Customer relationship management (CRM) is a technology for managing all your company’s relationships and interactions with customers and potential customers. The goal is simple: Improve business relationships to grow your business. A CRM system helps companies stay connected to customers, streamline processes, and improve profitability.
WHAT DOES CRM SOFTWARE STAND FOR?
In most cases, when people talk about CRM, they’re referring to a CRM system — a tool aimed at helping companies with sales, marketing and service management. CRM software allows businesses to focus on their company’s relationships with customers, colleagues, suppliers, etc. With a professional CRM in place, it becomes much easier to find new customers, win their trust, provide qualified support, and provide additional services throughout the relationship.
The best part about a CRM system is that almost any organizational unit can benefit from it — from sales and customer service to recruiting, marketing, and business development. Good CRM software gives a better way to manage external relationships.
Storing all customer information in one place, recording service issues, identifying sales opportunities, managing marketing campaigns — these are just a few capabilities that CRM features.
Since CRM provides easy access to data, it also becomes much easier for users to collaborate on different processes and increase productivity. Another strong argument in favor of CRM is that it is suitable for businesses of any size.