Question

Why is customer relationship management important for companies?

a.

It's a cost-effective way to acquire new customers

b.

It helps in achieving the highest level of profitability

c.

The cost of retaining a customer is lower than acquiring a new one

d.

It streamlines internal processes

Posted under IC38 Life Insurance Agent Exam

Answer: (c).The cost of retaining a customer is lower than acquiring a new one Explanation:Customer relationship management is important for companies because the cost of retaining a customer is lower than acquiring a new one. It's a cost-effective way to maintain a customer base and achieve long-term profitability.

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