Future of Relationship Marketing
New Frontiers for Value Cocreation
Relationships and their management matter for startups, large firms in emerging or mature markets, for both business-to-business and business-to-consumer contexts.1 As such, firms spend more than $12 billion annually on customer relationship management (CRM) alone, a figure which will only go up as the utilization of big data increases.2 The increasing use of relationship marketing (RM) metrics enables marketing to demonstrate concrete returns (return on marketing investments) and to communicate with the finance department. In turn, this increases the resource flow to marketing, which boosts the performance of the firm further. This will increase both the prevalence ...
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