ELECTRONIC CUSTOMER RELATIONSHIP MANAGEMENT (E-CRM) - OPPORTUNITIES AND CHALLENGES IN THE DIGITAL WORLD
Keywords:
Electronic relationship with customer, Internet, Consumer value, Consumer needs.Abstract
A customer-focused approach to customer service, customer relationship management (CRM) aims to create enduring bonds with customers that benefit both the selling business and the consumer. In the current competitive market, keeping existing clients and attracting new ones is really difficult task. Furthermore, as a result of advancements in technology, the nature of business transactions has evolved. Since the internet is a vital component of any organization, many view it as an opportunity to reduce customer service expenses and strengthen relationships with customers, better personalised marketing strategies, and enable mass customisation. All techniques for managing client interactions using information technology fall under the umbrella of electronic customer relationship management, or E-CRM. In the service sector today, relationship marketing is taking the place of the antiquated transactional concept.
In an effort to establish a lasting relationship with the client by learning more about their requirements and expectations, the CRM idea was applied. This paper analyzes various opportunities and challenges that electronic Customer relationship management faces in the digital world. It also highlights the role and future prospects for adoption of E-CRM.
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