What is customer relationship management - CRM

1,077 Views Updated: 20 Nov 2017
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Customer Relationship Management (CRM) is a valuable device that makes it possible for companies to keep in touch with and serve the needs of their customers. The motive of SuiteCRM Customization Solution Providers is to interact with buyers and create healthy relationships with them, facilitating a lasting conversation that beef up your understanding of the consumer base and broadens their loyalty to your corporation services. CRM software can monitor and measure advertising campaigns and help in specified client evaluation. They are also increasing beyond the sales and marketing areas to include aid and finance knowledge that offers customers a complete view of individual customers and the wider client base.

CRM or Customer Relationship Management first came into existence in the 1990s. The literal and original meaning of the expression “Customer Relationship Management” was “managing the relationship with your customer”.
 Nowadays, it is used to describe IT systems and software which are specifically designed to help you in managing this relationship. The term CRM has been adopted by IT system vendors to fit their particular product. It also refers to customer Helpdesks systems and such automating technology.
As per Wikipedia, the generally accepted purpose of Customer Relationship Management (CRM) is to enable organizations to better serve their customers through the introduction of reliable processes and procedures for interacting with those customers”.
Customer relationship management (CRM) refers to the principles, practices and guidelines that an organization follows when interacting with its customers. Talking from the organization's point of view, this entire relationship comprehends direct interactions with customers usually related to sales and service-related processes, forecasting and analysis of customer trends and behaviors.
In all, CRM serves to enhance the customer's overall experience. With the growth of the Internet and related technologies, customers are concerned about the privacy and safety of their personal information. Therefore, businesses need to ensure the storage and analysis of their customer data has the highest levels of protection against cyber criminals, and that thy are able to identity theft and other breaches of security.

Customer relationship management is all about those strategies and the methods that a company uses in order to make sure that they can maintain and improve their relationship with their customers and also make it a point to keep the relationship with their customers alive. Each company has plans and strategies that are in place in their company and these strategies remain unique to most companies. These strategies mainly depend on the kind of product or services that the particular company is offering. It is very essential to keep in mind the fact that all companies cannot use the same set of strategies and get valuable results. This is the reason each company has a team or a set of people who work on the research and the planning related to the maintenance of proper customer relationship.
What exactly these people do is they collect information and do a detailed research on the consumption behavior of their regular customers in order to know and plan what kind of communication they will be interested in. Especially for all those customers who have proved to be interested in their products and services. What they do is to make sure that they are able to figure out the interest area of the customer and make sure that the next time they approach them they talk or advertise those products or services that belong to their area of interest. This makes it possible for them to make use of the area of interest of the customer and not beat around the bush.
All the research related to the customer relations are generally compiled and put together after which they are provided to the customer relationship officers and those who are responsible for getting directly in touch with the customers and promoting the company among them.

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