Abstract:
To define CRM, you should first understand its history. CRM is an acronym that stands for
customer relationship management. Customer relationship management is any tool,
strategy, or process that helps businesses better organize and access customer data. It all
started with handwritten notes and Rolodexes, but with the advent and proliferation of
digital technology, it eventually evolved into databases stored on individual computers. It’s
a platform that connects your different departments, from marketing to sales to customer
service, and organizes their notes, activities, and metrics into one cohesive system. Every user
has easy, direct access to the real-time client data they need also makes it possible for businesses
to provide their customers with something extra ordinary: personalize, one-to-one customer
journeys. Customer relationship management (CRM) is a technological initiative that
focuses on building mutually beneficial customer relationships by employing technology
that allows marketing, sales, and service to share information and work as a team. CRM
systems can be either operational or analytical. Operational CRM systems gather customer
information across various channels, such as on-site encounters, phone, Web, and call
centres organizes it; and makes it available to front-line employees so they can better serve
customers. Analytical CRM systems analyse the data collected by the operational system to
help improve the overall customer satisfaction and profitability of customers individually
and collectively. In general, CRM systems are used to track encounters with consumers and
record communications with customers. This information can be used for purposes of
segmentation and targeting of products and customer communications. The information
gathered can also be used to help retain and develop customer. CRM software uses an
integrated approach to store customer information. An all-in-one CRM has sales, marketing
and service automation rolled into one. It automates interactions, provides business
intelligence, and empowers sales reps to make the sales process smoother. A CRM analyses
the data and opportunities of your sales force and helps them deliver a stellar customer
service. Making a business successful and keeping it running can be an arduous task. When
all happen simultaneously and you must handle chunks of data in form of campaigns,
meetings, appointments etc. you find a need to adopt a powerful app in place of many
individual apps. An all-in-one CRM unites all the functions on a single platform.
