Customer Relationship Management Essay Example | Topics and Well Written Essays - 2500 words

Customer Relationship Management - strain ExampleEngaging in CRM allows company employees, who work in various guest contact departments much(prenominal) as customer support, marketing and sales, to become better placed and able to make rapid and vigorous informed decisions on every aspect of the business ranging from competitive positioning tactics to up-selling and cross-selling opportunities. According to CRM Magazine, although it was formerly thought to be a type of software, CRM has gradually evolved and has now become a customer-centric philosophy that near organisations are adopting and developing various policies that help it permeate throughout the various organisations. CRM is seen to encompass a localise of three key elements that play an important role in the success of a well develop CRM program. These three elements are basically technology, people and process (destinationcrm, 2010). Customers have long been considered as being the biggest plus to any business enterprise and more often than not, this definition is seen to specially apply to those customers who will fall out engaging with the business and hence remain its customers in the future (Rust, Lemon and Zeithami, 2004). Customers are usually sensed as the main reason for which companies as well as business enterprises exist. The value of a accustomed customer can be calculated so as to show the customer lifetime value. The customer lifetime value (CLV) is commonly defined as the current value of the entire. The value of a given customer can be calculated so as to show the customer lifetime.