closer relationships and interactions between a company and its most important customers. More specifically, the important benchmark of the company lies in the loyalty and retention of truly profitable customers and those who have sufficient profit potential so that the company uses all its resources and thus keeps that customer linked to the organization.competitively and proactively serving your demand. Even in the global market it is possible to give you individualized service. The CRM tactic seeks to establish closer relationships and interactions between a company and its most important customers. More specifically, the important benchmark of the company lies in the loyalty and retention of truly profitable customers and those who have sufficient profit potential so that the company uses all its resources and thus keeps that customer linked to the organization.The important benchmark of the company resides in the loyalty and retention of truly profitable customers and those who have sufficient profit potential so that the company uses all its resources and thus keeps that customer linked to the organization.The important benchmark of the company resides in the loyalty and retention of truly profitable customers and those who have sufficient profit potential so that the company uses all its resources and thus keeps that customer linked to the organization.
CRM is a process that involves new technologies that identifies, develops, integrates and focuses different competencies of the company on the customer, in order to generate superior and long-term value to customer segments, both current and potential, perfectly identified. They believe that behind the CRM concept there are three key aspects: market orientation, information technology and integration.
The functions of identifying consumers, producing knowledge, establishing relationships with customers and modeling their perceptions of the organization and its products. Butler (2008) says that "customer relationship management is changing marketing and redefining business models."
However, the CRM is still in its definition stage; Proof of this is that an agreement has not been reached regarding its meaning, since it differs according to who deals with this concept. This translates into limited empirical research in the field of CRM strategy, as mentioned by different authors. Although there is no universally accepted academic definition of CRM, there is deep agreement regarding the principles of this concept. Seen as a propensity, CRM shares with the traditional concept of marketing a concern to satisfy customers effectively and efficiently. In fact, the common basis of different CRM definitions is the focus on customer focus and retention.
Despite the fact that the acronym CRM has been the central concept of many articles, conferences and seminars, to date the majority of them correspond to business initiatives and there is a lack of academic research (Butle 2008, Tsptsis 2010). This has placed the study of the CRM strategy as a priority line of research for the most advanced and prestigious universities (research institutes) and reputable academics.
At the corporate level, there is a strong interest in effective and efficient customer relationship management, leading to a global market for CRM-related products and services that reached $ 34 trillion in 1999 and that IDC predicts that it will reach $ 125 trillion by the end of 2004. However, few companies and organizations currently take full advantage of the potential associated with this new business strategy based on the symbiosis between technology and marketing. The vision of CRM is simple but its complex implementation, hence a large number of CRM projects fail. According to Miller (2002), approximately 70% of CRM projects either translate into losses or do not improve companies' results.
2. A journey towards the client
The creation of a CRM strategy must be a slow process and permeable to all layers of the organization, allowing the distance from the customer to be progressively reduced, until it becomes a participant in the company's activities. Many authors propose a process in several phases (for example, Butle 2008, Ueno 2003, Miller 2002). One of the most widely distributed and that meets the above characteristics is that proposed by Dunes and Anderson. These authors suggest a process that begins with the identification of the clients that we want to retain, continues with the differentiation or segmentation and the interaction with each of them, to conclude with the personalization of the offer, the service and the communication.
2.1. Customer identification
The first step in the CRM strategy is to identify the clients that we want to retain. We must focus on those with the highest current value for the company and on those with the highest potential, that is, we have to know our customers). At this point, it is necessary to remember a double aspect:
a) Not all loyal customers are profitable. Customer loyalty is a necessary state, but not enough.
In this sense, Donald and Nash warn that it is a mistake to affirm that loyal customers are always more profitable. Furthermore, intangible manifestations of loyalty are not indicative of the presence of a business-consumer relationship, unless accompanied by emotion or some other affective dimension. Lack of these emotions reduces repeated buying behavior to a mechanical process free of substantial reasons that make the consumer continue his relationship with the company. The key is to achieve sustainable consumer satisfaction; it is an emotional connection and not simply behavioral. In fact, 70% of a customer's repeated purchases from a defined company are produced by indifference, not loyalty. This is only achieved when the customer is satisfied with the product or service,but also with the treatment; Meanwhile, this indifferent customer will be vulnerable to marketing by the competition (Greenburg, 2001).
