Publication: Environmental and Social Customer Relations Management model for Small and Medium Enterprise Acceleration in Africa
Total Views 4
total viewsTotal Downloads 16
total downloadsDate
2015
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Mount Kenya University
Cite this Item
Abstract
The main objective of this article is to present an analysis of a client relationship
management model that places emphasis on the formation of theoretical foundations
for client focus, engagement and data bases in relation to business performance and
acceleration. The fundamental question is: How can SMEs socially leverage client
focus, engagement and data management for the realization of business acceleration?
The environmental and social model hypothesizes that client focus, engagement and
data management relate positively to new and existing client interest generation,
repeat business and market segmentation. Essentially, and for purposes of business
acceleration, SMEs can engage in and respond to client expectations in such ways
that not only create demand for the product or service, but generate repeat business
in addition to product or service modification and improvement. A disproportionate
number of SMEs in Africa crumble within six months to one year after the initial
business start-up. Very many others take long to even reach break-even point while
others realize very low and slow profits. Many SMEs in Africa fail to recognize the
power of CRM as driven by client engagement and data base management for
purposes of repeat business and profit acceleration. Studies have affirmed that
customer retention and repeat business have a significant impact on profitability.
Microfinance firms continue to emerge in micro-economies of Africa in general
and a number continue to struggle to remain afloat. This article analyzes the CRM
model in order to generate interest and recommend a practical approach for SMEs
in Africa in general. The content analysis method was employed based on critical
thematic aspects of the CRM model. The key finding was that there is a positive
relationship between CRM and business growth and acceleration. However, there
is a notable gap in the use of technology for purposes of data base construction, use
and management. Many SMEs in Africa will have to leverage technology in order to
realize effective CRM.
Description
Keywords
Environmental and social CRM model, customer relationship management and business acceleration