Customer Relationship Management : Methods, Opportunities and Challenges / Mohammad Nabil Almunawar, Muhammad Anshari, editors.

Format:

Book

Contributor:

Almunawar, Mohammad Nabil, 1960- editor.

Anshari, Muhammad, 1977- editor.

Series:

Business issues, competition and entrepreneurship series.

Business Issues, Competition and Entrepreneurship Series

Language:

English

Subjects (All):

Customer relations--Management.

Customer relations.

Physical Description:

1 online resource (393 pages)

Edition:

First edition.

Place of Publication:

New York : Nova Science Publishers, [2024]

Summary:

"Customer relationship management (CRM) has evolved into a crucial strategic approach for businesses seeking to improve customer satisfaction, loyalty, and overall performance. This book endeavours to furnish a comprehensive overview of the strategies, possibilities, and difficulties linked with the implementation of CRM. Its goal is to explore essential facets of Customer Relationship Management, covering methods, opportunities, and challenges. It also encompasses a diverse range of conceptual and practical perspectives associated with CRM. Comprising of fourteen chapters, this collection offers valuable insights for a broad audience. Potential readers include students, academics, researchers, policymakers, and practitioners. Whether used as a primary or supplementary textbook, this book is suitable for undergraduate and postgraduate students in business management or related fields. Nevertheless, individuals with an interest in CRM will derive significant advantages from the content of the book"-- Provided by publisher.

Contents:

Intro

Contents

Preface

Introduction

Contents of the Book

Acknowledgements

Chapter 1

How to Enhance Customer Retention in the Electronic Marketplaces: The Role of Knowledge Management Strategies

Abstract

1. Introduction

2. Literature Review

2.1. Knowledge Management

2.2. Hypotheses Development

3. Research Method

4. Result

5. Discussion

Conclusion

References

Chapter 2

Leveraging Customer Relationship through Key Account Management Strategy for SMEs

Literature Review

Pre-KAM Stage

Early-KAM Stage

Mid-KAM Stage

Partnership-KAM Stage

Synergistic-KAM Stage

Methods

Results and Discussions

Chapter 3

Assessing Customer Satisfaction of the Modern Grocery Platform by Using E-Servqual

Service Quality Literature Review

E-Service Quality

Results

Discussion

Efficiency

Fulfilment

System Availability

Privacy

Practical Implications

Theoretical Implications

Disclaimer

Chapter 4

Beyond Boundaries: Multichannel Strategies in Customer Relationship Management

Definition of Multichannel Communication in the Context of CRM

The Importance of Multichannel Strategy for Modern Businesses

The Multifaceted Benefits and Challenges

Strategic Considerations

Profound Impacts of a Multichannel Strategy

Meeting Evolving Consumer Expectations

Enhanced Data Collection and Personalization

Risk Diversification

Cohesive Brand Image

Increased Revenue Streams

Competitive Advantage

Real-Time Feedback and Agility

Designing Seamless and Consistent Multichannel Customer Experiences

The Need for a Unified Customer Experience across Channels.

Key Components for Creating Seamless Customer Experiences

Customer Journey Mapping

Consistent Branding and Messaging

Data Integration and Analytics

User-Centered Design Principles

Integrating Social Media, Mobile Apps, and Other Channels for CRM

Social Media: Engaging with Customers Where They Spend Their Time

Key Platforms and Their CRM Capabilities

Strategies for Monitoring and Responding on Social Media

Mobile Apps: Offering Personalized Customer Experiences on the Go

Features and Functions that Enhance CRM

Best Practices for Mobile CRM

Integrating Traditional and Digital Channels

Email, Call Centers, and Web Integrations

The Role of Data Aggregation and Centralized CRM Systems

Chatbots and Virtual Assistants for Customer Support and Engagement

The Rise of AI-Driven Customer Support

Benefits of Using Chatbots and Virtual Assistants

24/7 Availability

Cost Efficiency

Consistent Responses

Other Benefits

Designing and Training Effective Chatbots

Natural Language Processing (NLP)

Continuous Learning and Feedback Integration

Best Practices for Implementing Virtual Assistants in CRM

Clarifying Scope and Limitations

Ensuring Smooth Escalation Paths to Human Representatives

The Necessity of Human Intervention in AI-Driven CRM

Empathy and Emotional Intelligence

Contextual Decision-Making

Ethical Oversight and Trust

Feedback Loops for AI Improvement

Handling Unprecedented Scenarios and Crisis Management

Self-Service Portals and Knowledge Bases for Customer Empowerment

Understanding the Need for Customer Self-service

Customer Expectations for Immediate Solutions

Reducing Support Overhead for Businesses

Designing User-Friendly Self-Service Portals

Intuitive Navigation

Comprehensive and Up-to-Date Information.