When evaluating the loyalty of a client, we must also take into account the possibilities of choice he has. In uncompetitive markets where supply is limited, customers are simply retained, even when their satisfaction level is low, due to the fact that there are few substitute products or the exchange costs are high (Rubio, 2003).
In this sense, the CRM strategy seeks customer loyalty based on their satisfaction, hence its key is to achieve customer satisfaction as the basis for stabilizing long-term relationships that translate into superior value for the company. The relationship between customer satisfaction and retention has been extensively studied and demonstrated
From the point of view of their capacity, customers are usually categorized as follows: i) profitable customers, who are the heart of business, therefore, the first objective of satisfaction and retention; it) strategic clients, they are not very profitable but they have high growth capacity, their strategic value exceeds the real value. The emphasis, in this case, is focused on increasing their relationship with the company through, for example, cross-selling, encouraging them and offering privileges, that is, investing in them to develop them; lit) unprofitable customers will probably never generate enough profit to justify the investment of offering an individualized offer. It may be worthwhile to stop investing in these types of consumers.
b) Not all clients are prepared to commit to a long-term relationship with the company. (Anderson 2001, Barniani 1997) state that consumers are motivated to engage in long-term relationships with the company to the extent that this allows them to reduce the number of options and the risk. On the contrary, other authors such as (Reyes 2001) argue that consumer satisfaction comes from the greater ability to choose between alternatives and not from their reduction. the CRM philosophy is based on providing the client, in the best possible way, the alternative that he has selected, therefore, the number of alternatives that the client can choose from does not vary, but now it has one that meets their needs and wishes better than the rest.
2.2. Customer differentiation / segmentation
Once we have identified the clients with whom we want to engage in a lasting relationship, the next goal is to deepen our knowledge about them. To have a complete knowledge we must listen to them.
It is basically about obtaining and analyzing information in a systematic way to distinguish the most valuable customers, identifying their preferences, tastes, behavior patterns, in short, it consists of highlighting the individual characteristics of the customer that make it unique. For this, statistical techniques such as cluster analysis or artificial intelligence techniques such as neural networks or genetic algorithms are used.
Differentiation establishes the basis for greater and better interaction with customers and the customization of the offer of products and services (Butle, 2008). Effective segmentation will guide customer macro segments and allow the company to understand how to reach them, it will know what products and services they are investigating, what support needs it must give them and it will understand the value of the customer; in short, it will allow you to execute a one-to-one marketing strategy.
Thus, the company will display a ranking of clients according to their value, since this evaluation concludes how much time and resources to invest in them. Efforts will be prioritized by allocating resources to ensure the loyalty and growth of the most valuable customers, and efforts will be made to meet their needs better than the competitors, distinguishing between group and individual.
2.3. Interaction with each client
If we want to achieve a 360 vision of the client, we not only have to dialogue with him but we must also interact with him. The characteristic monologue of transaction marketing is transformed into the defining dialogue of customer orientation. This is one of the most important differences between these two marketing approaches, but not the only one.
Companies must use each point of contact to get closer to the consumer, obtain information and strengthen their relationship with him. The development of consumer loyalty derives from the constant refinement and updating of the information available on specific customers, particularly their preferences, habits and purchasing and consumption patterns, trends, profiles and other specific data on individual consumers.
But we have to go further and get the client to get involved, help, participate. The goal is for you to take our side and act as a spokesperson for the company's products and services; it is accurate to get him up the 'ladder of loyalty'. It is about converting new customers into regular consumers; then, gradually, achieve that they are great defenders of the company and its products and, lastly, that they are active and influential defenders of the company, and thus have a significant role as a reference source. In fact, the number of clients that recommend the company and its products is one of the variables that is usually used to measure the success of a CRM strategy. (Greenburg 2001)
One way to stimulate loyalty is to reward the most loyal and profitable customers, reward their collaboration and make them participants in our strategies. Only in this way will we ensure that their role as spokespersons is strengthened over time and they continue to attract new clients.
2.4. Customize products, services and customer service
Based on the knowledge created in previous phases, our clients should receive personalized treatment according to their value to the company, using a massive personalization methodology.
