What is CRM?
CRM or Customer Relationship Management is a strategy for managing an organization’s relationships and interactions with customers and potential customers. A CRM system helps companies stay connected to customers, streamline processes, and improve profitability.
Benefits of CRM –
- CRM enables a business to deepen its relationships with customers, service users, colleagues, partners, and suppliers.
- Sales teams can use CRM to understand their sales pipeline better.
- Marketing teams can use CRM to make forecasting simpler and more accurate.
- Customer service teams can effectively track conversations across channels
- Supply-chain, procurement and partner management teams can manage relationships better.
- The HR team can use CRM to accelerate the recruitment process and track employee performance.
- Forging good relationships and keeping track of prospects and customers is crucial for customer acquisition and retention, which is at the heart of a CRM’s function.
- You can see everything in one place — a CRM is a simple, customizable dashboard that can tell you a customer’s previous history with you, the status of their orders, any outstanding customer service issues, and more.
- CRM solutions increase your profitability by streamlining administrative processes in your sales, marketing, and service divisions, and letting you focus on building and maintaining the customer relationships that matter.
- A strong CRM – Customer Relationship Management Solution is a multifaceted platform where everything crucial to developing, improving, and retaining your customer relationships is stored. Without the support of an integrated CRM solution, you may miss growth opportunities and lose revenue because you’re not optimizing your operating processes or making the most of your customer relationships or sales leads.