What is CRM?

CRM stands for Customer Relationship Management. It is a strategy used to learn more about customers' needs and behaviors in order to develop stronger relationships with them. After all, good customer relationships are at the heart of business success. There are many technological components to CRM, but thinking about CRM in primarily technological terms is a mistake. The more useful way to think about CRM is as a process that will help bring together lots of pieces of information about customers, sales, marketing effectiveness, responsiveness and market trends.

What is the goal of CRM?

The idea of CRM is that it helps businesses use technology and human resources to gain insight into the behavior of customers and the value of those customers. If it works as hoped, a business can:

• Provide better customer service

• Make call centres more efficient

• Cross sell products more effectively

• Help sales staff close deals faster

• Simplify marketing and sales processes

• Discover new customers

• Increase customer revenues

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