We should do away with the term customer relationship management. It’s not that businesses shouldn’t be managing those relationships, because they should. It’s that they should be doing much more to manage those relationships than they are.
With all the new social and e-commerce tools in place, the customer is now in control of the relationship and sets the rules for how he wants to deal with a company. Businesses must still focus on outbound marketing, call center automation, customer loyalty programs and other traditional CRM functions, but the winners in today’s markets will be those companies that optimize the entire customer experience. In other words, we don’t need CRM; we need CXM – customer experience management.
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