Customer Relationship Management (CRM) defines guidelines, practices, and principles that organizations follow in interacting with their clients. An organization’s interaction with its customers encompasses activities such as forecasting, sales and service related processes, trends, and behavioral analysis. Adopting CRMs in company operations helps to enhance the overall customer experience. Consumers are increasingly concerned about the safety and privacy of personal data due to the ubiquity of the internet and related technologies. As such, enterprises must adopt measures that ensure the security of consumer data against identity theft, cyber threats, and security breaches.
Understanding Customer Relationship Management
Any company’s CRM strategy encompasses its website, mass emailing, and telephone conversations. Presently, companies are increasingly relying on social media to benefit their bottom lines. For this reason, CRM seeks to build, maintain, and retain positive customers’ perceptions. In turn, this keeps customers coming back for more as a company grows its brand in the marketplace.