START UNDERSTANDING CUSTOMER ISSUES!!!

CRM start up as an enterprise business strategy must proceed with the evaluation and selection of enabling technologies they might be flexible enough to meet changing business requirements, it must also develop specific goals and objectives to drive the initial project. There are key metrics for evaluating business-related customer issues and
Expectations:

1. Customer Profitability Analysis:
How profitable customers are? and determine if these levels are acceptable, if it is lower than-expected or declining, customer profitability levels may want to focus first in CRM initiatives on increasing the value that customers are bring to the organization.

2. Customer Attrition Analysis:
Increasing attrition of customer base? Metrics should be used to monitor
the percentage of customers leaving over time. When experiencing high levels of attrition or increasing attrition, may need to consider customer-retention initiatives as one of their key objectives. However, to develop an effective strategy, merely knowing that customers are leaving is not enough.

3. Lifetime Value Recognition Analysis:
Organization could be wrong in the way they maximize the value that customers are expected to bring over their lifetime or the length of their expected relationships. It is necessary to calculate lifetime value and analyze whether they are meeting the expectations of the value that customers are expected to provide.

4. Products per Customer/Household Analysis:
An increase in the number of products per customer or household can indicate increased revenue, but does not necessarily indicate increased profitability. It is critical that it analyzes the number and types of products per customer/household. By looking at the two in combination, can focus on marketing and cross-sell initiatives that will increase
the number of products per customer/household in ways that increase customer value.

5. Customer Satisfaction Analysis:
Without an understanding of customer satisfaction, CRM efforts can be overly focused on
Marketing and sales activities. Without enough attention to customer service, customer service initiatives can be misguided.
Customer satisfaction is an important metric that spans all channels and products and can help predict customer loyalty as well as define areas of service improvement. To determine customer satisfaction, is needed to ask customers how satisfied they are about the products, services and channels they use.

6. Customer Needs and Preference Analysis:
CRM is more likely to be successful if FSPs provide customers with what they want
and need. What products are customers interested in? What features, functions and options do they prefer? What channels do they expect to be able to do business through?
The data derived from a sort of questions can be analyzed in aggregate to determine general preferences and needs that can be addressed or the data can be looked at on a customer-by customer basis to develop an initiative based on customer.

7. Bottom Line:
To develop successful CRM initiatives, organizations must understand customers’ pain points as well as what their customers want. They can then develop initiatives that provide value to the customer.