In order to adjust our offers to the needs and wishes of the client, we need to count on their collaboration, obtain their feedback and integrate it into the company's operations to reach them with the product they want, calling them by name and by the communication channel more suitable. This personalization constitutes the greatest competitive advantage for the company and supposes an exit barrier for the client, since it has already been involved with the company and the change of supplier supposes costs obtained from the risk of substitution of a recognizable product or service for an unknown one, search time, comparison of offers and restarting the learning process of the new company about its needs, tastes and preferences.
The CRM strategy thus establishes the bases for optimizing the innovation capacity of the company and affirms that the improvements and renovations of products and services are based on the needs and preferences of the client. We go from traditional product delivery to committing ourselves to value-added relationships with the customer.
3. Potentials of CRM from a marketing perspective
The CRM strategy takes efficient information management as a starting point, which comes essentially from corporate and external databases. With this information, the company creates a ranking of current and potential customers according to their value, as well as the characteristics that define those customers who dominate the first positions in the ranking. Similarly, we can develop early warning systems to discover situations of probable abandonment or reduction in the intensity of consumption. In this case, it is important to determine to what extent these clients are profitable and, if so, the necessary measures will be used to prevent their desertion. If the client does not have an adequate current or potential profitability, we can stop investing in it.
The next step is to ensure that the information provided by the most profitable customers reaches the company's research and development department, which lays the foundation for redesigning personalized products and services and launching new ones. In this way, the innovation capacity of the company is conditioned by the suggestions of the clients themselves; This ensures that product and service renewals are tailored to your requirements as much as possible. The increase in knowledge available in the company about its customers will result in differentiation and individualization, which will result in the best adaptation of products and services to their particular needs and, therefore, will result in an increase in the degree of satisfaction..
In addition, the CRM strategy allows you to discover opportunities for cross selling and induced selling. One of the main creators of value for a company lies in the ability to sell more, different, complementary products to current customers and to sell them higher-level products, with greater added value for the company. Thus, we can detect in our database of data what is the next product that should be offered to each specific customer.
On the other hand, the company can recognize customers with high and low price sensitivity, as well as those who are willing to negotiate prices in each transaction. In the case of customers with lower price sensitivity, they can be charged a 'Premium' for a service with a higher added value that improves the profitability of the company, allows better attention and achieves positive results on customer satisfaction and retention (Tsptsis, 2001).
At the same time, installing a personal information record for each client will allow them to assign a probable level of interest regarding a certain campaign. It is possible to define what are the particularities that the system has identified as discriminating to establish if the client had a high propensity to answer the campaign. This information may not be apparent without analysis using data mining techniques, and it is vital for the conception of the location of the product in the campaign and creativity (Tsptis, 2001). In this way, we can reach the client with personalized campaigns, achieve a strong increase in the response rate and subject the costs associated with the innumerable massive promotions of questionable profitability to the maximum.
Finally, we can determine which clients, due to their empathy with technology or a greater demand for convenience (time savings), are likely to make them migrate to new channels, cheaper for the company than personal attention (websites, email, cal / centers, ATMs, wap, etc.) through a low effort to promote these channels (Nash, 2001).
With this strategy we are able to improve such significant measures of results such as customer share, life cycle value, as well as customer and employee retention rates, customer satisfaction, the conversion rate of consumers into customers, cross-selling and induced sales (or maximized), marketing costs, response to direct marketing campaigns or the number of complaints.
4. Three CRM
A CRM solution starts from a large volume of customer information that is worked on using new technologies. Through complex analyzes, relevant information about individual consumer tastes, needs, interests and preferences is extracted. But to get quality information, we need customers to collaborate with the company, to be involved in two-way communication. Finally, the company will take the necessary measures so that the information provided is translated into a personalized offer. It is a model in which value is produced for both the company and the customer
From the above it is inferred that the bases of the CRM are analysis, collaboration and operation. Therefore, we distinguish three basic branches within the common trunk of the CRM.
