Customer relationship management (CRM) is an enterprise strategy that is geared towards increasing customer satisfaction and loyalty by delivering experiences that are unique to each person. This is accomplished by a combination of technology, processes and teamwork across departments.
In the past maintaining these relationships required manual effort and labor. Businesses used to keep customer contact information in filing cabinets, rolodexes or spreadsheets. They were not shared with other departments, which often resulted in miss opportunities to sell and ineffective communication. With the introduction of new marketing-technology platforms that provide an integrated database of customer information, maintaining relationships is much easier and efficient. These are referred to as CRM systems.
CRM tools help to streamline and centralize customer data, making it easier for teams to collaborate to maintain leads and improve the overall funnel for sales and marketing. CRMs track lead and customer interactions and help businesses to identify and prioritize the top leads. This lets salespeople only contact i loved this prospects who are qualified. This can result in higher conversion rates and higher purchase values, and can dramatically reduce the time it takes to close the deal.
Personalization is also among the most important elements of a well-run CRM system since it lets customers know that their business is appreciated. From sending a personalized thank you note following a sale, to tailoring the product or service to meet an individual need it creates a feeling of connection that encourages sales and brand recognition.