Customer relationship management (CRM) also referred to as customer relationship management, is a set of strategies and practices that businesses use to manage their interactions with customers throughout the sale cycle. It involves the use of technology, tools and processes that collect and analyze information about customers and prospects.
The goal is to improve customer service and boost revenue. A CRM system equips sales reps with detailed data on potential customers, their purchasing history, and provides support teams the information they need to resolve problems quickly. The best CRM systems include marketing capabilities built-in that allow companies to send targeted messages to potential customers and clients depending on their interactions with the company.
It’s important to know the differences between the various CRM software available. Many of the most renowned CRM systems are integrated into enterprise resource planning (ERP) software, and others are stand-alone options. Choose a system that integrates seamlessly with existing martech stacks and is able to manage multiple tasks.
Once a business implements the right CRM system, it can help to create an image of its brand that boosts the customer’s loyalty and boosts sales. It is essential to establish relationships with customers who are loyal as they are more likely to recommend your products or services to their online sales promotions colleagues and friends. A great way to do this is through customer advocacy programs, which reward customers for their loyalty to the business.