Customer Relationship Management (CRM) involves a fusion of people, processes and technology that seek to critically analyse and understand a company’s customer. It is a coherent perspective to managing relationships by paying particular attention on customer retention and the development of relationship. CRM strategies have become of great significance worldwide due to the changes in customers’ expectations as well as modifications in the nature of the various markets. Companies that have successfully been able to implement CRM are reaping the fruits of their effort with customer loyalty and long run profitability.
The continuous increase of data generated in a business leads a huge volume of data that need to be managed effectively, and this process is very crucial as there are so much potential and extremely useful insights hidden in this mass of data. Advanced analysis techniques such as semantic analysis, text mining and predictive analytics enables many companies to create competitive advantage after they have analysed large amount of data using different levels of sophistication, speed and accuracy that were previously not available.
CRM software has been through a lot of innovation and technical advancements in the last few years where apart from the traditional methods used previously, internet, email, wireless, and PDA technologies are being used to contact customers. There are several CRM software packages that can assist companies to increase customer loyalty retention, which is made possible by improving customer satisfaction which is the main objective of CRM. The Internet plays an important role to make alliances stronger between the companies and the customers.
Online casinos such as Spin and Win takes huge pride in keeping its players satisfied by using a CRM approach that treats each player individually and provide tailor made services to each individual. The CRM team at Spin and Win Casino analyses each and every aspect of its huge database of players, and as such is able to provide special promotions, deposit codes and specific offers for different types of players who have different preferences. Spin and Win acknowledges that each of its player is unique thus they need special attention when it comes to what they want to play and type of games they prefer. One player may prefer to play a particular slots game while another may have a penchant for roulette, poker, blackjack or ScratchCards.
CRM has become a strategic initiative in most retail companies due to the growth in of service sectors and customers expectation. Organised retail is much in demand as such to keep up with competitors, many companies are focusing on relation marketing and loyalty programs, while data mining and using analytic skills. To many head of businesses, CRM remains a way of life for a company to provide customer satisfaction and to treat each customers as an individual who can make choices. The future of retail companies is no longer based on speculations but on consumer behaviours and their needs.