What does CRM mean?
CRM stands for ‘Customer Relationship Management’, a term that refers to a combination of business strategies, technology and processes that a company implements to acquire and retain customers, and efficiently manage every step of customer interactions and increase profitability.
Proper alignment of CRM strategy with the overall business objectives and customer needs is paramount. Companies should pursue their objectives with care for the customer and a desire to add value by boosting the efficiency of customer interactions. A properly developed CRM strategy results in better customer acquisition and retention.
CRM software is a powerful tool designed to strategically streamline all customer-facing processes in order to achieve customer loyalty. So, what is CRM system? First of all, it is a software that connects the dots between marketing, sales and service, and delivers end-to-end processes to efficiently manage every single step of customer interaction – from initial contact to repeat loyal sales.
For the past few years, the role of Business Process Management (BPM) in CRM has been extended dramatically. In order to remain competitive, companies should be flexible and adapt processes to keep pace with rapidly changing business environment. In the nearest future we will witness significant growth of CRM solutions that provide process automation features.
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What is CRM in marketing?
CRM tools help the marketing department work faster with the following features:
- Customer database segmentation
- Marketing campaign automation
- Lead generation and distribution
- Email marketing tools
- Event management
- Collaboration tools
- Knowledge management
- Integration capabilities
What is CRM in sales?
What does crm mean in sales? With CRM tools you can forecast sales, get a bird’s eye view of the sale process and gain efficiency in sales force management. Modern CRM systems should contain the following key features:
- Customer database management
- Social media integration
- Lead management
- Sales forecasting tools
- Opportunity management
- Field force automation
- Document management
- Mobile sales capabilities
- Complex data analytics
What is CRM in service?
CRM software for customer service management help improve service quality, increase customer satisfaction and finally achieve a better customer experience. The solution should provide:
- 360° view of customer database
- Omnichannel communication tools
- Business process management
- Contact center automation
- Case and incident management
- Service catalog management
- Service level management
- Knowledge management