Customer relationship management (CRM) is a technology for managing all your company’s relationships and interactions with customers and potential customers.
The goal is simple: Improve business relationships to grow your business. A CRM system helps companies stay connected to customers, streamline processes, and improve profitability.
When people talk about CRM, they usually refer to a CRM system, a tool that helps with contact management, sales management, agent productivity, and more. CRM system tools can now manage customer relationships across the entire customer lifecycle, spanning marketing, sales, digital commerce, and customer service interactions.
A CRM system helps you focus on your organization’s relationships with individual people including customers, service users, colleagues, or suppliers throughout your lifecycle with them, including finding new customers, winning their business, and providing support and additional services throughout the entire relationship.
A CRM system gives everyone, from sales, customer service, business development, recruiting, marketing, or any other line of business, a better way to manage the entire relationship process that drives success. A CRM system lets you store customer and prospect contact information, identify sales opportunities, record service issues, and manage marketing campaigns, all in one place.
A CRM system can give you a clear overview of your customers. You can see everything in one place, a simple, customizable dashboard that can tell you a customer’s previous history with you, the status of their orders, any outstanding customer service issues, and more. Marketers can use a CRM system to manage and optimize campaigns and lead journeys with a data-driven approach, and better understand the pipeline of sales or prospects coming in, making forecasting for your company simpler and more accurate. You’ll have clear visibility of every opportunity or lead, showing you a clear path from inquiries to sales. Some of the biggest gains in productivity can come from moving beyond CRM as just a sales and marketing tool and embedding it in your business, from finance to customer services and supply chain management. This helps to ensure that customer needs are at the forefront of business processes and innovation cycles.
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