Customer Relationship Management
CRM means managing customer relationships. This is a company-wide business strategy that aims to increase revenue and profitability, reduce costs, and increase customer loyalty. Simple CRM philosophy: Put the customer first.
When your business sees every transaction through a customer's eyes, you can count on a better customer experience, which in turn increases loyalty to your business. For example;
- 86% of customers are willing to pay more for a better customer experience
- Customer-oriented companies are 60% more profitable than non-business customers
- Every third customer leaves the brand he loves after a negative experience
CRM software integrates all information from various company departments to give each customer a complete overview in real time. In this way, people who focus on customers in areas such as sales, marketing and customer service can make quick and informed decisions, from selling and cross selling, to improving the quality of communication and customer involvement, to coordinating sales management and marketing campaigns. When implemented diligently, CRM provides organizations not only insight into the opportunities to grow business with each customer, but also a way of measuring their value.
CRM is more important for business than ever before, because it can help you get new customers and keep existing customers. And the CRM industry shows no signs of stagnation. The report shows that CRM software sales have exceeded sales of database management systems and have become the largest of all software markets! In today's highly competitive environment and with so many products and services to choose from, customers are picky and customer loyalty seems to be a thing of the past.
When a new product is launched, it only takes a few months for this product or service to suddenly become a commodity, which in turn means it's easy to switch companies. And even though you might think, not all clients are the same.
Some of them claim the customer service team, even though they spend very little. Other customers often do business, often buy new products and services and can even have a strong influence on their markets. In such cases, CRM helps prioritize sales and marketing activities when working with various customer groups. In addition, companies can better understand customer needs and increase product portfolios for them. The more you know about your customers, their purchase preferences and their behavior, the more likely your offer is targeted.
In today's highly competitive environment and with so many products and services to choose from, customers are picky and customer loyalty seems to have ended. When a new product is launched, it only takes a few months for this product or service to suddenly become a commodity, which in turn means it's easy to switch companies. And even though you might think, not all clients are the same.