Why is CRM one of the most valuable assets a company can acquire?
A)Since organisations have not been successful in implementing SCM systems, they have turned their resources towards CRM
B)CRM has the ability to increase customer loyalty and retention and an organisation's profitability
C)It is easy for a company to steal their competitors loyal and devoted customers; therefore, companies need a viable process for targeting competitors' customers
D)Without CRM, it is impossible to effectively manage or cross-sell products to customers

Question

Quizplus · Accepted Answer

CRM allows companies to build strong relationships with customers, increasing their loyalty and retention which in turn leads to increased profitability. It also helps in understanding customer needs and preferences, allowing for better targeting and cross-selling of products. While the other options may be relevant to some extent, they do not provide a comprehensive explanation of why CRM is a valuable asset for a company.

Why Is CRM One of the Most Valuable Assets a Company