1. Introduction
Accordingly, oil and gas companies are one of the successful business sectors in almost all countries as the business operations entail a useful component for every individual, group of people within the household and even in the government sectors. Thus, putting weight on the customer retention plan through the concepts of e-marketing strategies can be one good move for the oil and gas companies to keep track of the market and retain loyal customers on the other side. The fast pace of business cycle is entitled to change and adopt update process of information and technology and be in support to e-marketing strategy, oil and gas companies do possibly achieve a sound framework for customer retention and in a way provide undying customer satisfaction as a result of good management handling as well as better customer services offers.
2. Project Background
True, that customer retention can be in the critical aspect for the oil and gas companies as having impact on profit (1996). However, as business leaders try to implement the concept of customer retention in their companies, employees working with customers may come to regard customer retention (1996) or satisfaction (2001) as in themselves the goal of business. Regardless of what business leaders may be trying to implement in their companies, any employee interacting with customers is in position either to increase customer satisfaction or put it at risk. Employees in such positions should therefore have the skills to respond effectively and efficiently to customer needs (1994). Moreover, customer retention has been found to be key to profitability (1998) and an important determinant of market share among service firms (1999). Previous research into customer retention has focused on the potential advantages of pursuing strategies for satisfying or retaining customers, rather than on the concepts themselves. Satisfaction increases customer retention and customer retention depends on the substance of the relationship between parties (2000). Satisfied and properly served customers are more likely to return to an organisation than are dissatisfied customers who could choose simply to go elsewhere (1995). Retention can be defined as commitment to continue to do business or exchange with a particular company on an ongoing basis (2000). A more elaborated definition is to define retention as the customers’ liking, identification, commitment, trust, willingness to recommend and repurchase intentions, with the first four being emotional-cognitive retention constructs, and the last two being behavioral intentions (2001). The oil and gas company knows the customers and what they want, and the initial costs of attracting the customers have already been expended (1989). Old customers also pay less attention to competing brands and advertising, are less price sensitive and create favourable word-of-mouth (1998). Customer retention also brings benefits such as employee retention and satisfaction, better service, lower costs (1995), lower price sensitivity, positive word-of-mouth, higher market share, higher efficiency and higher productivity (2000). In addition, (1999) finds that the most critical element in retaining customers is the company’s customer philosophy, implying that companies ought to strive for complete satisfaction rather than just satisfaction among its customers.
3. Project Aims and Objectives
The aim of the project is to basically have the customer plan for oil and gas companies and understand the process through the use of e-marketing strategies in exploring how individuals serving customers experience the concepts of retention. How individuals within an organisation perceive the concepts as interesting for such reasons. First, if the people closest to the customers do not understand and accept the company’s attitude and rules about how to handle customers, then management has not successfully communicated their message. Without uniform understanding of the concepts, it is impossible for employees to promote the organisational goal. Second, when various staff members’ experiences of satisfaction and retention differ; that is, if they have created their own mental models of the concepts their different understandings lead to different actions in relation to customers. The objectives will be to examine the condition in synchronous manner, from the perspective of oil and gas companies dealing with customers. The project will be of value to anyone interested in how company staff actually experience and value customer retention as well as satisfaction by means of e-marketing like, the use of marketing mix within the industry.
4. Research Program
The methodology to take part in this research can be the ample utilization as well as integration of survey questionnaires as deemed to discover and understand first hand knowledge from specific number of customers from the oil and gas companies based in Malaysia in order for the project to attain validity of outcomes and acceptable research findings. The research program can be possible through:
Determine Basic Customer Profile – knowing its demographics and or background
Identify costs and constraints, knowing how much the budget will be
Gather appropriate materials and resources for the survey questionnaire construction
Creating Initial Process of Survey Questionnaire – pre testing for reliability and standardization
Finalize the contents to be incorporated in the survey questionnaire
Do the actual surveying – gather the chosen survey respondents
Have the results and do tabulation
Analyze and Interpret
The other useful method can be the use of case study analysis directly representing oil and gas companies. The need to present case study on customer development as case study will provide an insight into some of the tools and processes used to develop satisfaction and trust within the organization management.
