Customer Relationship Management (CRM)

Customer relationship management (CRM) involves managing all aspects of a customerís relationship with an organization to increase customer loyalty and retention and an organizationís profi tability. As organizations begin to migrate from the traditional product-focused organization toward customer-driven organizations, they are recognizing their customers as experts, not just revenue generators. Organizations are quickly realizing that without customers, they simply would not exist and it is critical they do everything they can to ensure their customersí satisfaction. In an age when product differentiation is diffi cult, CRM is one of the most valuable assets a company can acquire. The sooner a company embraces CRM the better off it will be and the harder it will be for competitors to steal loyal and devoted customers.

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