Summary

One of the biggest drivers for improved performance and innovation is increasing customer loyalty. This is based on the value proposition that it is far more expensive to attract new customers than it is to keep your existing ones. The higher the personalization and ˜customerization , the greater the chance your business has to improve customer retention in the modern e-business era. To help this, businesses are increasingly using CRM systems, data mining and B2C web technologies to streamline and improve exchanges with the customer. Again, knowledge and the use of it is a major leverage in how well a business grows and sustains competitive advantage. However, there are no short- term easy gains; it takes a commitment to service, ethical practice and discovery.