Implementing and Maintaining Knowledge Bases

Formats and Types of Content to Include

Strategies for Regularly Updating and Improving Content

Benefits of a Well-Designed Self-Service Strategy

Increased Customer Satisfaction

Enhanced Efficiency and Resource Allocation

Predictions for Emerging Technologies and Their Role in CRM

Augmented Reality (AR) and CRM

The Internet of Things (IoT) and CRM

Quantum Computing and CRM

5G Connectivity and CRM

Blockchain and CRM

Neuromorphic Computing and CRM

The Future of Multichannel Communication in CRM

Embracing Technological Advancements While Maintaining the Human Touch

Chapter 5

Assessing Strategies of Social Customer Relationship Management (CRM) in Banking Sector

2.1. CRM 1.0

2.2. CRM 2.0

2.3. Evolution of CRM

3. Methodology

4. Findings

6. Conclusion

7. Limitations

Appendix

Interview Questions

Chapter 6

The Challenges and Negotiation Methods of Relationship Management in Internships: A Collaborative Autoethnography of University Staff in Vietnam

2.1. Hospitality and Tourism Internship

2.2. Education Logistics and Relationship Management

2.3. University Education in Vietnam

3. Method

3.1. The Collective Autoethnography Method

3.2. Data Generation and Validation

4.1. The First Phase: Contacting

4.2. The Second Phase: Information Provision, Registration, and Interview

4.3. The Third Phase: Internship

4.4. The Fourth Phase: Evaluation and Conclusion

5.1. Theoretical Implications

5.2. Practical Implications

6.1. Limitations and Future Research Directions

Chapter 7.

An Exploration of the Effect of Electronic Customer Relationship Management (E-CRM) on Customer Loyalty: A Serial Mediation Analysis

2. Theoretical Framework and Hypotheses Development

2.1. Stimulus-Organism-Response (S-O-R) Model

2.2. E-CRM and Customer Loyalty

2.3. Mediating Role of Customer Experience and Customer Satisfaction

2.4. Control Variables

3. Research Methodology

3.1. Sample and Data Collection

3.2. Measures

4. Results

4.1 Assessment of Measurement Model

4.2. Direct Relationship between the Constructs

4.3. Mediation Results

5. Conclusion

6. Implications

6.1. Theoretical Implications

6.2. Practical Implications

7. Limitations and Directions for Future Research

Chapter 8

AI-Powered CRM in the Post-COVID-19 Pandemic

2. Customer Services vs. Customer Experience

2.1. Post-pandemic Online Business Developments

2.2. Paradigm Change from Customer Service to Customer Experience

2.3. Future CRM Technology Based on Customer Experience

3. AI-Powered CRM

3.1. What Is AI-Powered CRM?

3.2. AI-Powered CRM Features

3.3. The Benefits of AI-Powered CRM in Post-COVID-19 Business

4. Customer Segmentation and Profiling Using Machine Learning Algorithms

4.1. Consumer Segmentation Technique Using AI-Powered CRM

4.2. Creating Consumer Profiles Based on AI-Based Big Data Analysis

4.3. Automated Segmentation Methods Using AI

4.4. Machine Learning Algorithms for Segmentation and Personalized Customer

5. AI-Driven Visualization of Customer Data and Insight Generation

5.1. Visualize Customer Data with AI-Powered CRM

5.2. Chatbot and Virtual Assistant Technology in AI-Powered CRM

5.3. AI-Powered CRM Implementation for Online Businesses in Asia

Conclusion.

References

Chapter 9

Developing Customer Relationship via Instagram: The Case of Small and Medium Enterprises in Brunei Darussalam

2.1. What Is Instagram?

2.2. Instagram Business Platform Development

2.3. Consumer Relationship Management Opportunity in Instagram

2.4. Instagram Customers' Behaviours

2.5. Success Factors in Managing Instagram Business Account

2.6. Instagram Frenzy in Brunei

2.7. Problem Statement

2.8. Research Objectives

4. Data Findings

Conclusion and Future Research

Chapter 10

Values of Blockchain Technology in Advancing Secure and Decentralized Customer Relationship Management (CRM) Systems

2.1. Blockchain Technology

2.2. Customer Relationship Management (CRM) Systems

2.3. Traditional vs. Decentralized CRM Systems

2.4. Process of Implementing Blockchain Technology in Distributed CRM Systems

2.5. Values of Implementing Blockchain Technology in Decentralised CRM Systems

4. Analysis and Discussion

4.1. Successful Implementation of Blockchain Technology in CRM Systems

4.1.1. Salesforce Blockchain

4.1.2. Real Blockchain Use Cases for Business

4.2. How Blockchain Technology Enhances Security and Transparency in CRM Systems

4.3. How Blockchain Technology Helps Prevent Data Breaches and Ensuring Data Accuracy in Decentralised CRM Systems

5. Implications

Limitations and Future Directions

Further Reading

Chapter 11

Healthcare Services with Social Customer Relationship Management Enabled

2.1. Customer Relationship Management (CRM)

2.3. CRM in Healthcare.

3. Methodology.

Notes:

Description based on publisher supplied metadata and other sources.

Description based on print version record.

Includes bibliographical references and index.

Other Format:

Print version: Almunawar, Mohammad Nabil Customer Relationship Management: Methods, Opportunities and Challenges

ISBN:

9798891137578