Encyclopedia of Customer Relationship Management, 1/Ed. (H.B.)

Customer Relationship Management (CRM) refers to systematic efforts in collecting and maintaining customer information and interaction data to establish and manage an organization's relationship with its customers. CRM includes a set of methodologies and software that help the organization's marketing and sales departments identify their target markets, their customers' tastes and preferences and their customers' buying behaviours. The purpose of CRM is to enable the employees of the organization access to customer-related data as needed and plan their marketing campaigns. The aim of CRM is to better serve the customers individually according to their tastes and preferences and maintain good relationships to help retain customers. This encyclopedic dictionary of CRM is presented in very nice and lucid style. This book contains the terms related to CRM which are associated with both the aspects i.e., hardware and software. The definitions of the terms included in this dictionary are described in very sophisticated manner. This dictionary primarily and essentially will be more useful for the students of retail courses, computers, and other professionals. The reader will come to appreciate many uses of CRM, from actively developing a following of profitable customers to turning non-profitable customers away in cost-savings manoeuvres.

1.  Understand the significance of CRM on the company's bottom line, both long- and short-term.

2.  Understand how CRM professionals work and think, including why customer service representatives tend to be the lowest paid staff on the corporate payroll.

3.  Understand the technologies, including their tradeoffs, that can be used to implement a CRM service.

4.  Appreciate best practices - what works, why it works, and how to evaluate a successful CRM effort.