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v. t. e. Customer relationship management (CRM) is a process in which a business or other organization administers its interactions with customers, typically using data analysis to study large amounts of information. [1] CRM systems compile data from a range of different communication channels, including a company's website, telephone (which ...
Customer knowledge ( CK) is the combination of experience, value and insight information which is needed, created and absorbed during the transaction and exchange between the customers and enterprise. [1] Campbell (2003) defines customer knowledge as: "organized and structured information about the customer as a result of systematic processing ...
The primary objective of customer success is to ensure customers achieve their desired outcomes with the product or service, consequently leading to improved customer lifetime value (CLTV) for the company. Customer success has become increasingly integral to modern businesses across various industries, with dedicated teams and specialized tools ...
Customer Support is a range of services to assist customers in making cost effective and correct use of a product. It includes assistance in planning, installation, training, troubleshooting, maintenance, upgrading, and disposal of a product. [1] Regarding technology products such as mobile phones, televisions, computers, software products or ...
Customer satisfaction is a term frequently used in marketing to evaluate customer experience. It is a measure of how products and services supplied by a company meet or surpass customer expectation. Customer satisfaction is defined as "the number of customers, or percentage of total customers, whose reported experience with a firm, its products ...
Customer engagement is an interaction between an external consumer/customer (either B2C or B2B) and an organization (company or brand) through various online or offline channels. [citation needed] According to Hollebeek, Srivastava and Chen, customer engagement is "a customer’s motivationally driven, volitional investment of operant resources ...
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Retention costs include customer support, billing, promotional incentives, etc. Period, the unit of time into which a customer relationship is divided for analysis. A year is the most commonly used period. Customer lifetime value is a multi-period calculation, usually stretching 3–7 years into the future.