“The key is to set realistic customer expectations and then not just meet them, but exceed them – preferably in unexpected and helpful ways.” Richard Branson, founder of Virgin Group Customer Relationship Management (CRM) is a critical business strategy for fostering customer loyalty and driving long-term success. CRM encompasses a broad range of practices, technologies and strategies that companies use to manage and analyse customer interactions and data throughout the customer lifecycle. Why Customer Relationship Management? The goal of CRM is to improve customer service relationships, assist in customer retention, and drive sales growth. CRM systems compile data from a range of different communication channels, including a company’s website, telephone, email, live chat, marketing materials, and social media. They allow businesses to learn more about their target audiences and how to best cater to their needs. Key Strategies for Building Customer Loyalty through CRM 1) Personalisation Personalisation in CRM involves…
