Customer Relationship Management
Customer relationship management is an approach to manage a company's interaction with current and potential customers. CRM is a strategy for managing an organization's relationships and interactions with customers and potential customers. It uses data analysis about customers' history with a company to improve business relationships with customers, streamline processes, specifically focusing on customer retention, ultimately driving sales growth and improve profitability.
Through the acknowledgment of the distinct phases of CRM, businesses will be able to benefit from seeing the interaction of multiple relationships as connected transactions. The final factor of Customer Relationship Management highlights the importance of CRM through accounting for the profitability of customer relationships and amounts of attention to different types of consumers.
What are the benefits of CRM?
By collecting and organizing data about customer interactions, making it accessible and actionable for all, and facilitating analysis of that data, Customer Relationship Management offers many benefits and advantages.
· Enhanced contact management
· Boosted marketing ROI
· Empowered sales management
· Accurate sales forecasting
· Reliable reporting
· Improved customer satisfaction and retention
· Heightened productivity
· Enriched products and services
· Cross-team collaboration