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Future of CRM

In: Customer Relationship Management

Author

Listed:
  • V. Kumar

    (Georgia State University)

  • Werner Reinartz

    (University of Cologne)

Abstract

This chapter discusses the current and future states of CRM. As it stands, there are three current CRM perspectives: (1) Strategic CRM, has as an objective to mold the interactions between a firm and its customers in order to maximize CLV for the firm. (2) Analytical CRM, which is designed to help firms migrate from relying entirely on traditional marketing metrics to customer-based value metrics. (3) Operational CRM, is gaining significant traction among firm due to changes with respect to (a) consumers, (b) marketplaces, (c) technology, and (d) marketing functions. This chapter also discusses three key areas in which CRM will be expanding in the near future: (1) Social CRM (2) Global CRM and (3) Database CRM.

Suggested Citation

  • V. Kumar & Werner Reinartz, 2012. "Future of CRM," Springer Texts in Business and Economics, in: Customer Relationship Management, edition 2, chapter 17, pages 357-372, Springer.
    • Handle: RePEc:spr:sptchp:978-3-642-20110-3_17
    DOI: 10.1007/978-3-642-20110-3_17
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    Cited by:

    1. Karen L. Orengo-Serra & María Sánchez-Jauregui, 2021. "Coping with earthquakes and COVID-19: A perspective of customer relationship management," Estudios Gerenciales, Universidad Icesi, vol. 37(159), pages 318-331, June.
    2. Lamrhari, Soumaya & Ghazi, Hamid El & Oubrich, Mourad & Faker, Abdellatif El, 2022. "A social CRM analytic framework for improving customer retention, acquisition, and conversion," Technological Forecasting and Social Change, Elsevier, vol. 174(C).
    3. Guha, Abhijit & Grewal, Dhruv & Kopalle, Praveen K. & Haenlein, Michael & Schneider, Matthew J. & Jung, Hyunseok & Moustafa, Rida & Hegde, Dinesh R. & Hawkins, Gary, 2021. "How artificial intelligence will affect the future of retailing," Journal of Retailing, Elsevier, vol. 97(1), pages 28-41.

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