Customer relationship management (CRM) is a widely-implemented strategy for managing a company's interactions with customers, clients and sales prospects.The overall goals are to find, attract, and win new clients, nurture and retain those the company already has, entice former clients back into the fold, and reduce the costs of marketing and client service.
Types/Variations
- Sales force automation
- Marketing
- Customer service and support
- Appointment
- Analytics
- Integrated/Collaborative
- Small business
- Social media
- Custom CRM
Customer relationship management is a broadly recognized, widely-implemented strategy for managing and nurturing a company's interactions with clients and sales prospects or regarding providing better services to the client. It involves using technology to organize, automate, and synchronize business processes principally sales activities and resource management, but also those for marketing, customer service, and technical support. The overall goals are to find, attract, win new clients, nurture and retain those the company already has, entice former clients back into the fold, and reduce the costs of marketing and client service.
After adoption of CRM in organization, companies attain these objectives:
- Increased call center efficiency with support call
- Streamlined sales and marketing processes
- Higher close rates
- Streamlined inventory control and management
- Better profiling and targeting
- Higher sales or service productivity
- Reduced expenses on services with better planning and scheduling of resources
- Added cross-selling and up-selling opportunities
- AMC (Annual Maintenance Contract) and live support system management
- Improved service, loyalty, and retention
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