What is a CRM and why customer relationship management?
What is CRM?
CRM software centralizes all the information within an organisation to give one coherent, full view of each customer. This enables all employees of the organization, whether that is customer support, sales, marketing or call centers, to make quick and knowledgeable decisions on anything and everything from targeting to cross selling, but most importantly, to your customers who has complete knowledge and history of their interactions with you.
CRM's benefits are straightforward, but will vary from company to company, based on your company's objectives. If done well, it can support an increase in customer revenues by helping you acquire new customers or expand your relationship - and the purchases - of retained customers. It will provide you with greater customer insight which will then allow you to customize or at least improve the experience of your customers with you which then increases their loyalty - and optimally turns them into your evangelists. It can also automate those processes in sales marketing and customer service that need it as your business scales - sometimes you need to be able to automatically route a customer service problem that is located on the Internet to the right party inside your company - without a human trolling the web, entering the data manually and knowing the right person.
It can help you understand the status of opportunities inside your sales pipeline, run more effective marketing campaigns as it tracks the customer's historic responses - or analyzes the results of the campaigns as they occur - it can also provide you with the customer service tools to support more effective resolution support.
It also provides a single customer record that looks at all the activities of a customer in a single place - from their sales records to marketing responses, to their customer service issues or queries - a highly effective way for a rep to understand more about the customer's thinking.
Social CRM, the current incarnation of CRM adds even more value when done well because it increases the value of customer interactions with you by providing channels for customer input and outreach that traditional CRM didn't. It also increases the value you provide to the customer by supporting the aggregation of products, services, tools and consumable experiences that the customer is now demanding from you - keeping you differentiated from your competitors.
The popularity and adoption rate of Mobile based CRM software is on the rise with many small to medium sized business been able to benefit from CRM software without the initial high set up costs.
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