Customer Relationship Managment

CRM
Customer relationship management (CRM) consists of the processes a company uses to track and organize its contacts with its current and prospective customers. CRM software is used to support these processes; information about customers and customer interactions can be entered, stored and accessed by employees in different company departments. Typical CRM goals are to improve services provided to customers, and to use customer contact information for targeted marketing. Hence it is important that ACE PTE LTD use crm..
Customer retension
THE PROBLEM: “AVERAGE” CUSTOMER SATISFACTION, RETENTION AND LOYALTY
Customer service is the cornerstone of a solid, thriving business. It costs six to thirty times more to get a new customer than it does to service and maintain the satisfaction and loyalty of an existing customer. Companies struggle to cut costs without realizing that customer attrition might be the single largest cost they have. Keeping customers happy has the same bottom line effect as cutting costs.
ACE pte ltd should have good customer service so that they can retain customers
Advantages of customer retention
Following are some of the advantages of following a well defined customer retention strategy:
  Possibility of repeat business
      Reduced costs for customer acquisition
      Fostering greater interaction between business and customer
      Having more delighted customers
      Touch base with your customers
      Agreed that you’ve delivered what your customers wanted and   have also been paid for it. However, make it a point to periodically   touch base with your customers and enquire if what you delivered   is working right, if there is anything that needs to be changed   etc. The key point is, get in touch with them and build an effective   feedback mechanism. This will not only help you stay in touch   with your customers, but also allow you to look at your products/services   more closely, and make continuous... [continues]

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