Question

Customer relationship management systems hold great promise, but their usefulness is determined by the amount of personal data customers are willing to divulge. How can companies encourage customers to share useful personal information?

Answer 1

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. CRM incorporates commercial and client-specific strategies via employee training, marketing planning, relationship building and advertising. 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. CRM applications smoothen the progress to capture, consolidate, analysis, and enterprise-wide dissemination of data from existing and potential customers. CRM can be considered as an amalgamation of people, process and systems rather than just IT application.