What is CRM?
CRM in a Nutshell
Customer relationship management is a process or methodology used to learn more about customer’s needs and behaviours; and is used to develop and strengthen relationships with these valuable stakeholders. Although there are many technological components to CRM, thinking of it as a piece of technology is a mistake. The more useful, and appropriate way to think about CRM, is as a process that integrates information about customers, business activity such as sales and marketing effectiveness, responsiveness and helps you to identify market trends. In essence, CRM helps businesses to combine the use of technology , processes and people to:
- provide services and products that are exactly what your customers want
- offer better customer service
- cross sell products more effectively
- help sales staff close deals faster
- retain existing customers and discovering new ones
CRM strategies can help increase business proficiency and customer satisfaction; and as a result, provides your company with a healthy approach to become market leaders.