Customer relationship management (CRM) is the process by which a company or organization administers its relationships with customers, usually using information analysis to study broad masses of data on customer interaction. Customer relationship management helps in the identification of strengths and weaknesses concerning specific customer needs and provides tools for managing customer interactions more effectively. This enables companies to provide better services to their customers in more convenient ways. Moreover, customer relationship management also helps customers in having access to businesses whenever they need such services, without being inconvenienced in finding available branches.
Besides, customer relationship management helps small businesses achieve profitability. This is possible because the profits of businesses tend to grow at a much faster rate than revenue growth. By using customer relationship management, small businesses can build stronger ties with their customers and increase their profitability. This is possible because profits and expansion proceeds are contributed to the bottom-line of the company, as opposed to being wasted on marketing campaigns and other forms of advertising.
With customer relationship management software, sales teams no longer have to manually respond to every email that comes in. Automated email management allows sales representatives to set up email newsletters for each customer. These newsletters can contain product information, promotional offers or announcements, and other promotional content of value to the customer. This enables a sales representative to professionally cultivate the interest of prospective clients through email marketing... Read more