Now I would like to conclude that the goal of this article is to find out the impact of Customer Relationship Management on Customer Retention. If the company has the ability to create value for its customers then this is the key to generate long-term customer loyalty. The customer relationship management system has played a very important role in this regard. There is an interaction between customer satisfaction, customer loyalty and customer retention. Organizations must understand the buying behavior of their customers and also to recognize their needs throughout the entire customer life cycle. There must be accountability and transparency at organizational level so that customers must be treated properly.
Companies must realize this fact that long term customer loyalty should be focused instead of short term profitability. All around the globe the companies either small or large are trying to utilize CRM system in an effective manner so that they might be able to compete in this current arena. As today not only making new customers is difficult but also holding existing customers is quite a challenging task. If companies are able to delight their customers then they will make their customers loyal and loyal customers can be retained for a longer period of time.
If due to some reason organizations are unable to retain their customers then they must try to win-back their valued customers. In win-back stage the organization will take special effort to reactivate or to revitalize the relationship with those customers who have terminated the relationship with the company. But the first and foremost priority of the company should retain their customers and try to fulfill their needs with the best of their abilities and talent so that they may not lapse their association with the organization.