Foster Greater Customer Loyalty
[Source: The Retail Site - Retail Business News, Ideas, and Tips Blog
]Are loyalty programs alone enough to keep your customers in your store?
Integrated Solutions For Retailers, July 2008
Written by: Erin Harris
In the retail world, customer relationship management (CRM) has quickly evolved from a luxury to a necessity. If you do not retain, analyze, and use your customers’ key data, chances are another retailer will. In addition, CRM has grown from a cumbersome manual process to a proliferation of automated data collection, customized loyalty programs, one-to-one marketing efforts, and more. So, loyalty as it pertains to CRM is only one component of a multifaceted process. In this month’s Retail Solutions Forum, Tim Lemieux, senior VP and CIO of Ratner Companies, and Kathryn Murphy, VP of product management at Tomax Corporation, discuss CRM as a comprehensive discipline and where it’s headed next.
Why are retailers using CRM?
Lemieux: CRM allows retailers to better understand their customers and create demographic profiles, which lead to improved effectiveness in marketing efforts.
Read entire article at Integrated Solutions for Retailers
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