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Chapter 2. CRM Basics > CRM Is a Business Strategy

CRM Is a Business Strategy

CRM is a business strategy focused on maximizing shareholder value through winning, growing, and keeping the right customers. It employs practices, methodologies, software, and Internet capabilities that help an enterprise manage customer relationships in an organized way.

For example, when a business traveler approaches the service counter at the airport, most major airlines are able to access information that tells them who that customer is. They know whether he travels coach or first class, and how frequently he travels. They can also examine the profitability of the relationship with a particular customer to determine if that customer's travel habits make him a very desirable customer to retain. This knowledge determines, at least in part, what priority that traveler will receive and the level of additional services he can expect.


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