4.1. Analytical CRM
The information of current and potential clients from each interaction, enriched with data from external and internal databases, constitutes the raw material of the analytical CRNI. Therefore, the first challenge is to integrate the information that has its origin in different transactional databases and then carry out a process of extraction, transformation, cleaning and loading of that information. It can be stored both in a corporate database as in databases corresponding to different departments (Donald, 2002)
These data are subjected to various analyzes using statistical and algorithmic techniques typical of artificial intelligence, with the aim of obtaining useful information, detecting initially hidden behavior patterns, trends contained in the data, as well as searching for associations between independent information, programming processes, foresee events, improve or carry out simulations that will support decision-making.
The fact of having quality data, integrated in a common warehouse and having mechanisms that allow obtaining relevant and timely information from the 'company memory' allows decisions to be made based on relevant, important and reliable information that establishes a competitive advantage for the company.
Specifically, some of the most used analysis instruments are OLAP tools (and data mining (descriptive factor analysis, shopping basket analysis, grouping or clustering, Bayesian networks, local forecasting, neural networks, decision trees, genetic algorithms)., etc.) (Donald, 2002)
As its own name shows, OLAP is an immediate, automatic response process that enables efficient and comprehensive representation of data in the form of a cube or multidimensional database. The information is organized according to the parameters that senior management deems appropriate to give them meaning and carry out their analysis.
Regarding data mining techniques, some of them are presented below with a brief review (Ueno, 2000):
- Descriptive factor analysis. They agree to visualize complex multivariate realities and, therefore, to demonstrate statistical regularities, as well as possible discrepancies with this regularity, in addition to suggesting explanatory hypotheses. Analysis of the shopping cart. It allows you to reveal what products are obtained together and incorporate technical variables that support the interpretation, such as day of the week, location, form of payment. It can also be applied in contexts other than large surfaces and include the time factor. Clustering techniques. They start from establishing a measure of proximity between individuals and, from there, look for the groups most similar to each other. Bayesian networks.They consist of representing all the possible events in which we are interested by means of a graph with the conditional probabilities of transition between events. They can be coded from the knowledge of an expert or inferred from the data. They allow to establish causal relationships and provide predictions. Local precision. The basic idea is that similar individuals will have similar behaviors with respect to a certain response variable. The technique consists of locating them in a Euclidean space and making predictions of their behavior based on the behavior observed in the neighboring neural networks. Inspired by the biological model, they are generalizations of classical statistical models. Its novelty lies in sequential learning and, above all, in non-linearity.They allow learning in difficult contexts, without, in general, requiring prior processing of the data. Its main drawback is that for the user they are a black box. Decision trees. They facilitate visually obtaining the decision rules from which consumers operate, from stored historical data. Its main advantage is the ease of interpretation. Genetic algorithms. The biological model of species evolution is also simulated, only at an infinitely higher speed. It is one of the most promising techniques. In principle, any problem that may arise as the improvement of a certain combination between different components: since the combinations are subject to restrictions, it can be solved by genetic algorithms.of a previous treatment of the data. Its main drawback is that for the user they are a black box. Decision trees. They facilitate visually obtaining the decision rules from which consumers operate, from stored historical data. Its main advantage is the ease of interpretation. Genetic algorithms. The biological model of species evolution is also simulated, only at an infinitely higher speed. It is one of the most promising techniques. In principle, any problem that may arise as the improvement of a certain combination between different components: since the combinations are subject to restrictions, it can be solved by genetic algorithms.of a previous treatment of the data. Its main drawback is that for the user they are a black box. Decision trees. They facilitate visually obtaining the decision rules from which consumers operate, from stored historical data. Its main advantage is the ease of interpretation. Genetic algorithms. The biological model of species evolution is also simulated, only at an infinitely higher speed. It is one of the most promising techniques. In principle, any problem that may arise as the improvement of a certain combination between different components: since the combinations are subject to restrictions, it can be solved by genetic algorithms.They facilitate visually obtaining the decision rules from which consumers operate, from stored historical data. Its main advantage is the ease of interpretation. Genetic algorithms. The biological model of species evolution is also simulated, only at an infinitely higher speed. It is one of the most promising techniques. In principle, any problem that may arise as the improvement of a certain combination between different components: since the combinations are subject to restrictions, it can be solved by genetic algorithms.They facilitate visually obtaining the decision rules from which consumers operate, from stored historical data. Its main advantage is the ease of interpretation. Genetic algorithms. The biological model of species evolution is also simulated, only at an infinitely higher speed. It is one of the most promising techniques. In principle, any problem that may arise as the improvement of a certain combination between different components: since the combinations are subject to restrictions, it can be solved by genetic algorithms.The biological model of species evolution is also simulated, only at an infinitely higher speed. It is one of the most promising techniques. In principle, any problem that may arise as the improvement of a certain combination between different components: since the combinations are subject to restrictions, it can be solved by genetic algorithms.The biological model of species evolution is also simulated, only at an infinitely higher speed. It is one of the most promising techniques. In principle, any problem that may arise as the improvement of a certain combination between different components: since the combinations are subject to restrictions, it can be solved by genetic algorithms.
