08 Aug What Is Customer Relationship Management?
Customer relationship management (CRM) is a collection of strategies and practices businesses use to manage customer relationships throughout the sale cycle. It involves the use of technology, tools and processes to gather and analyze data about customers and prospects.
The goal is to improve customer service and increase revenue. A CRM system equips sales reps with detailed data on potential customers, their purchasing past and can provide support teams the information they require to resolve issues quickly. The best CRM systems also come with marketing capabilities that enable companies to deliver targeted messages to prospective customers and clients in response to their interactions with the company.
When you are looking for a CRM system it is important to know the different types of CRM software available on market, and what each offers. Some of the most well-known systems are integrated into ERP software (ERP), while others are standalone solutions. You should look for a solution that integrates seamlessly with existing martech stacks and can take on various tasks.
When a company implements a CRM system, they will create a positive image for their brand which will increase customer loyalty and drive sales. Loyal customers are more likely to endorse your products and services to their colleagues and friends, so it’s critical to establish connections with them. Customer advocacy programs are the perfect way to reward loyal customers.
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