A CRM (Customer Relationship Management) manages customers’ interactions with a company. This helps companies to analyse their customers’ behaviours, predict their wants and to deliver a customer experience that is more fulfilling. An article from TechTarget claims that a digital CRM is the new way forward for every industry (from Disneyland to dishwashers). With this knowledge, organisations can personalise their products to suit their customers’ needs. The article explains how a smart refrigerator by Samsung can track its contents allowing users to share shopping lists and notify them when someone has bought the mustard. Using a digital CRM to improve customers’ experiences with your service/product will, of course, create happy customers who are more likely to attract more business and remain loyal to your organisation.
The data collected from digital CRMs however, can also be used for targeted marketing. Details such as the time and date that customers use a certain service/product are some of the many pieces of information that are noted. In our previous post, we explained that companies should stay away from being stalker-like. Of course, there are certain limits to using sensitive data to sell to marketers. If companies began to do so, customers’ trust would be greatly affected, giving your brand a bad name. This will have serious effects on your customer satisfaction and loyalty.