BZUPAGES.COM E-business Public Relations Public Relations (PR) keeps the customers and employees of a business current or updated as regards information about products, services and internal and external issues such as any promotional activities, new products, customer reactions Press releases Speeches Special events – seminars, video conferencing etc s Chat sessions Bulletin board – people can post comments Presentations/exhibitions

BZUPAGES.COM CRM The sum of a company’s customer service solutions constitutes its customer relationship management (CRM) system. Level of traffic at the online business site and the available resources would normally determine whether or not a business should have CRM. It provides fast and effective service to customers and ensures that corrective measures are readily in place. CRM can backfire …

BZUPAGES.COM CRM includes mainly three things Call Handling -- Under CRM system, call centers can be set up having customer service representatives who can be reached trough phone, s or online chatting. Sales tracking Transaction support Tools are Three tools can be used to improve customer service. Log file analysis Cookies Data mining.

BZUPAGES.COM One major goal of CRM is to establish a long-lasting relationship between a company and its customers. Good customer services can help in building a sense of loyalty towards company and its products or services. Experts have pointed out five stages of loyalty as customer relationships develop over a period of time. One can find that the intensity of relationship increases as the customer moves through the first four stages. In the fifth stage a decline occurs and the relationship terminates.

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Awareness This is the first stage where customers recognize the name of the company or any of its products. However, they have never interacted with the company before. A company/business can achieve this level by properly advertising its brand. Exploration At the exploration stage the potential customers know more about the company or its products. For instance, they may have visited the web site of the company and have exchanged any information with it.

BZUPAGES.COM Familiarity At this stage, customers have completed several business transactions with the company and know its policies regarding refund, privacy of information, discounts etc. Commitment Having completed a number of satisfactory transactions, some customers may have developed a strong sense of loyalty or preference for the products or brand of a company. They are said to be at the commitment stage in their relationship with a business. Such loyal customers often tell others about their satisfaction as regards products/services offered by the company. Sometimes, companies make concessions on price or other terms of business to bring customers into this stage.

BZUPAGES.COM Separation After a period of time those conditions over which a valuable customer relationship is established might change. Customers might not be any longer satisfied with the product quality or customer service. On the other hand, a company may also find that a loyal customer is proving to be very expensive to maintain. Thus, the parties enter into the separation stage. Note that the objective of any marketing strategy is to bring the customers quickly to the committed stage and try to hold them there as long as possible.

BZUPAGES.COM Life Cycle Segmentation These five stages are also called customer life cycle. Using them to create groups of customers is called customer life-cycle segmentation. Segment information is useful for companies to develop better relationship with the customers. Companies, thus, know about their customers and their level of relationship with the company, and can customize their product/service.