Discusss about the Customer identification and analysis for Facebook along with analysis of key interaction process and relationship atmosphere.
Before analysing the key customers of Facebook, the business model of Facebook has to be identified and analysed effectively that includes both business to business along with business to customers (Facebook, 2018). The customers of Facebook are segregated into two main categories that include developers and the other part is marketers and advertisers. In order to serve the entire purpose of the report, the marketers and internet users will be taken into consideration as they directly connect with Facebook (Chang et al. 2014).
Key Corporate Client {Customers and Advertisers}
The corporate clients of Facebook consist of the different customers and advertisers. However, the main customer of Facebook is Kenshoo that is one of the Google’s largest search advertisement clients that takes up the maximum sales of Facebook in which there is separate entity when counting the overall sales.
The collaborative relationship with customers in Facebook has with Kenshoo is beneficial for both the companies as they are the market leaders in the competitive market. Both the companies are trying to expand their presence through providing the customers with bundle of services and Kenshoo was chosen as this has the right amount of resources and this will attract more customers.
Interaction Process & Relationship Atmosphere
When Facebook is dealing with B2B customers, the respective company uses the micro network response in such a manner it assists them in enhancing the customer relationship of the strategic importance (Facebook, 2018).
Key Account Mangement
Facebook employs different key account managers to maintain the positive type of relationship with the corporate clients and customers. The practices related to the strategy practices the relational model. In the Pre-Kam stage, Facebook identifies the accounts that are essential as this assists them in maintaining the different kind of maximisation of the operations as this can provide the end users with proper products and services. The main goal is to hold the possible reach of the customers within easy type of transactions (Chang et al. 2014).
For instance- Facebook has been introduced in front of the public as a page that tried to connect the customers who are away from each other and tried to connect them socially. The main motive of the company was to create long term relationships with the customers effectively. Furthermore, Facebook has collaborated with WhatsApp to gain stronger customer base in the economy as this created more focus in gaining competitive advantage in the market (Chang et al. 2014).
The second stage is helping in retaining the key accounts by development of the customers in the organization. There are different kind of customer loyalty quiz programs organized by Facebook and they collect the different feedbacks provided by the employees as this was the promotional event for the organization (Khodakarami and Chan, 2014).
The third stage is the Mid-Kam that helps in fostering the relationship between the key customers along with the company Facebook. The commitment of the Facebook is essential in gaining strong customer base and this helps in valuing the relationship with the customers in the market as well. Facebook performs the task by appointing key accounts manager to the clients who are strategic and the identification of risks are done to analyse the risk involved in it and reduce the same in an appropriate manner.
The key accounts manager needs to have strong along with positive attitude to know and understand the customers effectively. The process of training is essential to be provided to employees and key accounts manager to engage the different customers appropriately and this helps in engaging the customers effectually.
The fourth stage is the partnership-Kam wherein this included the different relationships are maintained and this reduced the cost. Both Facebook and Kenshoo have made marketing efforts to increase their social presence by implementing different technological advancement implementations and this reduced their expenses related to marketing as well and reach the customers effectively.
Lastly, the final stage includes synergistic-Kam wherein all the companies work in an independent manner to achieve the goals in an appropriate manner. Facebook and Kenshoo tries to execute different account managers through providing assistances as this will help them in ensuring the customers to gain competitive advantage in the market.
Customer Relationship Management
Facebook utilizes the Haystack, Scribe and Thrift software in their entire process that are based on customer relationship management. These kind of software programmes provide the real time information on the usage patterns of the different customers such as the time spent by them on the Facebook page along with their opinions. The major section of the strategic CRM network is the data repository system that has been applied by Facebook in the business model (Khodakarami and Chan, 2014). There are four major aspects of the framework of CRM that starts from process of development of strategy till the process of assessment of performance.
Strategy Development Process
In the strategy development process, this is essential in nature to figure out the achievements that has to be achieved by the company along with the analysis of their desire. In the particular case, Facebook desires to expand the entire share in market along with working with a similar company that has similar kind of objectives to create significant kind of influence (Soltani and Navimipour 2016).
