Customer relationship management is vital for any brand or company as customers form a important tool of word of mouth publicity. It is always a small percentage of customers whose bad experience about a brand, product or company may create a slide down in the revenue. Apart from having huge advertising budgets a brand or a company must have a budget for customer relationship management.
A bad customer experience may spread negative word of mouth publicity. Customer relationship management isn’t all about managing or attending to address the bad customer experience but also reaching out to satisfied customers for their testimonials about the positive customer experience. A customer testimonial with superior experience is the main attraction to success of any business. It can be effectively used to draw more customers towards the brand. Any amount of brand awareness campaign with huge media budgets will be a one way communication unless such brand awareness campaign is supported with a positive customerexperience communication. The effectiveness of a positive customer experience about a brand will draw more attention towards the brand and on the other hand bad customer experience can drive away thecustomers from the brand. There should be a continuous effort to manage the customers coming in and going out. For a successful brand the percentage of bad customer experience would be minimal but it cannot be ignored. The best way will be to address their concern and make all efforts to retain them.
The price of a failed customer experience would limit the growth of a brand. Also a bad customer experience gives an opportunity to the brand to improve itself and stay ahead of its competitors. Customer Relationship Management is all about dealing with Positive and Negative Customer Experience.