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debakshi gupta
CRM and English Skills expert
Asked a question last year

What is a CRM strategy?

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debakshi gupta
CRM and English Skills expert

A CRM strategy states how to turn a customer base into an intangible asset for market valuations. Via operational feedback, it should evolve to integrate enterprise activity around customer targets.There is much confusion between a CRM business strategy and a CRM implementation plan. Many organizations think they have a CRM strategy when, in fact, what they have is a plan to build capabilities. A CRM strategy is a blueprint for turning an enterprise's customers into an asset by building up their value. It is based on an understanding of how an enterprise's competencies can be used to create value propositions for customers and the market segments that offer the most value potential, and then systematically developing that potential. An implementation plan states how an enterprise will build the new capabilities it needs to achieve this.