What is this practice and how effective is it?

Customer relationship management (CRM) models aim to more clearly identify what companies need to do not just to satisfy customers but also to build their loyalty and profitability. A whole software industry has risen from nowhere to grab a slice of this market. But it has failed to understand a crucial point. Companies need to make customers want to do business with them instead of trying to sell them products and services they don’t want to buy. That’s why the vast majority of CRM systems never recover the costs they absorb. We will look at how you can use CRM systems to support strategy rather than just act as a more sophisticated sales tool.

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