Customer relationship management (CRM) is a technology for improving all of your businesses relationships and interactions with your existing customers and prospective customers. The purspose is enhancing business relationships to grow your business. A CRM system helps companies stay connected to customers, streamline processes, and improve profitability.
When to implement a CRM in your business
When people talk about CRM, they are usually referring to a CRM system, a tool that helps with contact management, sales management, agent productivity, and more. CRM tools can now be used to manage customer relationships across the entire customer lifecycle, spanning marketing, sales, digital commerce, and customer service interactions.
A CRM solution helps you focus on your organization’s relationships with individual people — including customers, service users, colleagues, or suppliers — throughout your lifecycle with them, including finding new customers, winning their business, and providing support and additional services throughout the client relationship.