Key Principles of Relationship Management

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Key Principles of Relationship Management

To develop relationships the following key principles have to be kept in mind:

• Manage customer as an asset,
• Rate customers on the basis of their profit stream – current and future
potential,
• Customize relationship to individual customer-using information based
decision making capabilities,
• Implement innovative ways and means to get close to the customer to hear
the ‘Voice of the Customer’.


TO SUCCEED IN THE RELATIOHSIP ECONOMY COMPANIES MUST :

Create capabilities to service the new customer
• Driven by voice of the customer
• Listening and learning process
• Customer experience mapping
• Appropriate level of segmentation

Connect the business to the customer
• Align mindset and connectivity
• Invest in enough knowledge to get the job done
• Balance elements of modern business (strategies, people, process, knowledge
and technology)
• Develop efficient and effective fulfillment solutions (self service Vs full
service)

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