Today is the era of digital technology to building a strong relationships with their customer rather than traditional method of making relationships with customers. In competition market the marketers try their best to achieve the competitive advantage over each other making a digital business strategy to retain the customer for longer time & satisfied them.
Therefore, the most effective tool which building a long term relationship with is through a Customer relation management (CRM) the idea behind is that it helps business to gain insight into the behavior of customers & the values of customers.
The Customer relation management (CRM) is the overall process of building and maintaining profitable customer relationship by delivering superior customer values & satisfaction. The new view in market is that marketing is an art & science of finding, retaining & growing customers
Following are the features of the CRM to helps marketers to building long run relationship with customers.
• Provide better customer services.
• Simplify marketing & sales process
• Make Call center more efficient
• Discover new customer
• Based on the assumption that the cost is 5 to 10 times more to attract a new customers
than it does to keep a current customer satisfied.
• Must be concerned with the life time value of the customers beaus the loyal customers
provide more & more credible referrals to the company.
• The value of loyalty goes beyond single customers
