Customer Relationship Management (CRM)

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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.

When people talk about CRM, they are usually referring to a CRM system, a tool that helps with contact management, sales management, agent productivity, and more. CRM tools can now be used to manage customer relationships across the entire customer lifecycle, spanning marketing, sales, digital commerce, and customer service interactions.

A CRM solution helps you focus on your organization’s relationships with individual people — including customers, service users, colleagues, or suppliers — throughout your lifecycle with them, including finding new customers, winning their business, and providing support and additional services throughout the relationship. Source: Salesforce

Typical features of a CRM include:

  • Synchronized Customer Data: One central location provides customer data collected across platforms so information about every customer interaction is available to anyone at the company who might need it.
  • Automation: Workflow automation to streamline data for customizable and segmented campaigns as well as synchronizing the customer journey for sales, marketing and customer success teams.
  • Customizable Dashboards and Reports: Analytics offers a data-driven approach that optimizes campaigns and lead journeys to better understand the sales pipeline to help segment customers, track revenue, and make forecasting simpler and more accurate.
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