Glossary of terms
A CRM system is an infrastructure where a company can store data about customers and potential customers, track interactions with them, and share this information with colleagues. Implementing a CRM system allows companies to manage customer relationships, helping their business grow.
With a tool like a CRM system, every question, every service request, every preference, and every previous contact information about each customer is instantly available, which means that every new interaction with them should always be personalized, relevant, and up-to-date. In addition to keeping track of every phone call, email sent, meeting held, and presentation made, a CRM system can be used to add notes, schedule follow-ups, and organize the next steps to be taken. This ensures that opportunities to close deals or increase customer accounts are not missed. It collects customer data and transforms it into useful, actionable information that can transform a business. It helps everyone in the company easily update records and access the most up-to-date information. If the CRM system is cloud-based, they can do this from any connected device, regardless of their location.
A CRM system, when used properly, can help a company automate repetitive tasks such as order processing, inventory tracking, and customer support queries management. Also, some of the specific capabilities of a CRM system include:
Also, a CRM system is a tool that can accumulate and display data related to the actual products a company sells. This can include, for example, product weights and dimensions, production chronology and product version data, or anything that helps company management learn more about their products at a glance. A CRM often includes a prioritization system, which is a structured method or system that teams or individuals use to evaluate and prioritize tasks, projects, or goals based on predefined criteria. The benefits of CRM include increased revenue, long-term customer relationships, and reduced costs through increased sales, marketing, and customer service productivity.
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