Customer Relationship Management (CRM)
What is customer relationship management (CRM)?
Customer relationship management (CRM) is a type of software solution that helps users organize, optimize, and expand new or existing relationships with their customers. These systems can come with a variety of different services, but the primary functions of a CRM most often include:
- Contact management
- Lead management
- Data integration
- Customer reporting
CRM solutions are often equipped with a data integration capability—allowing users to import or upload all of the existing client information that they have into one centralized location. This ensures that critical information like phone numbers, emails, or other specifics are easily accessible within each customer profile.
Why is a customer relationship management system important?
One of the many benefits of a CRM is that it facilitates collaborative customer relationship management techniques throughout an organization. In a large company, for instance, it’s likely that many different people from across customer service, sales, and marketing will be working with the same client.
Customer relationship management systems provide one central location where members from across an organization can track communication with a given client or contact, update customer data, record notes on client interactions and pain points, schedule client follow-ups, and more.
By making this information so conveniently accessible, CRM solutions not only make it easier for organizations to improve client relationships, but also to open new opportunities for their business.