Relationship marketing is considered one of the main commercial philosophies in customer-focused institutions.. Companies have understood that to maintain long-term success, they must be closer to the market, listen to customers, anticipate their needs, and design products and services to satisfy and retain them.
As competition intensifies, product innovation is undoubtedly one of the key items that institutions must rely on to stay ahead. At the same time as technical leadership, companies need to know how to reach the customer.
Customer engagement, customer understanding, and relationship building have become a primary focus.
It is no wonder that at this time many potential clients are bombarded with calls, emails, personal visits, emails and all kinds of marketing communications from different companies trying to get their attention. From the telecommunications company, the banking entities, as well as the neighborhood restaurant that you frequent, try to determine a link that transcends a single transaction.
It may also be of interest to you:
Improve your marketing campaigns with a CRM
What is a CRM
ECRM: meaning, evolution and benefits
Evolution of relationship marketing towards CRM
One of the consequences of the evolution of relationship marketing was the birth of CRM solutions.. At the same time as CRM, we have also witnessed the emergence of new departments and disciplines in institutions, such as customer service or the key account management department.
Relationship management is part of the vision and business ethics that the organization intends to adopt as a core value system. When an organization decides to build its business areas around relationship management, the organization combines its profitability purpose with customer relationship management to create a synergy that all departments benefit from.
On the other hand, the CRM can be described as a catalyst for relationship marketing in any business. CRM software involves processes that include software and hardware components, which automate and help manage interactions with customers. the difference between relationship marketing and CRM It is synthesized in that relationship marketing works at the strategy level, a CRM helps to implement this strategy. The success of CRM as a concept is widely recognized through the commercialization of CRM systems by the IT companies that developed the software. This has helped multinationals implement standardized customer management processes at scale in all regions and markets.
Along with the software packages, there are many services available locally that are tailored to each particular industry. In a market where all companies compete for space in the minds of customers, what helps them retain them, it is the vision of relationship marketing that is expressed through the CRM channel.