CRM

CRM is about understanding the nature of the exchange between customer and supplier and managing it appropriately. The exchange contains monetary considerations between supplier and customer – but also communication.

BIRTH OF CRM

CUSTOMER RELATIONSHIP MANAGEMENT came into existence in the late 1990’s

BENEFITS

1. Centralization

and

Sharing of Data

2.Better Customer Service

Customer Relationship Management (CRM) systems are capable of storing detailed information about each customer, such as their history of orders, correspondence, survey responses, and marketing emails.

3. Higher Customer Satisfaction

Customer Relationship Management (CRM) systems make customers feel more like they are part of a team than merely a sales statistic. This sense of partnership often makes for a happier customer who is more likely to do repeat business and refer a potential new customer.

4. Improved Marketing Efforts

5. More Profit