E-commerce: All about Customer Relationship Management Apr 1, 1999 – © Nazan Fathy Customer relationship management (CRM) is all about understanding the customer’s needs and leveraging this knowledgeto increase sales and improve service. CRM blurs the boundaries between sales and service, and unify a company’s activities around the customer. The overarching goal is to increase customer share andcustomer retention through customer satisfaction. The strategic importance of managing customer relations is not new by any stretch of the imagination. What is new, is the customer centricity focusthat CRM brings to a company. This new focus is the direct result of the electronic world. The World Wide Web is the perfect place to get to know and cultivate the client on a one-to-one basis. Itoffers an unparalleled opportunity to personalize services, provide multiple choice for customer support, track customer satisfaction and deliver loyalty programs. The implementation of CRM goes beyondautomating functions. It entails a fundamental change in the culture and operations of an organization. It also means addressing the infrastructure requirements for its implementation on the web. Asuccessful CRM implementation strategy needs to consider the following: Knowledge Management: At the heart of a CRM implementation is the acquisition of information about a customer, its analysis, sharingand tracking. Also integral to the use of knowledge for competitive advantage is for employees to know what actions to take as a result of this knowledge. Database Consolidation: This involves theconsolidation of customer information in a single database and the re-engineering of business processes around the customer. The goal is to have all interactions with a customer recorded in one place todrive production, marketing, sales and customer support activities. Integration of Channels and Systems: The epitome of online service is to respond to customers in a consistent and high-quality…