Importance ofClient Relationship ManagementBSBREL403A – Implement International Client Relationship Strategies1
Definition•Enabling an organisation to better manage relationships with suppliers, distributors, and dealers, among others.•A business strategy that uses IT to provide an enterprise with a comprehensive, reliable and integrated view of its customer base so that all processes and customer interactions help maintain and expand mutually beneficial relationships. (software focus)2
Definition•“Process of storing and analysing the vast amounts of data produced by sales calls, customer-service centres and actual purchase yielding greater insights into the customer behaviour. “(Data storage and analysis)•“…CRM would include all activities that turn casual consumers into loyal customers by satisfying or exceeding their requirements to the extent that they will buy again.” (Relationship)3
Purpose of CRM•Is to identify, retain and please the right kind of customers and to encourage return buying.