Principles of Customer Relationship Management

Customer Relationship Management (CRM) involves the strategic management of a firm's interactions with both current and potential customers. Its primary objective is to enhance business relationships by analyzing customer data, particularly historical interactions with the firm. CRM emphasizes customer retention as a key strategy for driving sales growth. Integral to CRM are systems that aggregate data from various communication channels, such as telephone, email, marketing materials, live chat, and social media. The essential function of CRM is to help companies gain a deeper understanding of their target audiences, thus, enabling them to address customer needs more efficiently and effectively. This book elucidates the concepts and innovative models around prospective developments with respect to CRM. It explores all the important aspects of this field in the present day scenario. It will serve as a valuable source of reference for those interested in this field.