Customer Relationship Management (CRM)
Customer relationship management (CRM) is a widely implemented model for managing a company’s interactions with customers, clients, and sales prospects. It involves using technology to organize, automate, and synchronize business processes—principally sales activities, but also those for marketing, customer service, and technical support.
A good CRM will help 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.
Measuring and valuing customer relationships is critical to implementing this strategy.
- Quality and efficiency
- Decrease in overall costs
- Decision support
- Enterprise ability
- Customer Attentions
- Increase profitability
- Improved planning
- Improved product development
- Requires training to use properly
- Requires the entire team to be consistant in their commitment to use it