According to Bolton, customer satisfaction has significant
implications for the economic performance of firms, because it has been
found to increase customer loyalty and usage behavior and reduce
customer complaints, and the likelihood of customer defection. The
implementation of CRM is likely to have an effect on customer satisfaction for at least three reasons:
Firstly, firms are able to customize their offerings for each customer. By accumulating information across customer interactions and processing this information to discover hidden patterns, CRM applications help firms customize their offerings to suit the individual tastes of their customers This customization enhances the perceived quality of products and services from a customer’s viewpoint, and because perceived quality is a determinant of customer satisfaction, it follows that CRM applications indirectly affect customer satisfaction.
Secondly, CRM applications enable firms to provide timely, accurate processing of customer orders and requests and the ongoing management of customer accounts. For example, Piccoli and Applegate (2003) discuss how Wyndham uses IT tools to deliver a consistent service experience across its various properties to a customer. Both an improved ability to customize and a reduced variability of the consumption experience enhance perceived quality, which in turn positively affects customer satisfaction.
Thirdly, CRM applications also help firms manage customer relationships more effectively across the stages of relationship initiation, maintenance, and termination.
Source:Wikipedia
Firstly, firms are able to customize their offerings for each customer. By accumulating information across customer interactions and processing this information to discover hidden patterns, CRM applications help firms customize their offerings to suit the individual tastes of their customers This customization enhances the perceived quality of products and services from a customer’s viewpoint, and because perceived quality is a determinant of customer satisfaction, it follows that CRM applications indirectly affect customer satisfaction.
Secondly, CRM applications enable firms to provide timely, accurate processing of customer orders and requests and the ongoing management of customer accounts. For example, Piccoli and Applegate (2003) discuss how Wyndham uses IT tools to deliver a consistent service experience across its various properties to a customer. Both an improved ability to customize and a reduced variability of the consumption experience enhance perceived quality, which in turn positively affects customer satisfaction.
Thirdly, CRM applications also help firms manage customer relationships more effectively across the stages of relationship initiation, maintenance, and termination.
Source:Wikipedia
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