• Purpose :
Many industries have reached the saturation point, which is marked by very high level of competition and acquisition cost. Therefore, companies within the industriy must quickly set customer retention & loyalty strategies as a priority. In other words, companies must get closer with their customers and build relationships. One of the most widely used customer loyalty concepts and strategies is Customer Relationship Management. This strategy is even more important considering customers are great contributors to company’s revenue and profit. However, many companies fail in implementing their CRM programs due to unclear strategies, and focuses on the hardware and software investment only.
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