Customer relationship management (CRM), also known as CRM, is a technique https://naukri-online-ads.com/customer-relationship-management/ which aims to increase the customer’s satisfaction and loyalty by creating unique experiences for every individual. This is accomplished through a combination of processes, technology, and collaboration across departments.

In the past maintaining these relationships was manual and laborious processes. Companies kept customer contact information in rolodexes and filing cabinets, or in spreadsheets that were often not shared with other departments, which led to a loss of sales opportunities and the miscommunication of customers. With the advent of modern technology platforms for marketing that offer a central database for customer information, keeping records is much simpler and more efficient. These are referred to as CRM systems.

CRM tools streamline and centralize customer information, making it easier for teams to collaborate to cultivate leads and improve the overall sales and marketing funnel. CRMs track lead and customer interactions and help companies identify and prioritize the most valuable leads. This allows salespeople to only reach out to prospects who are qualified. This could result in higher conversion rates, purchasing values, and decrease the time it takes to close a sale.

Personalization is an additional aspect of a CRM strategy that shows customers their business is valued. A personalized note of appreciation following the sale or tailoring the product or service to satisfy a specific need creates a connection that encourages customers to return to purchase and brand loyalty.