Customer relationship management (CRM) is also referred to as CRM, is a process which aims to increase the customer’s satisfaction and loyalty by creating unique experiences for every person. This is achieved through making use of processes, technology, and teamwork between departments.

In the past maintaining these relationships was manual effort and labor. Businesses stored customer contact information in filing cabinets and rolodexes or in spreadsheets that were typically not shared with other departments. This led to lost sales opportunities and ineffective communication. Maintaining relationships has become easier and efficient with the advent of modern marketing technology platforms that offer an integrated database of customer information. These are known as CRM systems.

CRM tools help to streamline and centralize customer information which makes it easier for teams to work together to manage leads and improve the overall sales and marketing funnel. In addition to analyzing lead and customer interactions, CRMs help companies find the most qualified leads by scoring them and prioritizing them, ensuring that sales representatives are only contacted with prospects who are qualified. This can result in higher conversion rates, higher purchase values, and decrease the time it takes to close a deal.

Personalization is an additional aspect of a CRM strategy that lets customers know their business is appreciated. From sending a personalized thank you note following an acquisition, to tailoring the product or service to satisfy certain needs that creates a feeling of connection that drives repeat purchases and brand advocacy.

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