What is CRM?
CRM stands for Customer Relationship Management. It is a strategy used to learn more about customers' needs and behaviors in order to develop stronger relationships with them. Good customer relationships are at the heart of business success.
There are many technological components to CRM, but thinking about CRM in primarily technological terms is a mistake. The more useful way to think about CRM is as a strategic process that will help you better understand your customers’ needs and how you can meet those needs and enhance your bottom line at the same time. This strategy depends on bringing together lots of pieces of information about customers and market trends so you can sell and market your products and services more effectively.
CRM typically involves centralising all customer data and automating much of the tedious work in managing sales, marketing, and customer service so that professionals can spend more time helping their customers become more successful and less time on administrative tasks.
Since its inception, CRM has been proven to:
- Help organisations close more deals faster
- Do a better job in segmenting and reaching their target audiences
- Dramatically improve customer satisfaction and loyalty by delivering superior service
Recently, CRM has also come to include a new type of business intelligence software called analytics that provides managers with a real-time snapshot of their sales, marketing, and service efforts.
We have provided a complete definition of CRM below and all the associated subjects with this topic to help you scope your own CRM project:
- CRM (Customer Relationship Management)
- Sales force automation
- Database marketing
- Helpdesk software
- Contact Management
- Business intelligence
- Customer experience management
- KPI Dashboards
- Key Performance Indicators
- Data Warehouse
- Marketing
- Email marketing
If you would like to discuss how CRM can benefit your company, then please contact one of our CRM Solution Specialists, or email us at info@pythagoras.co.uk.