Customer relationship management (CRM) is also referred to as CRM, is a method which aims to increase the customer’s satisfaction and loyalty by creating experiences unique to each individual. This is accomplished by the use of technology, processes and collaboration between departments.
In decades past maintaining these relationships was a laborious and manual process. Businesses used to keep the contact details of customers on filing cabinets, rolodexes and spreadsheets. They weren’t shared with moved here other departments, which often led to missed sales opportunities and the inability to communicate. Maintaining relationships has become much simpler and more efficient with the advent of new marketing technology platforms that provide a centralized database for customer data. These are known as CRM systems.
CRM tools simplify and centralize customer information, making it easier for teams to work together to nurture leads and improve the overall sales and marketing funnel. In addition to tracking customer and lead interactions, CRMs help companies determine the most promising leads by scoring and prioritizing them so that salespeople are only contacted with prospects who are qualified. This can lead to higher conversion rates, purchasing values and cut down on the time it takes to close a deal.
Personalization is among the most important aspects of a well-run CRM system because it shows customers that their business is valued. From sending a personal thank you note after an order, to modifying a product or service to satisfy the needs of a specific customer it creates a feeling of trust that motivates repeat purchases and brand advocacy.