Customer relationship management is an unfulfilled dream for virtually every marketing organization. In a perfect world, all your marketing, merchandising, creative and service initiatives center on each individual customer and result in offering the best product to each customer in exactly the best possible way and time. Maximize return. Minimize waste. Be responsive to your customer. Market intelligently.
This holy grail is seemingly out of reach. Companies can, however, make it a more reasonable objective by charting a roadmap that corresponds to the analytical challenges of CRM. CRM is more than a marketing, merchandise or creative business initiative. The proper use of analytics can bring actionable decision intelligence to CRM initiatives. The analytical steps leading to effective and successful CRM are the focus of this article.
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