CRM Software Data Stored by CRM Software

Question: Describe about the data stored by CRM software, benefits to the hotel, benefits to the guest and parameters to measure the CRM success. Answer: Introduction CRM software is a software category that includes a set of applications and software designed to help hotels, casinos, and resorts to maintain and manage data of customers, their interaction throughout the customer lifecycle. Best hotels like City Inn Hotel Ltd in Khulna, Bangladesh has an ultimate goal of improving business relationships and retaining customers to gain profit from customer satisfaction by providing them services. CRM software compiles, synchronize and manage scattered customer documents and data into a single database and utilize it for marketing and customer service. It also keeps customer and management staff in contact through email, live chat, telephone, marketing materials, and social media. Through this software, management of City Inn Hotel can keep a track of their customers and their stay and services required by them (Bang and Kim). The data stored by CRM software Communication details like customer name, their contact details- email, phone number, and address. Transaction details like time of stay, mode of payment used by the customer, and services used by the customer during the stay. Engagement details like mode of communication, customer prefersto be used by the hotel to contact them and call records made to helpdesk. Profile details like birthday, their hobbies and interest and anniversaries. Feedback details like any surveys were taken by the customer, any complaints from them or any kindof feedback provided by the customer through personal interaction with them(Haran et al.). Benefits to the hotel Provide better customer service- Staff can analyze the data provided in the CRM software and provide better services to the customer according to his liking. This will satisfy the customer and will retain him for the future also. Increase customer revenue- The old customer would like to return to the same hotel if they get the best service for them. This will generate customer revenue for the hotel. Discover new customers- CRM connects the hotel globally through the internet; online reservation gives new customers to the hotel. Help staff to attend customers- Data collected in the software help the staff to attain full data about the customer in a single click, which help them to attend the customer easily. Profit- Like any business, hotels also need good profit in the year end and retained customers, and a new one will definitely help in attaining that goal(Khan et al.). Benefits to the guest Personalized attention- Personal attention can be given to the guest by going through the details of his last stay and improve his stay altogether. Loyalty Rewards- Loyalty rewards in the form of special discount or vouchers can be given to the customers those who are loyal to the hotel and this information can be attained through the data saved in CRM software. Instant reservation- Through the internet, reservation formalities which are required to be filled can be fulfilled by the data already saved with the hotel. This saves time for the customer. Discounts or special offers- These software keep in regular touch with the customers through emails, calls and reminders, and hence they come to know about special discounts or offers provide by the City Inn Hotel and use it to their benefit. Personal touch- Wishes on their special days from the side of the hotel is automatically sent to the customer whose data are saved with it, this generates a personal touch with the customer(Josiassen, Assaf and Knezvevic). Parameters to Measure the CRM success Direct customer feedback- Customers feedback about his stay at the City Inn Hotel Khulna, Bangladesh in comparison to the last time can be the best way of knowing the success of CRM software. As they are a better judge of their individual services provided to him(Fukey Leena, Jaykumar and Issac). Customer retention- By comparing the number of customers retained by the hotel for the last year the correct statistics will come up. Finances- Increased profit and revenue generated from the staying of the customer show the true picture of CRM success. New customers- New customers attached to the hotel are also a measure of the success of CRM(Croteau and Li). Conclusion With so much of competition around, it is necessary for the management staff City Inn Hotel Khulna, Bangladesh to take steps to prove itself the best out of all. CRM certainly helps the management staff to provide best and personalized services to the customer, but also show a betterment in the services and the prices charged for it. Data collected by the staff is readily available to them through CRM which helps them to take quick actions to the customers satisfaction. It also helps in attaining new customers for the hotel and retaining the old ones(Wu and Lu). References "CRM Scorecard - CRM Performance Measurement". International Journal of Networked Computing and Advanced Information Management 2.1 (2012): 8-21. Web. Bang, Jounghae, and Min Sun Kim. "CRM Fit And Relationship Quality In Hotel Industry". IJSH 7.6 (2013): 11-22. Web. Croteau, Anne-Marie, and Peter Li. "Critical Success Factors Of CRM Technological Initiatives". Canadian Journal of Administrative Sciences / Revue Canadienne des Sciences de l'Administration 20.1 (2009): 21-34. Web. Fukey Leena, N., V. Jaykumar, and Surya Sarah Issac. "Assessing CRM Practices In Hotel Industry: A Look At The Progress And Prospects". Indian Journal of Science and Technology 8.S6 (2015): 82. Web. Haran, Murali et al. "Applying Classification Techniques To Remotely-Collected Program Execution Data". SIGSOFT Softw. Eng. Notes 30.5 (2005): 146. Web. Josiassen, Alexander, A. George Assaf, and Ljubica Knevevi. "Impact Of CRM Implementation On Hotel Efficiency: Evidence From The Slovenian Hotel Sector". Tourism Economics 18.3 (2012): 607-616. Web. Kanchan, and Aditi Sharma. "Application Of Customer Relationship Management (CRM) Practices In Hotel Industries: A Review". International Journal of BRIC Business Research 4.3 (2015): 1-6. Web. Khan, Abeer et al. "Integration Between Customer Relationship Management (CRM) And Data Warehousing". Procedia Technology 1 (2012): 239-249. Web. Sharma, Aran, and Gopalkrishnan R. Iyer. "Country Effects On CRM Success". Journal of Relationship Marketing 5.4 (2007): 63-78. Web. Steinbock, Dan. "Software Review A Sample Road Map For Analytical CRM". Journal of Database Marketing Customer Strategy Management 12.4 (2005): 362-377. Web. Venturini, Wander Trindade, and scar Gonzlez Benito. "CRM Software Success: A Proposed Performance Measurement Scale". J of Knowledge Management 19.4 (2015): 856-875. Web. Wu, Shwu-Ing, and Chien-Lung Lu. "The Relationship Between CRM, RM, And Business Performance: A Study Of The Hotel Industry In Taiwan". International Journal of Hospitality Management 31.1 (2012): 276-285. Web.