Customer relationship management (CRM) is an enterprise strategy that is geared towards improving customer satisfaction and small business advertising loyalty by creating experiences that are unique to every individual. This is accomplished through the use of processes, technology, and teamwork across departments.
In the past maintaining these relationships was manual and laborious processes. Businesses kept customer information in filing cabinets and rolodexes or in spreadsheets that were typically not shared with other departments–leading to lost sales opportunities and confusion. With the introduction of new technology platforms for marketing that offer an integrated database of customer information, maintaining relationships is much easier and efficient. These are known as CRM systems.
CRM tools help to streamline and centralize customer information which makes it easier for teams to collaborate to maintain leads and improve the overall sales and marketing funnel. CRMs track lead and client interactions and help businesses to identify and prioritize the top leads. This lets salespeople only contact qualified prospects. This can result in higher conversion rates, buy value and speed of closing. it takes to close a sale.
Personalization is also among the most essential elements of a well-run CRM system because it lets customers know that their business is valued. Sending a personal note of appreciation after the sale or tailoring an item or service to satisfy a specific need creates a connection that encourages returning customers and brand recognition.