CRM
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CRM, or Customer Relationship Management, is a company-wide business strategy designed to increase customer satisfaction and loyalty at reduce costs. True CRM brings together information from multiple data sources within an organization (and where appropriate, from outside the organization) to give one, holistic view of each customer in real time. This allows customer facing employees in such areas as sales, customer support, and marketing to make quick yet informed decisions on everything from cross-selling and up-selling opportunities to target marketing strategies to competitive position tactics
Once thought of as a type of software, CRM has evolved into a customer –centric philosophy that must permeate an entire organization. Its a strategy used to learn more about customer needs and behaviors in order to develop stronger relationship. 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.
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