"Shri" :

Suggests fortunes . "Shree" means Lakshmi which also means luck or fortune.Therefore, one who recites this name also [bad word] fortunate just like Lakshmi.
 [bad word] :

Destroys all the sins that are performed by us in our previous lives and the current one.

"Shna":

Keeps at bay all the miseries that one experiences in the world.

"Sha":

Saves one from having to take birth again and again in thousands of forms and suffer miseries.

"Ra":

Enables one to experience and understand the heavenly form and heavenly deeds of the Lord.

"Nam":

Makes one's devotion towards Shri Krishna strong.

"Ma":

Initiates eternal love for Shri Krishna

"Mah":

Enables one to enjoy [bad word] of Shri Krishna till eternity and keeps one from undergoing the the circle of life forever.