| CRM is the new strategy that almost every | | | | companies access to a tremendous amount of |
| business in the world uses to garner its | | | | data and has brought to fore a new aspect of |
| relationship with its customers. It is a set of | | | | CRM called as customer lifecycle management. |
| techniques which is used to gather, analyze and | | | | If you need a high ROI marketing program, then |
| sort customer data which helps a business | | | | it is crucial that you completely understand the |
| improve its relationship with the customer. | | | | CLC. |
| CRM has a very important aspect within it called | | | | Once you have a complete grasp of the CLC, it is |
| as Customer Life Cycle or CLC. | | | | easy to mold it according to your needs and |
| Customer life cycle can be described as the steps | | | | eliminate costs. |
| that the customer takes while considering, buying | | | | If you are a beginner to CRM and CLC, then it is |
| and using a product. It can easily be broken down | | | | recommended that you start off with the most |
| into several steps like reach, acquisition, | | | | basic tools trying to gauge the life cycle of your |
| conversion, retention etc. | | | | customer. |
| In simpler terms, it can be defined as the | | | | Understanding customer behavior is considered to |
| progression of steps starting with getting the | | | | be the first and most basic step of any CRM |
| attention of a potential customer, showing them | | | | program. Over a point of time, with the amount |
| what you have on offer, turning them into a | | | | of data that you have collected, you will be able |
| customer from a potential one and then finally | | | | to predict the behavior of a customer in the |
| retaining them as a customer for life by ensuring | | | | future. |
| complete satisfaction. | | | | This will enable you to target the most profitable |
| Recent Improvements | | | | section of your customer database in a much |
| The sheer power of the internet has given | | | | more precise and organized fashion. |