Customer relationship management (CRM) is a set of practices and strategies companies employ to manage their customer relations throughout the sales cycle. It includes the use of technology, tools, and processes to gather and analyze data about customers and prospects.
The aim is to improve customer service and increase revenue. A CRM system can provide sales reps with detailed information on potential customers, their purchasing history and can give support teams all the information they require to resolve issues quickly. The best CRM systems come with marketing capabilities built in which allow companies to send specific messages to potential customers and customers based on the interactions they’ve had with the company.
It is crucial to know the differences between the various CRM software available. Some of the most well-known systems are integrated into ERP software (ERP) while others are standalone solutions. For the most effective results, choose an application that works seamlessly with your existing martech stack and is able to perform a variety of tasks.
When a business adopts a CRM system, they can create a positive image of their brand that will improve customer loyalty and boost sales. It is important to establish relationships with loyal customers because they are more likely than not to recommend your product or services to their friends and colleagues. Customer advocacy programs are the perfect way to reward customers for their loyalty.