EBI Publications

But the success of CRM Strategy depends upon its ability to understand the needs of the customer and to integrate them with the organization’s strategy, people, technology and business process. The role of CRM is quite different and distinguishable to traditional type of marketing; CRM participates not only in marketing but also in implementing the business as a strategy to acquire, grow and retain profitable customers with a goal of creating a sustainable competitive advantage. The main objective of CRM is to retain current customers through increasing their loyalty and to select new customers that provide higher profitability and to achieve net growth in the total customer base. CRM understanding ranges from IT driven programs designed to optimize customer contact to comprehensive approaches for the establishment and design of long-term relationships. Thus, CRM is the core business strategy that integrates internal processes and functions, and external networks, to create and deliver value to targeted customers at a profit. Consequently, IT and marketing departments must work closely to implement CRM efficiently. The fundamental idea of Customer Relationship Management is to improve customer satisfaction degree by analyzing the customers’ detailed information, therefore, to improve the corporate competition ability. It is grounded on high quality customer related data and enabled by information technology.