What Is CRM?
CRM stands for customer relationship management. It’s a category of integrated, data-driven solutions that improve how you interact and do business with your customers. CRM systems and applications are designed to manage and maintain customer relationships, track engagements and sales, and deliver actionable data – all in one place.
The fundamentals of customer relationship management
CRM tools make the customer-facing functions of business easier. They help you:
Centralize customer information
Automate marketing interactions
Provide business intelligence
Track sales opportunities
Enable responsive customer service
What does a CRM solution do?
CRM solutions streamline processes and increase profitability in your sales, marketing, and service divisions. A strong CRM solution is a multifaceted platform where everything crucial to developing, improving, and retaining your customer relationships is stored. Without the support of an integrated CRM solution, you may miss growth opportunities and lose revenue because you’re not maximizing your business relationships.
Imagine misplacing customer contact information, only to learn that your delay pushed your client into the arms of a competitor. Or, picture your top two salespeople pursuing the same prospect, resulting in an annoyed potential customer and some unfriendly, in-house competition. Without a centralized program where your people can log and track customer interactions, your business falls behind schedule and out of touch.