Customer centric is a way of doing business with the customer in a way that provides a positive customer experience before and after the sale in order to drive repeat business, customer loyalty and profits.
When a unified platform for customer master data is unavailable, problems are inevitable. A heterogeneous data basis with obsolete and inaccurate address data and differing formats means that elaborately organised marketing campaigns pass by unnoticed, and unnecessarily increase postage costs. The profit margin of the marketing budget is endangered and marketing campaigns with critical timing are doomed to failure from the start. Missing segmentation characteristics make the choice of target group more difficult. To address the customer and enquirer with the right product at the right moment is more a case of luck than anything else.
Isolated solutions are used in the sales department, meaning that each representative has a personal storage of information and data. But this also means that with separate systems, but without interfaces, it is extremely difficult, e.g., to determine, if and when an enquirer becomes a customer.
Customer information often only enters the system when a product is actually sold and the related order is entered into the system. Any additional information remains in the heads of the sales staff or customer service. But if such an employee leaves the company at some point, the information is lost.
Effective CRM – Customer Relationship Management
Effective CRM means far more than just collecting customer data. When a company can fully exploit all available data (such as contractual data combined with usage data, or evaluation of surfing behaviour in the internet) on just one platform, the customer can be given precisely targeted offers and can be taken care of individually.