What is CRM - Customer Relationship Management?

Present day customer-centric business culture lays great emphasis on managing customers. Businesspersons are increasingly realizing that to maximize profits it is important to maximize customer satisfaction. By focusing on maximizing customer loyalty you can improve customer retention and also make them more useful to the company.

Customer Relationship Management (CRM) typically involves the entire business processes to support and manage business customers. By introducing reliable systems and processes, CRM focuses on creating and maintaining lasting customer relationships. A successful CRM strategy encompasses the following:

• Operational CRM : Automation of key business processes and functions – Sales, Marketing and Customer Service.
• Analytical CRM : Store customer data and analyze customer behavior in the suitable manner .
• Collaborative CRM : Interact across departments effectively to ensure timely delivery of customer services.