Unit Summary

In Part A of this unit, we looked at what CRM and retention strategies are and how you can use them as part of your digital marketing strategy to deliver increased revenues and improved customer satisfaction. We discussed some of the functions of an effective CRM system and loyalty programmes and the power they can have to encourage customers to return more often and spend more money. 

In Part B of Unit 3, the role and importance of Permission Marketing for online CRM has been addressed together with database marketing and profiling methods. CRM has developed over the decades and will continue to evolve with the new technological advances that enhance the opportunity that businesses have to interact with customers. Businesses should be ready to adapt to their CRM initiatives to meet new customer behavior in a dynamic market.

Unit Checklist:

• Defining CRM and retention
• CRM systems
• Paradigm shift in Marketing
• Ladder of Loyalty
• Retention strategies 
• Permission Marketing
• Database Marketing
• Profiling and personalization in CRM
• Customer centric companies
• e-CRM  and benefits and challenges
• CRM and Nurturing relationships through Social media
• CRM and Complaint Management systems