Customer Relationship Management And Market Performance Of Nation Media Group
The modern business world is highly competitive. Managers of successful companies are aware of this fact. They also recognise that customers are at the heart of any business – and should be treated like kings and queens. They therefore make every effort to effectively manage relationships with customers. At the heart of this desire to handle customers well is the knowledge that these are– literally – the goose that lays the golden eggs for any firm. Top managers are also aware that a customer’s needs are not cast in stone. Customer needs and buying patterns change with time. To meet these dynamic needs, companies formulate various strategies. They may adopt differentiated and customer-oriented operations. The aim is to delight customers. They may also employ specific marketing strategies to confer them that competitive advantage. It is therefore not surprising that more and more firms are investing in ways of cultivating long-term relationships with customers. Indeed, most firms desire to build solid loyalty. Thus, customer relationship management (CRM) is now in vogue. CRM has emerged as a strategy to oil ties with customers and solidify loyalty. It is this phenomenon that this study attempts to unravel. Specifically, this study is an examination of customer relationship management at Nation Media Group and its impact on the firm’s market performance. Research was undertaken in the form of a case study. The population of employees interviewed for the study was drawn from various NMG departments. These departments were: advertising, marketing, business development, sales and distribution and broadcasting. Data was collected through a guided questionnaire. It was analyzed using content analysis. The study found out that CRM is serving NMG well. It has enabled the East and Central Africa media giant to tailor-make products and services to customers. The objective is to satisfy customers and win their loyalty. It has thus been possible for the firm to cross-sale and up-sale to customers who are loyal and committed to its offerings. The study found that customer relationship management at NMG is influenced by modern technology, human resource, corporate culture and the leadership of top management. The firm’s information technology system resulted in easier collection and analysis of data. It was easy to analyse customer patterns and interpret customer behavior. This enables the firm to respond with timely and effective customized communications and deliver desired products. The human resource has enabled the firm to continue growing through smart customer sourcing that requires staff with adequate knowledge and skills. CRM was found to boost the company. It enabled the firm to increase efficiency in customer knowledge management. This enhanced the effectiveness of the organization’s ability to make decisions related to customers. The outcome has been the improvement of marketing performance in particular and organizational performance in general.
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