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What does CRM stand for?
Customer Relationship Management.Salesforce describe it here
What does customer relationship management mean?
Customer relationship management (CRM) is the combination of practices, strategies and technologies that companies use to manage and analyse customer interactions and data throughout the customer lifecycle. The goal is to improve customer service relationships and assist in customer retention and drive sales growth. CRM systems compile customer data across different channels, or points of contact, between the customer and the company, which could include the company's website, telephone, live chat, direct mail, marketing materials and social networks. CRM systems can also give customer-facing staff members detailed information on customers' personal information, purchase history, buying preferences and concerns.
What is the function of a CRM?
CRM software records customer contact information such as email, telephone, website social media profile, and more. It can also automatically pull in other information, such as recent news about the company's activity, and it can store details such as a client's personal preferences on communications.
The CRM system organises this information to give you a complete record of individuals and companies, so you can better understand your relationship over time.
CRM software improves customer relationship management by creating a 360° view of the customer, capturing their interactions with the business, and by surfacing the information needed to have better conversations with customers.
What are the advantages of CRM software?
Better knowledge of customersBetter segmentationBetter customer retentionBetter anticipation of needsBetter and speedier communicationBetter protection of data privacy
How Can CRM Benefit My Business?
How important is CRM today?