Question

course blueWells Fargo, one of the largest banks in the United States, uses a robust CRM system to manage its 70 million individual customers. The system has helped the bank improve its service sales and optimize the use of IMC tools such as email and social media to keep in touch on a regular basis with its customers. What other information can Wells Fargo’s CRM system tell the company?

Answer 1

Answer:

See answer and explanation below.

Explanation:

Generally, customer relationship management (CRM) is a technology that companies employ to manage their relationships and interactions with the existing customers and potential ones.

Other information Wells Fargo’s CRM system can tell the company include:

1. It provides information that can support it marketing strategy and sales.

2. It shows the most profitable customer of the bank and suggests technique to employ in order to improve product offering to these set of customers.

3. It identifies and provides information on different customer segment and improve the customer experience.