![]() Companies require to understand the needs, preferences, and buying behavior of customers in order to plan and execute interactions that create best possible experience for their customers. In today’s market conditions, customers demand better service and expect more from companies. This chapter ends with discussing the strategies to turn customers into assets and create devoted customers. This chapter explains the customer life cycle management and proposes a holistic framework for customer life cycle management. The main purpose of this chapter is to discuss the characteristics as well as the strategic objective of CRM strategy. ![]() In the absence of CRM strategy, companies fail to harvest the benefits of CRM. Strategic integration of CRM philosophy into company culture and operating processes are required to deliver superior customer service and experience. Companies cannot deliver outstanding customer value, service, and experiences only through investing in CRM technologies. However, considering that CRM is only limited with technology would be a big mistake for the company. CRM technologies enable the company to understand customer behavior better, predict their future behavior, deliver customized customer experience, and establish long-term customer relationships. ![]() ![]() AbstractCRM is fundamentally essential for the future of the company.
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