What is CRM?

Definition

CRM stands for Customer Relationship Management.

By definition, it is a system that is strategically set up for your business to help you build and maintain relationships with your customers. CRM enables you to gather every last detail of your customer interactions on a centralized platform and makes it easily accessible to any member of your team.

Customer relationship management (CRM) is a strategy for managing a company’s interaction with its customers to improve customer satisfaction, customer retention, and sales growth.

A CRM System aides a company in achieving these goals by streamlining communication across different mediums and providing insights about the customer to key decision makers in the organization.

Understanding CRM

Great relationships are the key to running a successful business. As your organization grows, it becomes essential to manage the influx of leads while still being able to provide a personal touch to your customers. Having a CRM will equip you and your team to effectively engage with your clients and pick up conversations right where you left them. 

Importance of Customer Relationships

From customers to colleagues, every single person expects transparency along each step of the buyer journey, and CRM is the perfect platform to deliver that experience. You can track, analyze, and take insightful actions to improve customer engagements.

Using a CRM also helps you save time on trivial tasks and boosts productivity by streamlining business processes. Also, it ensures that all your customer information is tightly secured.

A CRM System will be your best investment decision...

  • 300% increase in deal conversion
  • 50% increase in productivity
  • 40% decrease in labor costs
  • 27% increase in customer retention
  • ROI of $5 for every $1 spent

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