How is customer relationship management related to customer satisfaction?

How to gain customer loyalty?

The recent polls have proved one point that customer loyalty is a very complex issue. A client is most likely to stay with a company despite their lack of being able to provide customer satisfaction, only because switching might be complicated or the company holds a monopoly in the industry. However if the industry holds a level of unsaturated market, with no possibility of any sort of monopoly, it is more likely to experience a higher rate of customer defection.

There was no precise answer found related to the question of what exactly attracts customer loyalty, companies with scrupulous policies and services for their customers or the ones that are highly flexible and allow maximum choices along with ease of switching providers. Although the researches found that people are less likely to switch companies when it comes to few necessary goods with less of options available, like the utilities. However, the sectors like the telecom sector or the hotel sector being a part of the consumer-centric industrial segment is more likely to experience customer defection, if they fail in providing the best services.

What do customers want?

The studies have found that the most important attribute that every single customer looks for ward to be in the service providers or the company that they deal with is fast and friendly customer services. In addition, most of all they expect these attributes in all sectors that they deal with. While the fact is, even though the companies completely understand the whole concept, and in their desperate efforts to retain customers are looking for viable options, they accept that fast and friendly is becoming harder to deliver.

Does convenience means loyalty:

Customer relationship management is something that is the easiest and most convenient way of keeping customers happy. The key point is convenience. A customer who gets connected to the company directly, if he faces any issues and the issues are addressed right away, they are more likely to return for the services to the same company

The idea is to be there for your customers. They are only likely to return if they find their needs and requirements addressed and given importance to, in timely manner and the easiest way of doing this is having the CRM handle them.