Three Pillars of Relationship Marketing

    In order to support the customer relationship with the products and services of a firm, there are three main pillars of relationship marketing, which are shown in the figure given below:

    Three Pillar of Relationship Management

    1. Customer Relationship Management

    The first pillar is termed Customer Relationship Management (CRM).

    This can be seen as a process where potential customers are first aimed at and obtained. Then these customers are served in such a manner that a long-term customer relationship is developed.

    In this way, CRM is helpful in creating value for both customers and organizations. Different types of data, information, knowledge, and customer insights are elements of CRM.

    2. Customer Experience Management

    Customer Experience Management (CEM) is the next pillar of relationship marketing.

    In CEM, customer experiences (i.e., channels encountered by the customers and interaction and transaction of the customers with the organization or the product/service) are managed by different processes and methodologies.

    3. Customer Collaboration Management

    The third pillar of relationship marketing is Customer Collaboration Management (CCM).

    It is the strategy used to involve the customer in a relationship-building interaction, which is often conducted over social media.

    It is also known as ‘CRM 2.0’ and ‘social CRM.’ Generally, organizations monitor and direct the CCM, whereas customers have full control over it.

    Disclaimer: While we make every effort to update the information, products, and services on our website and related platforms/websites, inadvertent inaccuracies, typographical errors, or delays in updating the information may occur. The material provided on this site and associated web pages is for reference and general information purposes only. In case of any inconsistencies between the information provided on this site and the respective product/service document, the details mentioned in the product/service document shall prevail. Subscribers and users are advised to seek professional advice before acting on the information contained herein. It is recommended that users make an informed decision regarding any product or service after reviewing the relevant product/service document and applicable terms and conditions. If any inconsistencies are observed, please reach out to us.

    Latest Articles

    Related Stories

    Leave A Reply

    Please enter your comment!
    Please enter your name here

    Join our newsletter and stay updated!