CRM, or Customer Relationship Management, is a holistic approach to managing customer information through software solutions. Customer relationship management software is intended to cut costs and increase profits by enhancing the customer experience. CRM can combine data from all sources within an organization (and from outside data sources) to paint a picture of the customer relationship.
CRM is especially important to front-line sales, customer support and marketing positions. CRM helps make the process of managing your client and prospect interactions easier and more streamlined.
CRM also provides valuable tracking data that can help your teams better serve your customers and anticipate their needs. Many prospects and leads get lost in the sales funnel without proper documentation and reminders. CRM provides a place to input and nurture prospects through the sales process. It is also handy for staying on top of current customers needs.
CRM software is available in online (web-based) formats and in-house download format. For companies with tight security concerns an in-house CRM solution may be best. For companies who are mobile and have multiple locations, a web-based CRM software solution may be ideal.
Want to learn more about CRM? Check out our 5 Tips Help You Avoid CRM Buying Mistakes.