When managers use research, they are applying the methods of science to the art of management and all business undertakings operate in the world of uncertainty. There is no unique method which can entirely eliminate uncertainty; however, research methodology, more than any other procedure, can minimize the degree of uncertainty. Thus it reduces the probability of making a wrong choice amongst alternative courses of action. This is particularly significant in the light of increasing the competition and growing size which make the task of choosing the best course of action difficult for any business enterprise.

It is imperative that any type of organization in the present environment needs the systematic supply of information coupled with tools of analysis for making the sound decisions which involve the minimum risk. Under this context, the research methodology plays a very important role.

Research is not an existing bag of techniques and it is not a fishing expedition or an encyclopedic gathering of assorted facts. It is purposeful investigation. It provides a structure for the decision making. There are three parts involved in any investigation namely; 1) the implicit question method; 2) the explicit answer proposed; 3) collection, analysis and interpretation of the information leading from the question to the answer.

In fact, the third part is the defense that justifies the recommendation and is viewed as research. For example, the following statement can be considered: “We recommend that model X television can be priced at $15000”. This is the recommendation forwarded to the marketing head by the marketing manager in charge of research wing. The implicit question posed in this quote is what should be the selling price of the model? The explicit answer is $15000. The third part deals with collection, analysis and interpretation of the information leading from the question to the answer of $15000.

The word: “research” identifies a process by which the organization attempts to supply the information required for making sound management decisions. In fact the research is not synonymous with common sense. The difference revolves around words such as “systematic”, objective and reproducible. Both research and common sense depend on information; the distinction between them lies in the procedures and methods adopted by which the information is obtained and used in arriving at conclusions. The research cannot address itself to the complete information on a particular subject. As such, the two secondary characteristics of research specify “relevance” and “control”.

When it comes to good research, the systematic approach is very much essential and each step should be so planned that it leads to the next step. It is usually very difficult to go back and correct the mistakes of the previous step; sometimes it is impossible. Even when it is possible, it always involves loss in time and money. Research can be divided into a number of steps and both the number of steps and the names are somewhat arbitrary; however, the recognition of a sequence is crucial. Planning and organization are part of this systematic approach with a lot of emphasis given to the interdependence of various steps.

Customers are the foundational stone of any enterprise. Further, the process of identifying them and retaining them as an integral part of their business functions. Now, the very purpose of a CRM software is manage the organization’s relationship with the customers. This relationship goes to five stages before turning into a mature and long term bonding. Developing a successful customer relationship management (CRM) strategy is the crux of the entire game with the sole objective of getting insights into customers’ buying behavior, and keeping them loyal.

Let’s discuss these customer life cycle stages:

1. Reach-

Major objective of this phase is to attract the customers.

This is done by letting them know about your brand and its characteristics. Here, the targeted market segments are identified and the key information are propagated through various media channels- such as, paper-based, electronic or internet-based etc.

This aims to make the customers curious to know more about it and facilitate them to ask you about it. For this, you must have a clearly defined brand strategy using marketing techniques- social media marketing, banner advertising, and content marketing etc.

2. Acquisition-

This phase provides for lead management.

Here, you acquire key information of the potential customers, such as- contact details, their preferences. Various modes of communicating with them are applied, such as- Email, sales calls etc.

3. Conversion-

In this phase, you actually convert a potential customer into a buyer or paid customer.

The sales persons attempts to convince them about the benefits of availing your products and services. In addition, the pricing is also negotiated. Once the leads are converted into opportunities, and they create sales orders, they become a new customer for you.

4. Retention-

Only a well satisfied customer can be loyal to you. For this, you will need to keep communicating with them. Many ways to do this are- care for them by asking the problems if any they are facing, encouraging them to provide their feedback. This way, you make them an integral part of your business process. Thus, as your business decision making becomes a more participative, there are greater chances of becoming it as a stronger and growth oriented enterprise.

5. Endorsement-

Once your customers are deeply satisfied, they are likely to become the carrier of word of mouth. They evidently spread the awareness of your brand into their own social networks. This way you get more potential customers from your existing and loyal customers.

Dynamics CRM, which is the state-of-the-art CRM solution provided by Microsoft, can extend you a helping hand in each of these crucial stages. As available with Dynamics 365 Marketing, numerous in-built features, such as leads, marketing lists, campaigns, quick campaigns help you in running an effective marketing campaigns. In these campaigns, you can automatically send the key messages to customers in any list through emails. This provides you ways to collect information about your products and sales literature, which you can share with the customers immediately at your wish. It also facilitates you to effectively manage the customer information, using Accounts and Contacts.

One of the most important Dynamics CRM feature is that you can effectively manage your workspace, through dashboards and activities. The dashboard provides you an integrated and comprehensive view of analytical CRM data. This, in turn, helps you in effective decision making. Furthermore, Activities tab presents you with an organized view about tasks, emails, phone calls, appointments, etc.

There are many more capabilities available with Microsoft Dynamics CRM that can make your customer relationship management as an exciting experience.