According to “Harvard Business Review on Customer Relationship Management”, Customer Relation Management (CRM) is a technology that helps collect and track information about customers in order to offer better customer service, it also states that CRM is an ongoing business practice, not just a technology or a one-time thing.
In our opinion, Customer Relations Management is more than just that, it’s a practice that involves every department and area of an organization, it’s main objective is to build personal relationship with customer in order to create a commitment with them instead of just a retention. CRM, is an exercise that takes time and effort from the enterprise and the customer, the key of having an effective CRM strategy within an organization is to move from a product-centric company to customer-centric organization, considering that the customer is the biggest and most important asset of any business.
Every company should have a one-on-one relationship with each customer, being able to see customers as individuals with different interests, drives and motivations instead of numbers or money, because after all, every customer have a different reason of why they buy your product as well as a completely different experience with that particular brand; a relationship like this might seem impossible or unsustainable for some organizations, but with the growth and power that Social Media is gaining, it has become more possible to do so.
CRM is about getting to know customers better and having one-on-one relationship with them, with the proper use of Social Media this process can be much easier and personalize, it has become a powerful tool to gather insights about products or services, which could help enhance them, consequently becoming more customer-centric, which leads to a more profitable enterprise.