Businesses will increasingly use customer relationship management (CRM) strategies to support business acquisition aims, an industry expert has said.
Paul Greenberg, author of CRM at the Speed of Light, noted that the lingering effects of the recession this year have prompted many organizations to use CRM initiatives to retain existing customers, rather than seek out new ones.
"In a recession, people tend to spend less, so businesses wanted them to spend more of what they would have otherwise spent with them," he told mycustomer.com.
"Did it aid the end of the recession? As much as anything else did, sure."
However, Mr Greenberg noted that as the economic recovery continues to pick up, businesses will use CRM to develop relationships with new customers to a greater extent.
The comments come after Steven Pinchuk of Profit Optimization Strategies recently argued that CRM should no longer be regarded as just a database of customer names and contact information.
Writing for hospitalitynet.org, he claimed instead that CRM should take on a key role in supporting profit optimization across entire enterprises.
Posted by Richard Jones