It's a category of integrated, data-driven software solutions that improve how you interact and do business with your customers. CRM systems help you manage and maintain customer relationships, track sales leads, marketing, and pipeline, and deliver actionable data.
Business Relationships With Customers
The better a business can manage the relationships it has with its customers the more successful it will become. Therefore IT systems that specifically address the problems of dealing with customers on a day-to-day basis are growing in popularity. Customer relationship management (CRM) is not just the application of technology, but is a strategy to learn more about customers’ needs and behaviours in order to develop stronger relationships with them. As such it is more of a business philosophy than a technical solution to assist in dealing with customers effectively and efficiently. Nevertheless, successful CRM relies on the use of technology.
In the commercial world the importance of retaining existing customers and expanding business is paramount. The costs associated with finding new customers mean that every existing customer could be important.
The more opportunities that a customer has to conduct business with your company the better, and one way of achieving this is by opening up channels such as direct sales, online sales, franchises, use of agents, etc. However, the more channels you have, the greater the need to manage your interaction with your customer base.
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