|
The concept of CRM (Customer Relationship Management) is not a new one. Slogans, such as "The customer is always right," and "The customer is king," have long permeated the culture of many companies cognizant of the importance of their customer base as sources of future business. Today, however, as competitive pressures multiply, the concept of Customer Relationship Management is enjoying renewed emphasis as a way to add to revenues and gain market share. Customer Relationship Management is also gaining in sophistication. Sending a bottle of Champagne after each deal might have been thought of as the best approach to customer relations several years ago, but in today's highly competitive marketplace, more sophisticated methods are warranted. Now, companies see the advantage of drilling down into their own customer databases to ascertain buying patterns, product preferences, the potential for add on sales, and so on.
|
