A company's first step in customer relationship management should be to ________.

Question

Quizplus · Accepted Answer

The first step in customer relationship management should be to identify customers and get to know them in as much detail as possible. This helps in creating personalized experiences for customers and enhancing their loyalty towards the company. It also helps in understanding customer needs and preferences, which can be used to customize the product or service offering to meet their specific requirements. Ranking customers based on sales volume or identifying transactions that will be abandoned can be done at a later stage once a strong relationship has been established with the customers. Identifying customers that cost the company money may not be an ideal approach as it may lead to losing potentially valuable customers. Customizing the product to meet the individual needs of customers is also a later stage activity that requires a good understanding of the customer's preferences and requirements.

A Company's First Step in Customer Relationship Management Should Be