What Is Customer Relationship Management?
Customer relationship management (CRM), also known as CRM, is a process which aims to increase customer satisfaction and loyalty by creating experiences unique to each individual. This is accomplished through a combination of processes, technology, and teamwork across departments.
In decades past, maintaining these relationships was a lengthy and manual process. Businesses would store customer contact information on rolodexes, filing cabinets or spreadsheets. These weren’t shared with other departments, which often resulted in missed sales opportunities and confusion. Maintaining relationships has become easier and more effective with the advent of modern marketing technology platforms that offer an integrated database of customer data. These systems are known as CRM systems.
CRM tools facilitate and centralize customer information which makes it easier for teams to collaborate to nurture leads and improve the overall funnel for sales and marketing. In addition to analyzing customer and lead interactions, CRMs assist companies to identify the best potential leads by scoring and prioritizing them, so that salespeople are only contacted with prospects who are qualified. This can result in higher conversion rates and purchase values, and can significantly reduce the time it takes to close an agreement.
Personalization is a key element of a CRM strategy that shows customers they are valued by the company. Sending a personalized message of appreciation after the sale http://naukri-online-ads.com or tailoring a service or product to meet a specific requirement creates a connection that encourages returning customers and brand recognition.