E-MailKCRM: Beyond "Word of Mouse"
Obsession with technology often leads us to miss the obvious in our search for the inobvious. Customer relationship management (CRM) is no exception, with the data mining, Web warehousing, clickstream tracking, and channel integration solutions that are being feverishly deployed by e-businesses. The location and information asymmetries that kept old economy customers loyal more by necessity than by choice lose their potency in e-business. Customers' tolerance for mediocrity, inconsistency, and poor service are replaced by an unforgiving demand for quality, service, and price competitiveness. Acquisition of customers on the Internet is a very expensive proposition (20%-40% higher than equivalent traditional businesses), and it requires the glue of loyalty to keep the business model from falling to pieces [5]. Amazon's 20-million-strong customer base (73% repeat buyers) serves as living proof that customers are price rational but not price obsessive.
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