What is customer relationship management (CRM)? How can CRM be maintained in e-commerce ?

Customer Relationship Management (CRM): CRM is an information industry term for methodologies, software, and usually internet capabilities that help an enterprise manage customer relationships in an organized way. Today, CRM is the central customer repository for all things. Organizations build databases about their customers that describe relationships in sufficient detail so that management, salespeople, service personnel, and perhaps the customer can access information, match customer needs with product plans and offerings, remind customers of service requirements, know what other products a customer had purchased, and so forth. Maintaining CRM in E-commerce: CRM has evolved significantly, especially in the global economy where e-commerce solutions have advanced beyond simple shopping carts. In e-commerce, CRM can be used to manage all aspects of the purchase and customer relationship. As direct interaction with the customer is minimal in e-commerce, this central customer record becomes critical and acts as a contact manager. Harnessing the power of the Internet to drive a closer relationship with customers is the goal of CRM. It can be integrated at all stages, from searching, placing orders, order confirmation and execution, to user feedback, thereby assisting in providing a simple, quick, and seamless experience to customers. In E-commerce, CRM tools can be designed to learn more about customers, their preferences, and clever ways to market and re-market to them. Most importantly, these tools enhance convenience not only for the customer but also for the company. CRM enables businesses of all sizes to be more efficient and predictable.