Marketing Relationship Management (MRM): Managing the Power of Information
Marketing Relationship Management (MRM) is the convergence of Customer Relationship Management (CRM) and marketing. Integral to an organization's overall marketing strategy, MRM creates a value-based connection between companies and their customers, making marketing more personal and relevant. Concurrently, MRM maximizes a company's CRM investment, making optimal use of interactions with key customers and the information gathered from them.
MRM enables companies to facilitate interaction with their customers on a regular, yet relevant, basis to create and cultivate deeper relationships. It's about understanding customer behaviors - not just demographics - to make the most of customer touch points.
CRM and marketing have crossed the digital divide to meet today's consumer's need for convenience, speed, information and personalization, resulting in digital MRM. Digital MRM uses intelligent technologies to transform and leverage traditional marketing elements within a digital environment. From the desktop to wireless devices, digital MRM solutions create an integrated approach to reaching customers when and where they prefer with greater relevance to achieve measurable benefits.
To that end, customers are better informed on the products and services that are of most interest and relevance to them. In turn, customers are buying more, trying more, learning more, and referring more products or services to friends and family. For companies, this means increased revenue, improved retention, enhanced service, greater share-of-customer, and a deeper understanding of behavior and how to influence it.