What is customer relationship management?
Customer Relationship Management (CRM) refers to a strategy widely adopted by businesses and organizations (including related integrated information systems and technology, often in the form of software) for capturing all of their data and interactions with current, past, and potential customers and manage.
CRM ensures that all organizational functions of the customer interface (i.e. sales, marketing, technical support) are efficient and synchronized to ensure that past and prospective customers are served appropriately and appropriately.
The primary purpose of CRM is to manage every instance of the company's customer interaction. CRM manages, stores and disseminates customer information with many built-in tools that can be applied to raw data from a customer or a specific customer category. For example, data can be analyzed to separate customers based on demographics, occupation and age, etc.
CRM plays a vital role in the marketing and research departments of an organization. For example, if data suggests that the majority of customers are from Texas, a sales and marketing department can adjust strategies for that state. These and other data mining efforts can reveal trends that will help companies make better strategic decisions by using technology intelligently to meet customer needs and wants.