Promotion strategies of customer relationship management

Abstract

In an era of rapidly changing technology and increasing reliance on the web, lasting customer relationship are critical to thrive in the market place, reorganizing company has become competitive mandate, not an option. e-CRM is just the right way to go about it. The need for e-CRM is dictated primarily by the new global electronic economy. CRM is a well-defined business strategy, is a fusion of series of functions, skills, processes and technologies which together allow companies to more profitably manage. It is a management approach to understanding and influencing customer behavior. A good thought experiment for an executive audience is to ask them how much they spend and focus on acquisition versus retention activities. By combining the abilities to respond directly to customer requests and to provide the customer with a highly interactive, customized experience, companies have a greater ability today to establish, nurture, and sustain long-term customer relationships than ever before.