CRM stands for Customer Relationship Management. There are more than 45 definitions of CRM (Zablah, Bellenger and Johnston, 2004), used in academic literature, on main CRM portals or used by top CRM vendors. All in common represent a strategy to reduce costs and increase profitability by keeping long term relationships with customers (consumers, companies, government, or even other department of the same firm).
- customer satisfaction
- customer retention
- strategic information, reporting
- increase of customer lifetime value