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Crm Importance

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Momentarily, many businesses such as banks, insurance companies, and other businesses providers have implemented the importance of Customer Relationship Management (CRM) and its potential to help them gain new customers, retain existing ones and boost their lifetime value and achieve their business goal. At this point, strong relationship with valuable customers requires solid commination between IT and marketing departments to provide a long-term confinement of their customers. To begin with, (Swift, 2000, p.p. 12-13)) elucidate CRM help us to predict customer behaviour through intense communication with him/her to improve the performance which is represented in attracting the customer, keeping him/her and increasing his/her loyalty and profitability. …show more content…

The major importance of IT for an organization depends upon the information intensity of processes and the information content of the products. The strategic use of IT in an organization is therefore necessary for the bending of the IT strategy into the corporate strategy (Pan, 1996). Customer Relationship Management (CRM) is the formulation, development, maintenance and boost of long-term mutually valuable relationships between customers and organizations. The main aim is to find, attract, and win new clients, nurture and retain the ones the company already has, entice former client back into the fold, and try to reduce the costs of marketing and client service. The CRM system is a computer software construct to assist companies keep track of and easily access information about the customers or clients the business is dealing with. It is a connection of organizational strategy, information systems, and technology that is focused on providing better customer service. CRM system uses emerging technology that concede organizations to hand …show more content…

The role of each of these CRM element is as follow.
People: Implementing an application such as CRM requires a change in both the formation and culture of an organization. Employees are the building blocks of organizational achievement and they play a vital role in building

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