Visitor Relationship Management (VRM) Like CRM for Website Visitors

Giants like Oracle, newcomers like Siebel Systems and innovators like Salesforce towards the dawn of the century gave birth to the most advanced and widely used concept in the world of marketing – Customer Relationship Management. Though the concept of collecting customer data, analyzing it to customize communication with customer was present much before the term CRM was coined, the modern-day CRM solutions go much beyond the traditional task of collecting and analyzing data. In the past four decades, CRM solutions have come a long way where it has given birth to a new concept, Visitor Relationship Management – Visitor Relationship Management, to provide justice to the new and still evolving online business models. According to Statista, the worldwide retail e-commerce sales in 2016 was USD 1.86 trillion and is expected to reach USD 4.5 trillion by 2021. In 2016, an estimated 19 percent of all retail sales in China occurred via internet; while, the same percentage in Japan was 6.7 percent.