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The Blockchain Approach to Customer Relationship Management

Published 01/14/2020, 07:00 PM
Updated 01/14/2020, 08:42 PM
The Blockchain Approach to Customer Relationship Management

It has long been understood that satisfied customers are key to a thriving business. Customer relationship management, or CRM, enables just that by helping a business engage meaningfully with its customers, improving profitability while lowering costs. With companies ​spending​ a whopping $48.2 billion on CRM software in 2018 alone — up more than 15% from the previous year — and a forecast that CRM will ​become​ the largest segment in the software market by 2020, it’s curious that only ​46%​ of businesses invested in such solutions last year.

The reasons for the lackluster retention vary, but some patterns seem clear:

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