Defining CRM – understanding the concept of Customer Relationship Management
PCMag in the UK provide a beautiful definition of Customer Relationship Management in their 2015 Business Choice Awards edition. Sometimes, when we are considering the complexities of CRM in our own business, returning to the definition can help reset the focus within your own business. The key message is included below:
Customer interaction is a key component of most businesses. The success or failure of a business rides on the quality and quantity of customer interactions. This process is too important not to be tracked and managed thoroughly. For this reason, many businesses rely on customer relationship management (CRM) to organize and manage all aspects of customer interactions.
A customer database that holds all customer, product, and service-related information forms the core of any CRM solution. Every customer touch is logged in order to improve customer communication and provide better service. Reporting and recommendations are strong points of CRM, and provide the ability to do things like notify customers of new products, match customer needs with existing product plans and offerings, remind customers of service requirements, and follow up on sales and service to assure customer satisfaction. In addition, the ability to customize CRM solutions means that you can initiate, track, manage, and report the outcome of any and all ways your sales and customer service personnel interact with customers, making sure that all of your employees are on the same page and working to keep customers happy.
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