1/28/2009
The objective of Customer Relationship Management (CRM) boils down to one simple concept: loyal, profitable customers. Loyal because longtime customers tend to buy more and are easier (and subsequently more cost effective) to sell new products to than trying to acquire new customers. Profitable because this is what makes or breaks a business.
This is a practical definition of CRM:
"The ability of an organization to effectively identify, acquire, foster, and retain loyal, profitable customers."
Download the full whitepaper on The ABC's of CRM.
