Customer Intimacy > WHY?

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Customer Intimacy > WHY?
JoykePitoy, Member
Why there should be such an intimacy in the relationship with the Customer today?

Reason for Customer Intimacy
Renu Sharma, Member
This valuable intimacy would act as a differentiator.

Why CRM?
Today the products are becoming commodities. To differentiate it from its competitors, it has become very important to feel the pulse of the customer and customize it accordingly. For that one needs to have a close relation with the customers.

Why is Customer Intimacy so Important?
Hassaan Khalid
I am not sure about this, but my teacher told me it takes only 3 months on average for your competitors to copy your product once you release it in the market. In some industries its even less.
This copying situation gives any firm two choices:
1. Come up with something new every one or two months and make your own products obsolete like mobile phone companies do. But that can be challenging.
2. Increase customer loyalty. If you have a good CRM system your customer keeps coming back to you. He is loyal. He will not look for other vendors in the market. It increases your opportunity for cross-sell and up-sell. It guarantees a continual revenue stream into the organization. Customer intimacy technically makes the customer feel he is valued and important. "Man's deepest desire is the desire to be important..."
So instead of gambling everything on innovation, you instead guarantee customers via customer intimacy. And they are a rich source of PR referrals too. So they bring more customers with them.

What Explains the Flow of Interest in CRM?
Felix C. Poudeu, Member
The flow of interest in CRM can be explained in part by the tremendous growth of the internet and electronic commerce (e-commerce). Internet growth and online retail revenue are projected to continue over the next decade. This growth in retail sales can be attributed to the remarkable increase of web users. Nielsen / netratings (2001)...

Reasons for Intimacy with Customers
Sapna, Member
There should be intimacy in relationship with customer to enhance the life time value of the customers with the organization. In other words, the intimacy in relationships helps in creating customer loyalty.


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