Customer Relationship Management is gradually being appreciated as an essential skill that all managers at all levels of businesses or services must have in large measure. It is the tool that not only attracts new customers but also ensures brand and product loyalty from the existing one. Complacent managers/ business owners might feel that a certain customer might be too old to worry about and they take them for granted. It starts a chain reaction that leads to disgruntled customers or clients. Managing a business or office is a multi task effort. An effective manager needs to delegate as many tasks as he can, but not at the risk of ruining customers he already has. A satisfied customer will not only ensure that he/she is loyal to your company and brand but will be a valuable (and free) source of advertising. Another point to note, talking to your existing customers is a good way of finding much needed improvements in your product/service quality. Quick and remedial action by managers or staff on the spot can avert disastrous situations and convert a disgruntled customer to one that remains loyal to the brand/company for a long, long time. An organization may use several processes to track and classify contact with new or existing customers. Specific software is used to support these processes; a customer database may be stored and accessed by the staff as and when needed. CRM aims to develop services or products provided to customers and to use customer data for product/service promotion. For example, many of us get phone calls from telemarketers offering extended loan/credit card facilities on our existing bank accounts. This is a small example of what CRM does. About the Author: