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Reference:聽 Total Views: 29Word Count: 460See All articles From Author Customer relationship management (CRM) can be described as the art or science of using information to find, acquire and retain customers. It covers a wide range of people Cheap Radja Nainggolan Jersey , processes, and technology questions associated with marketing, sales Cheap Patrik Schick Jersey , and service. CRM actively deepens the knowledge you have of your customers to meet individual customer needs. It provides a holistic approach that unifies all points of customer interaction.
At the core of any customer-centric business strategy and culture, CRM is supported, not driven Cheap Maxime Gonalons Jersey , by technology. Nonetheless, it does involve redesigning some of your functional activities around your customer.
Customer relationship management is not just about buying CRM software technology. However, some technology is required to enable a CRM strategy. Its value and long term benefits are not possible without remembering that the driving force is often human relationships. CRM is repetitive in nature Cheap Marco Tumminello Jersey , to be improved on a regular basis - it is not a destination, but a journey.
CRM will transform strategy, business functions and operational processes. Its goal is to retain customers and increase customer loyalty and profitability. In difficult economic environments relationships with customers is your most precious asset and is the foundation to weather economic downturns.
The companies that can weather economic storms have some basic attributes that make them customer -centric. These recession proof attributes include being agile Cheap Lukasz Skorupski Jersey , adaptive, responsive, diversified Cheap Luca Pellegrini Jersey , customer focused and orientated, having a high tolerance for change and having minimal staffing footprint and overheads. Most importantly however these businesses have stable customer foundations and strong cash flow that must be protected at all costs.
The question is how can CRM solutions help with these attributes?
Recession Proofing
Selling your products and services becomes more difficult during a recession as your clients and prospects tighten their belts. CRM addresses your ability to address your own cost base by:
聲 Reducing the cost of acquiring new customers 聲 Maximising the profitability of existing customers 聲 Reducing the cost to service customers 聲 Minimising the cost of sales and marketing 聲 Optimising your internal productivity rates
Customer Loyalty & Efficiency
Keeping your customers when all your competitors are knocking at their door is fundamental to a stable and sustainable operation. CRM gives you an integrated knowledge about your customers, their issues and requirements from sales and marketing Cheap Lorenzo Pellegrini Jersey , customer service and your accounting department. Used wisely, CRM will help you:
聲 Optimise customer loyalty and lock-in 聲 Minimise customer churn 聲 Ensure the quality of your service is of the highest standard and meets client expectations