Customer relationship management (CRM) is a business strategy geared toward improving customer satisfaction and loyalty through creating experiences that are unique to every individual. This is achieved through the use of technology, processes and teamwork between departments.
In the past maintaining these relationships was a lengthy and manual process. Businesses would store customer contact information on filing cabinets, rolodexes or spreadsheets. These weren’t shared with other departments and often led to lost sales opportunities and the inability to communicate. With the advent of modern marketing-technology platforms that provide an integrated database of customer information, maintaining relationships is much easier and more efficient. These are referred to as CRM systems.
CRM tools consolidate and streamline the customer’s data, making it easier for teams and individuals to work together and nurture leads, improving the overall funnel for sales and marketing. CRMs track lead and client interactions and help businesses determine and prioritize the most effective leads. This lets salespeople only contact qualified prospects. This results in more conversion rates and greater purchase http://naukri-online-ads.com/customer-relationship-management values, and can dramatically decrease the time required to close a deal.
Personalization is also one of the most crucial elements of a well-run CRM system since it demonstrates to customers that their business is truly valued. A personalized note of thanks after a sale or tailoring a service or product to meet a particular need helps to build a relationship that encourages the purchase of more products and encourages brand loyalty.