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What Is Customer Relationship Management?

Customer relationship management (CRM) is an organizational strategy that focuses on increasing customer satisfaction and loyalty through creating experiences that are unique to each individual. This is accomplished by a combination of technology, processes and teamwork across departments.

In the past, maintaining these relationships was a time-consuming and manual process. Businesses used to keep the contact details of customers on filing http://naukri-online-ads.com/generated-post cabinets, rolodexes and spreadsheets. They weren’t shared with other departments and often led to the loss of sales opportunities and ineffective communication. Maintaining relationships has become easier and more effective with the advent of modern marketing technology platforms that provide central databases for customer data. These are known as CRM systems.

CRM tools consolidate and streamline the customer’s data, making it easier for individuals and teams to collaborate and nurture leads, improving the overall sales and marketing funnel. CRMs track lead and client interactions and help companies to identify and prioritize the top leads. This lets salespeople only contact prospects who are qualified. This leads to higher conversion rates and purchase values, and can significantly decrease the time required to close a deal.

Personalization is among the most crucial elements of a well-run CRM system in that it shows customers that their business is truly appreciated. From sending a customized thank-you note following an acquisition, to tailoring the product or service to meet the needs of a specific customer and creates a sense of connection that drives the purchase of more products and brands, as well as brand loyalty.

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