4.2. Operational CRM
It is made up of all those environments that have direct contact with each client. Its goal is to channel and carry out, in an integrated way, all the measures developed, designed and developed in a personalized way in the analytical CRM, in such a way that communication through each of the channels is as efficient as possible. The operational CRM, then, represents the tools or processes that allow to use in a more effective way all the visible interactions with the client (Filler, 2002; Surmacz, 2001).
4.3. Collaborative CRM
It includes solutions that increase the client's ability to support business processes (self-service systems). The client can verify his credit through the internet channel of his bank, change the mailing address of the correspondence, or demand his tax information regarding his contracts because all the appropriate information has previously been gathered, in principle, located in different departments. of the company. Collaborative CRM is, therefore, the system that allows establishing the necessary processes to use the information acquired in each contact-channel and to systematize the dialogues and messages obtained. If we promote the use of collaboration means by the client, their level of satisfaction will increase and, also, their loyalty and their probability of extending the relationship with the company.
To increase the results obtained from the implementation of a CRM strategy, it is necessary to emphasize these three perspectives mentioned, since the proper definition and interrelation between them will depend, to a large extent, on the success or failure of this business attitude. In fact, one of the main sources of failure of CRM investments is manifested in an excessive focus on technology aspects, ignoring the role of key people, employees and clients in achieving the objectives of this type of application.
conclusion
There are many companies that understand the importance of the CRM strategy; However, there are few that fully exploit the potential associated with this new form of business management based on the association between technology and marketing. The CRM vision is simple, but its complex implementation.
In this sense, there are different challenges that companies must accept if they want investment in this type of strategy to be successful.
CRM is a philosophy, a business culture that not only affects the department in charge of information systems, but also concerns the entire organization. Consumer loyalty is achieved by providing you with high quality services and making sure you are completely satisfied. For this, it is important that the entire organization is committed to providing quality service and retaining customers (Anderson, 2001). However, according to a study by Young (2001), 41% of European CRM projects were developed departmentally rather than at the corporate level. Furthermore, the emphasis should be on strategy, not technology. The role of the management must be that of promoter of the cultural change that the implantation of the CRM philosophy entails. It is thereforeA multidisciplinary team where all users of the solution have a leading role is highly recommended. The proposed solution must be flexible and scalable, the systems must be able to grow together with the company as it increases its number of clients and the complexity of its management processes and technological platforms.
A CRM system must be designed to achieve specific and measurable objectives. However, according to data from a study carried out by the consulting firm QCI and Royal Mail, only 8% of the companies analyzed have a set of clear parameters that relate the management of the relationship with customers to the return on investment. (ROI), which is why it is often difficult to measure the impact that this type of project has on the business. Likewise, 62% of companies do not measure the customer retention index in a practical way (Barniani, 2001).
Likewise, training plays a conclusive role in achieving the objectives of this strategy. Company employees must first understand where the CRM vision lies, and then learn how to gather, use, and share information in order to generate real value for the customer. At the same time, the role of the employee changes and you may need to increase your professional skills. Likewise, the evaluation, motivation and compensation systems must adjust to the new conditions. Companies that do not determine employee tasks or change outcome measures, incentive systems, and training programs are closer to experiencing failure to implement the CRM strategy.
Another important challenge is to have current, complete and quality information. Sometimes the depth of historical customer information is too insufficient or not up-to-date to perform effective segmentation, stopping the full development of the next phases of the process. Problems can also appear when it comes to homogenizing and debugging data from different sources; duplication and absence of data must be avoided.
Bibliography
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