CRM stands for customer relationship management. It’s a category of integrated, data-driven software solutions that improve how you interact and do business with your customers. CRM systems help you manage and maintain customer relationships, track sales leads, marketing, and pipeline, and deliver actionable data.
By consolidating all of their customer data – including contact details, cross-channel interactions, service history, and social media activity – companies gain a 360-degree view of each customer, available in real time.
Analysis of customer interactions and history allow companies to gain deeper insight into expectations and needs. These insights can be used to target offers, resolve service issues, boost satisfaction, create personalized experiences, and inform marketing strategies.
By automating processes such as lead and pipeline management, campaign development, and service tracking, companies can not only greatly improve efficiency but also provide a better experience for customers.
The impact CRM software can have on a business or organization is not specific to industry. Here are a few examples of industries that are better off because of CRM software.