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What Is CRM?What Is CRM?

Customer relationship management (CRM) combines practices, strategies, and technologies businesses use to manage and analyse customer interactions and data throughout the customer lifecycle. The goal is to improve customer service relationships, support customer retention, and drive revenue growth. CRM systems collect customer data through various channels or contact points between the customer and the business, including the website, phone, live chat, direct mail, marketing materials, and social media—the company. CRM systems can also provide frontline staff detailed information about customers’ personal information, purchase history, purchasing preferences, and concerns.

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Why CRM is Beneficial for Companies

  • The use of CRM systems can benefit organizations, from small businesses to large corporations, by:
  • Easy access to customer information, such as past purchases and interaction history, can help account managers provide faster and better customer service.
  • By collecting and accessing customer data, companies can use reporting and visualization capabilities to identify trends and information about their customers.

CRM Components

At its most basic level, CRM software consolidates customer information and documents it into a single CRM database for easy access and management by business users.

Over time, many additional features have been added to CRM systems to make them more useful. These functions include recording customer interactions via email, phone, social media, or other channels; depending on system functions, automation of various workflow automation processes, such as B. Tasks, Calendar, and Notifications; and allowing managers to track performance and productivity using the information recorded in the system.

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