SRM Definition
SRM is defined as a business strategy that seeks to improve the quality of an organization’s relationships with its customers. The goal of SRM is to create value for the customer and the organization through improved customer satisfaction, loyalty, and retention.
The main objectives of SRM are to:
– Enhance customer satisfaction by providing a better user experience
– Increase customer loyalty and repeat business
– Improve customer retention rates
– Drive down costs associated with customer support and service
