Customer relationship management (CRM) is a set of strategies and practices companies employ to manage relationships with customers throughout the sales cycle. It involves the use of technology, tools and processes that collect and analyze data about customers and prospects.
The goal is to improve customer service and increase revenue. A CRM system can provide sales representatives with comprehensive information on prospective customers and their buying history, and also give support teams the background information and contacts they need to resolve issues swiftly. The best CRM systems also have built-in marketing capabilities that enable companies to send specific messages to customers and prospects depending on their interactions with the company.
It’s important to know the distinctions between the different CRM software available. Some of the most popular systems are integrated into enterprise resource planning software (ERP) as well as others are standalone solutions. Choose a system that integrates seamlessly with existing martech stacks and is able to take on many tasks.
When a business adopts a CRM system, they will build a positive image of their brand that will increase customer loyalty and drive sales. It is crucial to build relationships with loyal customers because they are more likely to recommend your product or services to their friends and colleagues. A great way to do this is through programs for customer advocacy, which reward customers for their loyalty to the business.
