Relationship Management

Relationship Management

A strategy employed by an organization in which a continuous level of engagement is maintained between the organization and its audience. Relationship management can be between a business and its customers (customer relationship management) and between a business and other businesses (business relationship management).

Relationship management is a focus of the financial and investing industries as a way to identify potential cross-sales of products and services.

Relationship management aims to create a partnership between the organization and its audience rather than consider the relationship merely transactional. Consumers who feel that a business responds to their needs are more likely to continue using the products and services that a business offers. Additionally, maintaining a level of communication with consumers allows the business to identify potential sources of costly problems before they come to a head.

Investment dictionary. . 2012.

Look at other dictionaries:

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  • Relationship Management Application (RMA) — is a service provided by SWIFT to manage the business relationships between financial institutions cite web | url= id=57203 | title=RMA – Taking relationship management to a new level | publisher= S.W.I.F.T.… …   Wikipedia

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  • Customer relationship management — (CRM) is a widely implemented strategy for managing a company’s interactions with customers, clients and sales prospects. It involves using technology to organize, automate, and synchronize business processes principally sales activities, but… …   Wikipedia

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  • Complementor Relationship Management — Complementor Relationship Management, kurz CoRM (dt. Komplementorenbeziehungsmanagement) bezeichnet das Management der Geschäftsbeziehung zu Komplementoren. Unter dem Management von Geschäftsbeziehungen (Relationship Management) werden allgemein… …   Deutsch Wikipedia

  • Enterprise relationship management — Articleissues advert = October 2007 refimprove = October 2007 cleanup=October 2007 context=October 2007 expert=Business and EconomicsEnterprise relationship management or ERM is a business method in relationship management beyond customer… …   Wikipedia

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