What is CRM technology and how it can help businesses grow and increase sales
In this article, we’ll take a look at what CRM technology is and how it can help businesses grow and increase sales. We will also explore the benefits of using CRM software and offer some tips on how to make the most of it.
What is CRM technology?
Customer relationship management (CRM) technology is a process in which a business or other organization administers its interactions with customers, typically using digital and data analytics to study large amounts of information . CRM systems collect data from a range of different communication channels, including a company’s website, telephone, email, live chat, marketing materials, and most recently social media. They enable companies to learn more about their target audience and how to best meet their needs, thereby building customer loyalty and driving sales growth. CRM can be used with past, existing and present or potential customers.
CRM systems are mainly made up of 5 main parts:
1 – CRM Tool – the integration of the tool with the CRM software
2 – CRM database: stores customized documents and information on customers, potential customers and referrals
3 – Marketing Automation: used to send e-mails or sms to a list
4 – Sales Automation: Used to send email and direct mail to a list
5- Competitor analysis: CRM software collects consumer buying patterns and trends to help companies with strategic planning.
In the next articles we will go into the details of every single element that constitutes the CRM.
Does your company use a CRM?
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