What is CRM - Customer Relationship Management

In order to manage and analyze customer interactions and data across the customer lifecycle, businesses employ a mix of practices, strategies, and technology known as customer relationship management (CRM). The objective is to strengthen interactions with customers in order to promote client retention and increase sales. CRM systems gather information on customers from various points of contact between them and the business, such as the company’s website, the company’s phone line, live chat, direct mail, marketing materials, and social media. CRM systems may also provide staff workers who deal with consumers in-depth knowledge of their personal data, purchasing history, shopping preferences, and issues.

Why CRM benefits businesses

Organizations of all sizes, from small enterprises to major multinationals, may benefit from the adoption of CRM systems because:

  • Having easy access to client data, such as prior purchases and interaction history, can assist customer support employees offer better and quicker customer care.
  • Businesses may use reporting and visualization tools to detect patterns and insights about their consumers by collecting and having access to customer data.
  • Automation of tedious yet essential customer service and sales funnel duties.

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