What is CRM (customer relationship management)?
CRM (customer relationship management) is an information industry term for
methodologies, software, and usually Internet capabilities that help an
enterprise manage customer relationships in an organized way.
For example, an enterprise might build a database about its customers that
described relationships in sufficient detail so that management,
salespeople, people providing service, and perhaps the customer directly
could access information, match customer needs with product plans and
offerings, remind customers of service requirements, know what other
products a customer had purchased, and so forth.
According to one industry view, CRM consists of:
• Helping an enterprise to enable its marketing departments to identify and
target their best customers, manage marketing campaigns and generate quality
leads for the sales team.
• Assisting the organization to improve telesales, account, and sales
management by optimizing information shared by multiple employees, and
streamlining existing processes (for example, taking orders using mobile
devices)
• Allowing the formation of individualized relationships with customers,
with the aim of improving customer satisfaction and maximizing profits;
identifying the most profitable customers and providing them the highest
level of service.
• Providing employees with the information and processes necessary to know
their customers, understand and identify customer needs and effectively
build relationships between the company, its customer base, and distribution
partners.
Many organizations turn to CRM software to help them manage their customer
relationships. CRM technology is offered on-premise, on-demand or through
Software as a Service (SaaS) CRM, depending on the vendor. Recently, mobile
CRM and the open source CRM software model have also become more popular.
By: Eric Williams
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