What Is Customer Relationship Management?
Customer relationship management (CRM), also known as CRM, is a technique designed to improve the customer’s satisfaction and loyalty by creating unique https://naukri-online-ads.com/ experiences for every individual. This is achieved through making use of processes, technology, and collaboration between departments.
In the past, maintaining these relationships required manual and laborious processes. Businesses kept customer contact details in rolodexes and filing cabinets, or in spreadsheets, which were often not shared with other departments, leading to missed sales opportunities and the miscommunication of customers. With the introduction of new technology platforms for marketing that offer an integrated database of customer information, keeping records is much easier and more efficient. These systems are called CRM systems.
CRM tools streamline and centralize customer information, making it easier for teams to work together to manage leads and improve the overall sales and marketing funnel. CRMs track lead and client interactions and help businesses identify and prioritize the best leads. This enables salespeople to only reach out to qualified prospects. This can result in higher conversion rates and higher purchase values, and can significantly reduce the time required to close an agreement.
Personalization is another important element of a CRM process which shows customers that they are valued by the company. From sending a customized thank-you note after a sale, to tailoring the product or service to meet a particular need it creates a feeling of trust that motivates the purchase of more products and brands, as well as brand loyalty.