What is the full form of CRM
CRM: Customer Relationship Management
CRM is a strategy to maintain the relationship with the existing customers as well as future customers and retain them to drive the growth of the organization. It is widely implemented in all growing industries.
CRMs are designed to compile the company's information to contact with customers which include company's website, email, phone number, products, services, live chat, etc. It also gives detailed information about customers like their personnel details, phone number, purchasing history, comments, advice etc.
CRM software collects all the information and documents related to the customers into a single CRM database. It is a way to manage an organization effectively and effortlessly. It provides an organized view of customer's and employee's relationship.
Features of CRM
Improved Customer Experience: It allows you simplify your processes from beginning to end as per the requirements and expectations of the customers. It improves customers? experience and their relationship with your company.
Focused Marketing Efforts: It provides you data related to your sales pipelines and existing customers. So, instead of mass marketing you can focus your marketing efforts on key market segments.
Improved Analytics Data and Reporting: It allows you track and analyze the buying habits of your customers. You can have automatic access to all reports related to items or products sold out and customers who bought them. Thus, you can analyze your customers and sale in a month, quarter, year etc.
Improved Coordination and Cooperation: It improves the coordination among sales, marketing and customer service departments as they share a common CRM platform and can work more cohesively or as a single unit.
Automation of Tasks: There are a number of smaller tasks associated with a process that must be completed in order to complete a task, e.g. form filling, generating receipt, sending reports to seniors while selling a product. The CRM can complete most of such tasks that allows sales representatives to focus their efforts towards convincing customers and closing deals faster.