Customer relationship management (CRM) is a set of methods and strategies companies employ to manage their relationships with customers throughout the sales cycle. It requires the use of technology, tools and processes for collecting data on customers and prospective customers.
The goal is to improve the quality of the customer experience, and ultimately increase business revenue. A CRM system provides sales representatives with complete information about prospective customers, their buying history, and gives support teams all the data they require to solve issues quickly. The best CRM systems come with marketing capabilities built-in that let companies send targeted messages to prospects and customers based on interactions they’ve had with the company.
When looking for a CRM solution it is important to comprehend the different types of CRM software that are available on the market, and what each offers. Many of the most renowned CRM systems are built into enterprise resource planning (ERP) software, while others are stand-alone solutions. Choose a system that integrates seamlessly with existing martech stacks and will handle multiple tasks.
If a company implements a CRM system, they can create a positive image their brand that will improve customer loyalty and boost sales. It’s important to establish relationships with customers who are loyal because they are more likely to recommend your product or services to their friends and colleagues. One way to do this is through customer advocacy programs that reward customers for their loyalty to the company.
