The word CRM stands for coustomer relationship management .It may be stated as “Customer Relationship Management (CRM) encompasses activities and processes intended to help an organisation understand, communicate with, and service the needs of, customers and prospect.”
‘The principles, practices, and guidelines that an organization follows when interacting with its customers. From the organization’s point of view, this entire relationship not only encompasses the direct interaction aspect, such as sales and/or service related processes, but also in the forecasting and analysis of customer trends and behaviors, which ultimately serve to enhance the customer’s overall experienced.
One example of a common CRM strategy is the rewards card program offered by many supermarkets. The store gives its customers a free card that gives them access to special deals and discounts when they swipe the card during checkout. But that card also tracks everything the customer buys and allows the store to create an extremely detailed customer profile based on his or her purchasing habits. Armed with that information, the store can then offer its customers targeted coupons and other programs that will motivate its customers to buy more products from that store.
One of the prime benefits of using a CRM is obtaining better customer satisfaction.By using this strategy, all dealings involving servicing, marketing, and selling your products to your customers can be carried out in an organized and systematic way. You can also provide better services to customers through improved understanding of their issues and this in turn helps in increasing customer loyalty and decreasing customer agitation. In this way, you can also receive continuous feedback from your customers regarding your products and services. It is also possible that your customers recommend you to their acquaintances, when you provide efficient and satisfactory services.
CRM SOFTWARE: CRM software is a used to describe a category of enterprise software that covers a broad set of applications and software to help businesses manage customer data and customer interaction, access business information, automate sales, marketing and customer support .There are many CRM software available now a days like SALESFORCE,MICROSOFT DYNAMIC CRM,RIGHT NOW, SAP solution and ORACLE Siebel etc
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