customer relationship management

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customer relationship management (CRM)

a strategic concept which focuses on business competencies, processes and technologies required to effectively service the needs and requirements of a firm's customers. As such CRM embraces key MARKETING activities and related INFORMATION MANAGEMENT in order to keep existing customers and attract new ones. The issue of customer retention has taken on a new imperative in the digital age, with the INTERNET and E-COMMERCE providing customers with greater opportunities to compare prices, switch suppliers etc. CRM recognises that businesses need to use these new technologies more proactively to their own advantage, either by developing IT capabilities in-house or relying on outside IT specialists, to provide call centres, sales force automation, marketing and data analysis and website management.
References in periodicals archive ?
CSG(R) Total Care, CSG's award-winning customer self-care application now delivers comprehensive Customer Profile Management capabilities, offering a new way for service providers to allow customers to define and manage their own accounts -- regardless of the underlying billing, customer care and network technologies.
Customer Profile Management (CPM) represents a paradigm shift beyond traditional customer self-care by providing a way for customers to manage their accounts and preferences from their own perspective.
This blended interaction environment also presents detailed customer profile information and previous product order history.
GEMS will provide the ability to market the ClubShare concept to a defined market that fits the Best Customer profile of RTCI's ClubShare members.
With this knowledge, BtoC and BtoB marketers in retail, finance, travel and e-commerce can identify the key decision attributes and messages that drive the highest response for each customer profile and directly impact sales and optimize the lifetime value of customer relationships.
View customer profiles and enter notes in the customer record while a call is in progress.
Automatically view the customer profile and contact history when calls come in.
Dynamic customer profiling for personalizing customer profiles -- enables context-specific data related to customer behavior and maximizes profitability
Target your customers more effectively through a greater understanding of bancassurance customer profiles and their motivations
Xchanging now has a single 360-degree view of each customer, including: contact information, customer profiles, appointments, service queries and a complete audit trail of interactions.

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