CRM system stands for Customer Relationship Management. CRM system is the strategy of companies in developing close relationships with customers through research, thoroughly understanding their needs and habits. Additionally, the CRM system establishes good relationships with customers, which is especially important to the success of each company. In other words, understanding about CRM system is extremely helpful and essential. So let’s learn about CRM system
The Basic Concept Of CRM System
As I mentioned above, CRM is the abbreviation of Customer Relationship Management. It is the solution to develop close relationships with customers through research, thoroughly understanding their needs and habits. There are many technological factors related to CRM system but it does not mean that CRM is a purely technological term. The best understanding of CRM is: It is the whole process of collecting, synthesizing and analyzing information about customers, sales, the effectiveness of marketing activities, and adaptability of the company for with market trends to improve business performance and bring the highest profit to the company.
The Purposes Of CRM
CRM originates from the idea of helping businesses use resources (manpower and technology) to understand customers’ attitudes, habits and value of individual customer segments. With the help of an effective CRM program, businesses can:
- Provide customers with better services
- Improve the efficiency of customer support centers
- Help sales staff make orders quickly
- Simplify the marketing and sales process
- Discover new customers
- Total revenue from customers
How Is The Implementation Of CRM?
Implementing a CRM program is not simply about buying the appropriate software and installing it on the system. In order for the CRM program to be effective, organizations need to first decide what types of information about customers need to pay attention and use this information for what purpose. For example, many financial institutions store customers ‘”life” information in order to market products to customers at appropriate intervals, close to customers’ needs.
Next, organizations need to consider the different ways in which customer information is recorded, how and where data about customers is stored as well as how these data are currently being used. A company can interact with customers in a variety of different ways, such as via mail, Website, real store, customer support center, mobile sales force or marketing campaigns and advertisement. A strong CRM system must be able to link these “customer interfaces” together. Data streams collected through functional systems (such as sales and warehouse management systems) will be analyzed to find the most common patterns for each individual customer group. The company’s analysts will look closely at the data collected and provide an overview of customer groups or service areas that need to improve service quality.