In today’s fast-paced, ever-evolving business landscape, remaining complacent is not an option. The more information you have on your audience in the form of customer data, the better equipped you’ll be to beat your competitors and offer better products and services. One of the most valuable types of enterprise data is the relationships and interactions that you have with your customers and prospective customers—a concept summarized as customer relationship management and associated with the snappy acronym “CRM.” So what is CRM exactly and what are the benefits of CRM for your business?
Customer relationship management is a catchall term for the various processes and systems that businesses use to manage their interactions and relationships with their customers and prospects.
Breaking down this term into its three constituent parts, you get:
The term “CRM” is also used as shorthand for software platforms and systems that help businesses perform customer relationship management. Examples of popular CRM software include Salesforce, HubSpot CRM, Pipedrive, Zoho CRM, Oracle CRM and Microsoft Dynamics CRM.
By automating and standardizing your customer interactions, CRM systems can offer a great number of benefits to your business. The best systems come with a wide range of features and functionality to support critical business activities such as:
These features and functionality can dramatically enhance your business processes and workflows. The potential improvements offered by CRM software include:
According to a study by McKinsey & Company, businesses that are “intensive users” of customer analytics are more likely to be successful in multiple domains. For example, these businesses are 23 times more likely to excel at acquiring new customers and 19 times more likely to be highly profitable.
Customer relationship management is one of the most essential functions of any organization, giving you a window into what your customers think about your business. While off the shelf solutions can get you going, many businesses soon find that a more customized CRM or integration with other essential systems is what they need to move their business forward.
Aezion is ready to help. We’re passionate about helping our clients solve their trickiest software development challenges. If you’re in the market for a new CRM solution or exploring how to improve your existing system, we can be with you every step of the way—from roadmaps and strategic planning to development, integration, deployment and ongoing support and maintenance.
Ready to start your CRM journey? Contact us today today to discuss your business goals and requirements.
This is article 4 of a 4-part series on Customer Data Management. You can view the related articles at the links below — or simply click to download our comprehensive Operational Guide to Customer Data Management and Integration White Paper:
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