E-MARKETING OPPORTUNITIES AND CHALANGES

Topic: E-CRM

By,
Gowthami Budarapu

ABSTRACT:
Customer Relationship Management (CRM) is a way to identify, acquire, and retain customers - a business' greatest asset. By providing the means to manage and coordinate customer interactions, CRM helps companies maximize the value of every customer interaction and in turn improve corporate performance.
E-CRM, or electronic Customer Relationship Management, is an integrated online sales, marketing and service strategy that is used to identify, attracts and retains an organization’s customers. It describes improved and increased communication between an organization and its clients by creating and enhancing customer interaction through innovative technology. E-CRM software provides profiles and histories of each interaction the organization has with its customers, making it an important tool for all small and medium businesses.
Internet-based companies need to remain competitive. One way of improving competitive advantage is to attract more customers and increase customer retention; for example, by developing long-term, secure relationships between the buyers and sellers. Little empirical research has been conducted on the link between customer relationship management and customer loyalty within an Internet, or e-commerce, context.
Electronic Customer Relationship Management (ECRM) has become the latest paradigm in the world of Customer Relationship Management. ECRM is becoming more and more
Necessary as businesses take to the web. No longer can web-enabled companies rely on the traditional brick & mortar strategies that have gotten them to where they are today.
Such organizations have to evolve with the market instead of behind it. This paper promotes the value of ECRM, explores its benefits, and outlines the focal points to address Prior to