Customer relationship management (CRM) is also referred to as CRM, is a method designed to improve customer satisfaction and loyalty through creating experiences unique to each individual. This is accomplished through the use of technology, processes and collaboration across departments.
In the past maintaining these relationships was a lengthy and manual process. Businesses stored customer contact information in rolodexes and filing cabinets, or in spreadsheets that were often not shared with other departments–leading to missed sales opportunities and the miscommunication of customers. Maintaining relationships has become much simpler and more efficient with the advent of new marketing technology platforms that provide a centralized database for customer data. These systems are known as CRM systems.
CRM tools help to streamline and centralize customer information which makes it easier for teams to work together to cultivate leads and improve the overall sales and top article marketing funnel. CRMs track lead and customer interactions and help businesses identify and prioritize the most valuable leads. This enables salespeople to only reach out to prospects who are qualified. This leads to greater conversion rates and higher purchase value, and could significantly reduce the time required to close a deal.
Personalization is another important element of a CRM strategy that shows customers they are valued by the company. From sending a personal thank you note after an order, to modifying an item or service to satisfy an individual need that creates a feeling of connection that encourages customers to return to purchase and brand loyalty.
