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Events and information management - CRM (Customer Relationship Management)

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  1. The importance of CRM
  2. Example of Sephora
  3. Best practices and potential risks of CRM
    1. Best practices
    2. Potential risks

Until very recently, businesses were more focused on selling as many products and services as possible, regardless of who was buying them.
Nowadays, competition is just a click away. Companies in difficulty realize that without customers, products do not sell and revenues do not materialize. They have been forced to become smarter in sales. Hence the need for Customer Relationship Management (CRM), which refers to the practices, strategies and technologies used by organizations to manage and analyze customer interactions and data throughout their life cycle, the quick development of the Internet and its related advancements has extraordinarily expanded the open doors for marketing and has changed the path connections among organizations and their customers are overseen ((1) Ngai, 2005). In the context of customer relationship management, with the aim of improving business relationships with customers, building loyalty, and stimulating sales growth.

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