The impact of CRM on customer retention

CRM (Customer Relationship Management)is an integrated approach to identifying, acquiring, retaining and delighting customers. By enabling organizations to manage and coordinate customer interactions across multiple channels, departments, lines of business, and geographies. CRM helps organizations maximize the value of every customer interaction and drive superior corporate performance.

The challenge is to make it easy for customers to do business with the organization any way they want—at any time, through any channel, in any language or currency and from any country— and to make customers feel that they are dealing with a single, unified organization that recognizes them at every touch point.

In fact, the generally accepted purpose of CRM is to enable organization to better manage their customers through the introduction of reliable systems, processes and procedures for interacting with those customers for organizations.

Author: Ghavami, Arezu; Olyaei, Alireza

Source: Luleå University of Technology

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