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Marketing And E Business. Essay

860 words - 3 pages

Just as the term e-business no longer refers to the simple practice of conducting business on the Internet, the expression e-CRM has evolved from just an online point application to a more comprehensive, ongoing strategy to enhance the end user's overall experience. Today e-business not only encompasses the exchange of goods and services online, but also has grown to include customer service and business collaboration. In turn, e-CRM, developed as a complement to a business's overall CRM strategy, has morphed to become an integrated online plan that includes Web analytics, content management, self-service, and collaboration. Now that e-CRM takes a more holistic view of the customer, the employment of appropriate online technologies will only move it closer to replicating the real-time interaction in the offline world that produces happier customers, sustained loyalty, and increased sales.With the onset of the Internet came a push for companies to establish a global presence. In fact, a recent Frost & Sullivan report valued the global CRM marketplace at $11 billion last year. In addition, this report listed the interactive marketplace as one of the main drivers of this growth--tallying a 30 percent increase between 2000 and 2001. Since the online world has become such an integral part of day-to-day business and because it appeals to such a mass, global universe of consumers, businesses are constantly searching for innovative, yet cost-efficient, methods to reach these relatively faceless individuals. Furthermore, e-businesses must also face the daunting task of harnessing the once "borderless" Internet in a manner that complies with new restrictions and regulations, moving e-CRM from a "nice to have" methodology to a "must have" strategy. The most successful e-CRM strategies are those that closely tie the company's online initiatives to corporate business objectives. And contrary to current perception, this can be accomplished through technology without a large investment in time, resources, and money.Additionally, one must need to take a look at adding a new type of business intelligence--IP-based intelligence--to your e-CRM strategy in order to start nurturing those long-term customer relationships. IP-based intelligence technology provides real-time information about an online user such as geographic location down to a city-level worldwide, connection speed, and Internet Service Provider--all based on the user's IP address. Until now, there has been no way to reliably extract such information about an online user unless he or she provided the information. And more often than not, consumers are unwilling to part with such valuable--and personal--information for fear that it will be mishandled or sold to a third party. Using third party databases and other such methods to gain customer insight have proven less than accurate....

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