What Is Customer Relationship Management?

Customer relationship management (CRM) is an organizational strategy that focuses on improving customer satisfaction and loyalty by providing experiences that are unique to every individual. This is achieved through using technology, processes, and collaboration between departments.

In the past, maintaining these relationships was a laborious and manual process. Businesses kept customer contact details in filing cabinets and rolodexes, or in spreadsheets that were typically not shared with other departments. This led to missed sales opportunities and miscommunication. With the advent of new marketing-technology platforms that provide an integrated database of customer data, keeping track of relationships is much easier and more efficient. These systems are referred to as CRM systems.

CRM tools help to streamline and centralize customer information making it easier for teams to collaborate to nurture leads and improve the overall sales and marketing funnel. In addition to keeping track of lead and customer interactions, CRMs help companies determine the most promising leads by scoring them and prioritizing them, ensuring that salespeople only get in touch with qualified prospects. This can result in more conversion rates and greater purchase value, and could significantly reduce https://naukri-online-ads.com/ the time needed to close the deal.

Personalization is another crucial aspect of a CRM practice that lets customers know their business is valued. From sending a personal thank-you note after a sale, to tailoring the product or service to satisfy a particular need that creates a feeling of connection that encourages repeat purchases and brand advocacy.