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Explain Customer Relationship Management.

Explain Customer Relationship Management.

Explain Customer Relationship Management.

Jeeba Mar. 07, 2018

CRM can be considered as an amalgamation of people, process and systems rather than just IT application.

Customer Relationship Management is a strategy for managing all the company's relationships and interactions with their customers and potential customers. It helps them improve their profitability.

In other words, Customer Relationship Management (CRM) may be defined as a business process in which client relationships; customer loyalty and brand value are built through marketing strategies and activities.

CRM allows businesses to develop long-term relationships with established and new customers while helping modernize corporate performance.

The main objective is to retain as much loyal customers as one can. To accomplish with CRM, companies need to match products and campaigns to prospect elegantly the customer life cycle. CRM encompasses the function and responsibilities of those employees who directly work with customers.

CRM establishes the benefits of generating customer loyalty, raising a market intelligence enterprise, and an integrated relationship. Preserving existing customers and providing enhanced services to accomplish the loyalty is expressed as CRM.