3. Increasing Customer Loyalty

3.1. Key Terms in CRM

Customer relationship management (CRM) in building customer loyalty 

A philosophy, technology, strategy and tactics, making use of customer information to stimulate increased customer loyalty. 

Loyalty 

The commitment by a customer to return to the business to make further purchases, and/or to recommend the business to others. 

Word-of-mouth (WOM and eWOM) referrals 

A powerful organic source of brand image development that occurs naturally, and where a firm can actively encourage satisfied customers to create conversations about the brand with others in their network. Also known as influencer marketing.