The Evolution of Customer Relationship Management (CRM): From Contact Management to Experience Orchestration

Abstract

The evolution of Customer Relationship Management (CRM) represents a significant paradigm shift in business strategies, transforming how organizations engage with and retain customers. This abstract explores the historical trajectory and the dynamic evolution of CRM methodologies, technologies, and philosophies. Beginning with the emergence of CRM as a data-centric tool in the late 20th century, it delves into its metamorphosis from transactional systems to customer-centric relationship-building platforms. The abstract highlights key milestones, including the shift from on premise to cloud-based solutions, the integration of social media and big data analytics, and the emergence of AI-powered CRM systems. It also examines the pivotal role of CRM in fostering personalized customer experiences, enhancing customer retention, and driving business growth. Additionally, this abstract explores the challenges and opportunities presented by the evolution of CRM in the contemporary landscape, emphasizing the need for ethical data usage, privacy concerns, and the imperative for businesses to adapt to the rapidly changing customer expectations. Overall, this abstract provides a comprehensive overview of the transformative journey of CRM, elucidating its evolution as an indispensable tool in modern business practices and its continued significance in shaping customer-centric strategies for the future.