CRM is a combination of strategy and technology. It uses data to boost sales and better understand customers. Its success is dependent on the business creating an outline of how to make use of the CRM tools and implementing that plan across the entire organization.
CRM is a computer program that lets businesses store data about prospects and customers, track interactions and automate marketing campaigns and generate reports. It allows businesses to communicate and connect with customers as well as prospects via a variety channels such as email, text message and other social media platforms.
Although most people believe that CRM is a sales tool but the truth is that it can be used by any department in an organization. For example the billing department could make use of CRM to track sales commissions, review http://naukri-online-ads.com/customer-relationship-management contracts and compare projections to actual revenues. The marketing department can utilize it to spot patterns and opportunities to better target potential customers.
Sales teams create a flood of information each time they meet with customers, meet a new prospect or follow up on leads. The data was previously stored on analogue media, like laptops and notebooks or in the heads of team members. CRM systems allow this information to be organizedly collected and stored in a single location that can be instantly shared with all the company’s employees, regardless of the channel they are interacting on.
The most advanced CRMs now integrate AI and machine learning, which can interpret data and provide actionable insight on every opportunity. The business can then improve their customer experience and boost engagement to increase loyalty and retention.