Customer relationship management (CRM) is a collection of strategies and practices companies employ to manage customer relationships throughout the sales cycle. It requires the use of tools, technology and processes for collecting data on prospective and current customers as well as customers.
The goal is to improve customer service and increase revenue. A CRM system can provide sales reps with complete information about potential customers and their purchase history, and it can give support teams the background and contacts they need to resolve issues swiftly. The best CRM systems also have built-in marketing capabilities that enable companies to send targeted messages to potential customers and clients based on their interactions with the company.
When shopping for a CRM solution it is important to know the different kinds of CRM software available on market, and what each provides. Many of the most renowned CRM systems are integrated into enterprise resource planning (ERP) software, and others are stand-alone options. To achieve the best results, choose a solution that integrates seamlessly with your existing martech stack and is able to tackle a variety tasks.
When a business adopts a CRM system, it can build a positive image of their brand, which will boost customer loyalty and increase sales. It is crucial to build relationships with customers who are loyal because they are more likely to recommend your product or services to their friends and colleagues. Customer advocacy programs are a great way to reward customers for their loyalty.