What Is CRM and How CRM Can Help In Business?

CRM stands for Customer Relationship Management. CRM is basically a business management software system designed for businesses to use for the tracking and development of customer relations. The system can also used to document, store, retrieve and evaluate all aspects of customer relations and sales. This includes contact management including the ability to identify leads as potential new clients or manage contact history and orders with existing customers. An efficient program takes under consideration all aspects involved in each part of customer relations to produce sound and profitable business decisions. Microsoft Dynamics CRM, Salesforce, SugarCRM are example of some of the market leaders.

Customer Relationship Management systems are often broken down into 3 main components that deal with different aspects of customer relations that are helpful to successful business practices.

These three components are known as operational, collaborative and analytical.

Each component addresses different needs among the business, all are associated with the customer relations, and each component has a different set of functions and purposes with customer relations management. Some software solutions address all of the areas of customer relations while other solutions are most specialized.

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