The Full form of CRM is Customer Relationship Management. CRM is a strategy used by the organizations to maintain and develop the relationship with the existing customers as well as future customers and retain them to drive the growth of the organization. It is implemented worldwide in all growing industries. CRMs are designed to compile the company’s information to contact with customers which includes company’s phone number, website, email, products, services, live chat, etc.
It also gives detailed information about customers like their personal details, purchasing history, phone number, comments, advice etc. CRM software collects all the documents and information related to the customers into a single CRM database. It is an effective and efficient way to manage an organization effortlessly. It provides an organized view of employees’ and customer’s relationship. The features of CRM include: Customers needs, Customers response, Customers satisfaction, Customers loyalty, Customers retention, Customers complaints and Customers service.
CRM allows simplifying the processes as per the requirements and expectations of the customers from beginning to end. It improves customer’s experience and their relationship with the company. It also provides data related to the sales pipelines and existing customers. So, an organization can focus its marketing efforts on key market segments instead of mass marketing.