There are many things that define a good business. Often times, the definition of a good business can be subjective. However, there are certainly some technical terms that can be used to measure what is considered a good business.
There seems to be a resurgence of a focus on customer service. The words, "customer service", are always being tossed around in the retail arena, but the manufacturing sector has never been associated with customer service quite as much as the retail sector.
Do you remember the first time that you went into a Coldstone Creamery and the people behind the counter sang for their tips? I always wondered what it would be like if my barista at the local Starbucks sang for his or her tips. I just remember the first time I went for ice cream and the singing commenced. I wondered how Coldstone had convinced these people to sing for their tips. The even more puzzling aspect of the whole singing experience was that they were happy to sing. I wonder what their employee handbook looked like...
Manufacturers are starting to "sing". CRM (Customer Relationship Management) is becoming the must-have manufacturing tool. Price is no longer the most important factor for customers or manufacturers. CRM manages customer data, business information, and keep details regarding customer interactions. CRM can work in conjunction with ERP in order to create the most positive buying experience. CRM can automate the sales process and the customer support process. ERP offers customer and vendor portals that will allow customers to access account information and place orders.
There are more benefits to CRM than just streamlining and automating the sales process. Data can be mined from the CRM system that will give valuable information regarding buying trends, and potential future opportunities. CRM is also a rich source of customer history that can assist sales in recommending new products or pinpointing valuable customer add on products.
CRM provides information that will help differentiate your business from your competitors.