What is CRM(Customer Relationship Management)??
CRM:
Customer Relationship Management (CRM) is a strategy that companies use to manage interactions with customers and potential customers. CRM helps organisations streamline processes, build customer relationships, increase sales, improve customer service, and increase profitability.
When
people talk about CRM, they might mean any of three things:
CRM
as Technology:
Technology product, often in the cloud, that
teams use to record, report and analyse interactions between the company and
users. This is also called a CRM system or
solution.
CRM
as a Strategy:
This is a business’ philosophy about how relationships with
customers and potential customers should be managed
CRM
as a Process:
Think of this as a system a business adopts to nurture and
manage those relationships.
What
does CRM software do?
CRM
software records customer contact information such as email, telephone, website
social media profile, and more. It can also automatically pull in other
information, such as recent news about the company's activity, and it can store
details such as a client's personal preferences on communications.
The
CRM system organizes this information to give you a complete record of individuals
and companies, so you can better understand your relationship over time.
CRM
software improves customer relationship management by creating a 360° view of
the customer, capturing their interactions with the business, and by surfacing
the information needed to have better conversations with customers.
Businesses choose
CRM software
CRM is the largest software market in the world, and has increasingly proven to be the best technological asset that companies can invest in. With the prominence that the cloud CRM software market has been gaining over the years, and the ease with which CRMs can integrate with other applications that businesses generally use, CRM systems help implementors cover every aspect of their business cycle with an increase in sales & marketing returns, all while helping them cut down on their costs.
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