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What is Customer Relationship Management? Customer Relationship Management (or CRM) is a phrase that describes how your business interacts with your customers. Most people think of CRM as a system to capture information about your customers. However, that is only part of the picture.
1 CHAPTER – 1 CUSTOMER RELATIONSHIP MANAGEMENT: AN INTRODUCTION The emergence of services organizations in the corporate sector, the. A Framework for Customer Relationship Management For example. Exhibit 1 shows the results from a McKinsey study on the simulated impaa of improvements in a number of customer-based metrics on the market value of Internet companies. The metrics are divided into three categories: customer attraction, customer conversion, and customer retention.
Customer Relationship Management is a complex process which is based on a good knowledge of habits and needs of customers. It assumes constant collection of information of customer’s behavior, as bank’s goal is to give offer to customers based on his needs. Understanding the customer relationship life-cycle The QCi Customer Management Assessment Tool (CMAT) Customer Operations Performance Centre (COPC) Standard Supportive culture and improved cross-functional. Handbook of CRM.