Asian Journal of Management, Entrepreneurship and Social Science
Vol. 4 No. 03 (2024): August Asian Journal of Management Entrepreneurship and Social Science ( AJMES

Application of Customer Relationship Management (CRM) Principles to Improve Customer Retention

Dony Ari Nugroho (Universitas Mercubuana, Indonesia)



Article Info

Publish Date
14 Aug 2024

Abstract

The application of Customer Relationship Management (CRM) principles is based on the company's need to face the challenges of increasingly fierce competition and evolving customer demands. The importance of maintaining a competitive advantage, companies need to manage relationships with customers effectively. CRM emerged as a strategic solution that allows companies to collect, analyze, and leverage customer data to improve their experience so that companies can not only better meet customer needs but also build sustainable loyalty. The purpose of this study is to explore the application of Customer Relationship Management (CRM) principles to improve customer retention. The research method used is a qualitative method with secondary data sources. The data collection technique used is documentation, then the data is analyzed with the Milles & Huberman approach through three stages, namely data reduction, data presentation and conclusion drawn. The results of the study show that the application of Customer Relationship Management (CRM) aims to increase customer retention through better and personalized relationship management. By leveraging customer data, CRM helps companies increase satisfaction, strengthen loyalty, and reduce churn. As a result, companies can improve business performance and profits.

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Journal Info

Abbrev

ajmesc

Publisher

Subject

Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences

Description

Asian Journal of Management, Entrepreneurship and Social Science (AJMESC) is a high quality open access peer reviewed research journal. providing a platform for the researchers, academicians, professional, practitioners and students to impart and share knowledge in the form of high quality empirical ...