Customer relationship management (CRM), also known as CRM, is a strategy that aims to improve the customer’s satisfaction and loyalty by creating experiences unique to each individual. This is achieved through combining technology, processes, and collaboration between departments.
In decades past maintaining these relationships was a laborious and manual process. Businesses used to store customer contact information on rolodexes, filing cabinets or spreadsheets. They were not shared with other departments and often led to lost sales opportunities and the inability to communicate. With the advent of new technology platforms for marketing that offer a central database for customer data, keeping track of relationships is much easier and more efficient. These are referred to as CRM systems.
CRM tools facilitate and centralize customer data, making it easier for teams to collaborate to manage leads and improve the overall funnel for sales and marketing. In addition to tracking lead and customer interactions, CRMs assist companies to determine the most promising leads by scoring them and prioritizing them, ensuring that salespeople are only contacted with prospects who are qualified. This results in greater conversion rates and higher purchase value, and could significantly reduce the time it takes to close the deal.
Personalization is an additional aspect of a CRM process that shows customers they are valued by the company. From sending a personal thank-you note after the sale, to customizing a product or service to meet an individual need, this creates https://naukri-online-ads.com/customer-relationship-management/ a sense of connection that drives customers to return to purchase and brand loyalty.