Customer relationship management
Customer relationship management (CRM) is an approach that companies use to manage and analyze customer interactions and data throughout the customer lifecycle, with the goal of improving business relationships with customers, assisting in customer retention and driving sales growth. CRM systems are designed to compile information on customers across different channels or points of contact between the customer and the company ,which could include the company's website, telephone, live chat, direct mail, marketing materials and social media. CRM systems can also give customer-facing staff detailed information on customers' personal information, purchase history, buying preferences and concerns.
Elements of CRM range from a company's website and emails to mass mailings and telephone calls. Social media represents one way companies adapt to trends that benefit their bottom line. The entire point of CRM is to build positive experiences with customers to keep them coming back so a company creates a growing base of returning customers.
Why Do you need a CRM:-
Customer Relationship Management leads to satisfied customers and eventually higher business everytime.
Customer Relationship Management goes a long way in retaining existing customers.
Customer relationship management ensures customers return back home with a smile.
Customer relationship management improves the relationship between the organization and customers. Such activities strengthen the bond between the sales representatives and customers.
The Business Benefits
The biggest benefit most businesses realize when moving to a CRM system comes directly from having all your business data stored and accessed from a single location. Before CRM systems, customer data was spread out over office productivity suite documents, email systems, mobile phone data and even paper note cards and Rolodex entries. Storing all the data from all departments (e.g., sales, marketing, customer service and HR) in a central location gives management and employees immediate access to the most recent data when they need it. Departments can collaborate with ease, and CRM systems help organization to develop efficient automated processes to improve business processes.
Other benefits include a 360-degree view of all customer information, knowledge of what customers and the general market want, and integration with your existing applications to consolidate all business information.