What is CRM (Customer Relationship Management)?
Customer Relationship Management, or CRM, represents a business strategy as well as a technology solution to create and manage long-term relationships with customers. While technology solutions enable CRM, building customer relationships is a commitment by business owners to focus their attentions on the customer. Based on the belief that customer-driven culture is the key component of growing a business, CRM solutions enable a business to analyze and manage all aspects of critical customer interactions to improve customer satisfaction, and maximize customer loyalty.
"Consciously or unconsciously, everyone of us does render some service or another. If we cultivate the habit of doing this service deliberately, our desire for service will steadily grow stronger, and it will make not only for our own happiness, but that of the world at large." - Mohandas Gandhi
Value of CRM is measured by its ability to improve customer relationships The value of a Customer Relationship Management application is measured by its ability to streamline the business processes by creating a comprehensive system to manage and analyze customer data. CRM solutions can yield immediate productivity benefits by consolidating customer records. Companies relying on a mix of spreadsheets, contact managers, accounting tools and even paper records can realize productivity gains by adopting CRM tools.
CRM tools also provide business users with reporting and analysis tools, allowing easy creation of reports, forecasts and other key performance functions.
What is CRM?