CRM stands for Customer Relationship Management. It refers to the technologies that companies use to manage the customer interaction. Focusing on improving business relationship with a customer, CRM handles all the information of a client.
CRM software –
It handles client’s information and document into a single CRM database. The main function of this software is to record customer interaction on workflow. It handles the workflow process like calendars and alerts etc. It gives the ability to analyze performance within the system.
What is the common feature of CRM?
• Contact center automation-
It is used to discover various aspects of a contact center agents. It’s automation assist in resolving customer issues. This software is used to simplify the customer service processes.
• Marketing automation –
This automation had the capability to automate the task which is repetitive. It is used for sales and business.
What are the benefits of CRM?
1) It maximizes up & cross selling –
This system gives a customer a benefit of up-selling. It is a process of giving the client quality products. It allows cross-selling with the process of offering products to the customer. It is performed on the basis of their previous sale. It focuses on maintaining the relationship between the customer and business. It is all about interacting with customer and getting an overview of what they want and need to buy.
2) It increases customer revenues-
It is used to increase the revenue of a company in great extent. CRM helps to improve the customer revenues. It is a product that ensures that the product promotion reached to a different set of customer.
3) It provides better internal communication –
These CRM tactics help us build a better communication. It shares customer data between various departments. It will help to increase the company’s profit and it also enables to provide better service to a customer.
4) It enhances customer relation-
CRM provides better satisfaction to the customer. It helps in increasing customer loyalty and decreasing customer anxiety. It deals with the process of servicing and selling of products to the customers. It also provides a better understanding of the customer by understanding their issues.
5) It optimizes the marketing business-
CRM helps to understand the customer needs. It helps to analyze the correct time for marketing the product to a customer. It will also give an idea about the most profitable customer group. It helps to analyze the correct customer group which will give profit to the business.
6) It helps the sales team in closing deal faster-
It facilitates to gain the most rapid and efficient customer information. An organization which had implemented CRM had found a drastic change in its business. It enhances the customer interaction with business people. This helps to fix the deal earlier.
7) It simplifies the sales process-
CRM provides the good and effective communication channel. Expanding of technologies like website and voice response helps in in-building customer relations. This software provides a rapid response to all the inquiries of customers.
Here was a short description of the different features of CRM.