5. Deliverables
Connect seamlessly with management solution to ensure compliance across media boundaries. Ensure comprehensive records retention and disposition capability. On-line collaborative retention plan development, approval and deployment with ability to maintain multiple retention schedules. Consistent application of retention policy regardless of media developing the competencies requires complete buy-in throughout companies and the implementation of nationalization program must include the critical success factors to ensure its success. Effectively balancing technical skills with interpersonal skills to enable success at customer level. Proven strategies for tackling the challenges associated with e-marketing. Retaining good customers is such a situation in the oil and gas industry. Internal and external environmental factors are some of the pertinent driving forces that are creating high turnover. Companies that do not have a defi nitive plan to address how to stabilize workforce will not be able to successfully meet corporate key performance indicators. Evaluate the success of e-marketing strategy and make continuous improvements. The need to create loyalty and retain customers has become more and more amplified over the past few years as companies recognize that the cost of acquiring a new customer is often considerably higher than gaining repeat business from an existing customer.
6. Commercial/Industrial Collaboration
The collaboration within customer retention in e-marketing process
Customer retention is about keeping the customers where they make purchases the oil and gas team should focused on retaining those customers:
Delivering service that’s consistent with value proposition and brand
Cross-selling, up-selling and asking for referrals from existing customers
Developing programs to increase customer loyalty and decrease turnover
Knowing the lifetime value for different segments and using that data to improve your marketing
Prioritizing retention as a major focus in your annual marketing plan
To collaborate planning, one of the crucial and critical issues is to have attention to the development of local resources mostly people, it is a commitment and countries where oil and gas companies operate and should be one of the most important e-marketing strategy priorities.
Effectively balancing technical skills with interpersonal skills to enable success at management level
Accelerating the development of workforce to ensure progressive advancements and increased retention
Meeting the demands of an expanding industry while aligning internal business goals
Ensuring that managers work in cooperation with other departments to raise the competency level and development of their workers is critical to business success and need to understand that they are an integral part, process that requires greater transparency.
7. Resources
Step 1: Getting to know customers - recognizing the worth of customers
Step 2: Defining your touch points
Step 3: Creating customer programs
In addition, technology efforts will help manage invaluable information that retrieve from customers allowing:
Creatively and carefully segment customer base
Provide superior service
Accurately target your marketing messages.
A simple survey process can help measure customer satisfaction. Survey can be easily distributed through regular mail, over the telephone, via e-mail and on your website. Keep in mind when creating a sample group; it should be large enough to hold statistical validity. Treat the survey as good marketing campaign. Give customers reason to respond, thank them and share the results. Use data to evaluate large groups of customers
8. Project Plan
First, companies have to know which customers are profitable. Second, they must research and understand what their customer defection rate is and the specific reasons for defection. Third, they must also know the value of their customer in the long run. Your marketing program should be derived from and support your company's mission and business plan. Therefore, the first step is to review your mission statement. Make sure that it is customer needs-based mission statement, not just product or competitive based. Second, research your customer base to identify the most profitable customers and customer segments. Third, measure your company's customer defection rates and take steps to reduce customer defections. Set goal for customer retention and communicate that goal to the rest of the company. Making customer retention a focus may also require organizational changes. Companies that operate with separate functional departments have a hard time ensuring quality for each customer's individual needs. Many companies have had to create customer teams - interdepartmental groups that focus on the success of one customer or a segment of customers. Fourth, stay in front of your customers at least four to six times each year. Fifth, go the extra step of learning customers' businesses and help them become more profitable. One company saved its customers 68 million dollars in annual costs by teaching customers how to use less of its product. Sixth, create a proprietary way of communicating customers. Make sure your customers know whom to contact when they have a problem or question. Provide them with information on the Internet or in customer service manuals. Constantly survey customers for feedback, and ask for detailed responses. If one of competitors anticipate customer need before you do, you very well may lose one or more valuable customers or an entire market opportunity.
TIMETABLE
Activity
Month
OCT
NOV
DEC
JAN
Search for Related Literature
Selection of the Topic
Definition of the Problem
Development of the Objectives
Selection of Methodology
Check the availability of resources
Verify the accessibility of the resources
Write the draft of the proposal
Prepare interview schedule
Secure adviser’s approval
Do the needed revisions
Test research tool validity
Select the study sample
Conduct research proper
Administer research tools
Do the assessment techniques
Gather and analyze results
Do the necessary data presentation
Interpret findings
Preparation of the final report
Formulation of conclusions and recommendations
Preparation of the table of content, appendices
Editing and Final Formatting
Printing
9.
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