Customer relationship management (CRM) is a technology for managing all of a companys relationships and interactions with customers and potential customers. The goal is simple: improve business relationships. A CRM system helps companies stay connected to customers, streamline processes, and improve profitability. CRM systems compile customer data across different channels, or points of contact between the customer and the company, which could include the companys website, telephone, live chat, direct mail marketing, marketing materials, and social media. CRM systems can also give customer-facing staff detailed information on customers personal information, purchase history, buying preferences and concerns.
Customer Relationship Management
CRM systems are designed to compile information on customers across different channels or points of contact between the customer and the company which could include the companys website, telephone, live chat, direct mail marketing, marketing materials and social media. They allow businesses to learn more about their target audiences and how to best cater to their needs. This in turn helps companies build stronger relationships with customers, which leads to increased sales and profitability. Implementing a CRM strategy can empower sales teams to close deals faster while improving customer service and customer retention.