ABSTRACT
In this text, we attempted to define the key inputs, components, strategies, and best practices of the CRM methodology. Some of the findings include:
• Organization structure and management can enable or hinder a CRM effort. • Data transformed into information and, subsequently, knowledge is the cornerstone of CRM. • Improved and cost-effective computer hardware has made it easier to build the backbone-
simple or complex-architecture of a CRM system. • Communication within the organization, across the value chain, and between customers and
organizations has become increasingly efficient and reliable. • CRM software options are more readily available, efficient, and easier to manage. • CRM measurement approaches have proven to be effective and are becoming more integral
to an organization’s marketing strategy. • Rapid technology adoption by customers and prospects has provided efficient communication
mediums between them and organizations. • Social media activity has generated an abundance of data that, when transformed into knowl-
edge, provides for a more optimal CRM effort. • Rising consumer concerns over privacy have precipitated the need for proactive measures with
regards to managing customer information. Many organizations have assigned executive ownership by creating the chief privacy officer position.
