Customer Relationship Management (CRM) – Using Data to Understand Customers and Boost Sales

Vrijeme čitanja:1 min, 24 sec

Equal parts strategy and technology CRM is about using data to understand customers and improve sales. Its success is dependent on the business creating a clear plan around which to utilize the CRM tools and then implementation of that plan across the entire company.

CRM is a tool that allows companies to store information about their prospects and customers, keep track of interactions, automate campaigns, and create reports. CRM also lets you to communicate with prospects and customers through a variety ways, whether that’s phone, email, text message or other social media platforms.

Although most people believe that CRM is a sales tool but the reality is that it can be utilized by any department in an organization. For instance the billing department can use CRM to track sales commissions and contracts, as well as review them and compare projections to actual revenues. Marketing departments can use it to identify trends to better target customers.

Each time a salesperson interacts with a client or meets a new lead, or follows up with an existing lead, they generate floods of data. The data was typically stored on paper media, like laptops and notebooks or in the heads of team members. CRM https://naukri-online-ads.com/business-advertising-boosts-sales-and-maintains-customer-relationship/ systems permit data to be collected and stored in a central location that can be instantly shared with all company representatives regardless of the method they choose to use.

The most advanced CRMs are integrated with AI and machine learning to analyze that data and provide actionable insights for each opportunity. The company can then enhance their customer experience and drive engagement to improve retention and loyalty.