Customer Relationship Management
Customer relationship management refers to the combination of practices and technologies that businesses employ to manage and improve customer lifecycle. It includes all interactions a company has with their customers, from initial lead generation to aftersales services.
CRM systems are software applications that centralize customer data which includes contact information, purchase, and communication history. This data allows businesses to gain a structured understanding of their customers, personalised marketing efforts, and customer service interactions.
CRM functionalities include:
- Organize customer data
- Automate sales pipelines, track leads, and forecast sales.
- Personalize marketing campaigns and target specific customer segments.
- Improve response times and resolve customer issues efficiently.
- Understand customer behaviour and identify areas for improvement.