This is parallel to Early-KAM stage wherein Kenshoo was the perfect fit as an advertiser in the business strategy of Facebook “Helps you connect and share with the people in your life” (Eichorn 2018). It is one of the market leader in the entire company that assists in providing necessary resources and it creates right amount of scale for the expansion in global market.
Value Creation Process
After the identification of the different customers to work in the future and in the present scenario, Facebook analyse the different data that was provided in the CRM software as this helps in figuring out the best kind of service of Kenshoo in providing value added services (.
Both Facebook and Kenshoo have been bundling the different kind of services together in order to strengthen the share in market along with increase the social level of desirability. Both the companies have tried to enhance the image of their organization by combining the efforts of corporate social responsibility. This helps in saving time and costs by the involvement of the different campaigns (Valmohammadi and Beladpas 2014).
The partnership of Facebook with Kenshoo has done beyond the service exchange that is transactional relationship. The relationship between has been perfect and collaborative in nature in terms of innovation, operations, marketing along with sustainability diversity that is benefitting both the companies effectually in the market.
Multi-Chanel Integration Process
The multi-channel process of integration helps in ensuring that different departments are up to date on requirements of relationships along with addressing the problem within possible time without any kind of overlap. Facebook dedicates the division to Kenshoo in order to ensure that all the departments are unified and there are different tools equipped without any type of incongruence (Choudhury and Harrigan 2014). This will help in enhancing the experience of the customers by ensuring that the complete profile of customers is maintained systematically in organization.
Performance Assessment Process
This is the last process that helps in monitoring the different results and this is developed on rubric developed by the organization. The key performance indicators can be utilised in order to evaluate the requirements of the job and the performance of the job performed by them. The further developments can help in benefitting the customers and this ensures continuous improvement regarding the building of the relationship (Valmohammadi and Beladpas 2014).
With the usage of key components of strategic CRM framework, Facebook is being able to progress proper relationship with Kenshoo. The different data that has been obtained in each step can be used to customise the experience of customers. The different departments use CRM software to share the different information in order to customize the same.
Relationship Environment
The purchaser relationship between Facebook and Kenshoo advertiser is favourable equally to both the companies and they are interdependent in nature as well. the theory related to resource dependency can be functional and the sales of both the companies are related to one another and this is such that when the sales of Kenshoo falls, this will create fall in the sales of Facebook along with the share in the market. This helps in showing the reliance between them in the market.
Furthermore, the premise of the relationship of Facebook and Kenshoo are based on similar kind of goals as well as value. If there is any kind of change, there will disturb the dynamics of relationship and this can cause breakdown in the relationship as well. The trend that has been set by Facebook has helped the customers in managing the customers in an appropriate manner by setting different kind of trends that are helpful and attractive to the customers (Choudhury and Harrigan 2014)
References
Chang, H.H., Wong, K.H. and Fang, P.W., 2014. The effects of customer relationship management relational information processes on customer-based performance. Decision Support Systems, 66, pp.146-159.
Choudhury, M.M. and Harrigan, P., 2014. CRM to social CRM: the integration of new technologies into customer relationship management. Journal of Strategic Marketing, 22(2), pp.149-176.
Eichorn, F.L., 2018. Internal customer relationship management (IntCRM) a framework for achieving customer relationship management from the inside out. Management, 2, p.1.
Facebook. (2018). Facebook – log in or sign up. [online] Available at: https://www.facebook.com/ [Accessed 14 May 2018].
Khodakarami, F. and Chan, Y.E., 2014. Exploring the role of customer relationship management (CRM) systems in customer knowledge creation. Information & Management, 51(1), pp.27-42.
Navimipour, N.J. and Soltani, Z., 2016. The impact of cost, technology acceptance and employees’ satisfaction on the effectiveness of the electronic customer relationship management systems. Computers in Human Behavior, 55, pp.1052-1066.
Soltani, Z. and Navimipour, N.J., 2016. Customer relationship management mechanisms: a systematic review of the state of the art literature and recommendations for future research. Computers in Human Behavior, 61, pp.667-688.
Valmohammadi, C. and Beladpas, M., 2014. Customer relationship management and service quality, a survey within the banking sector. Industrial and commercial training, 46(2), pp.77-83.
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