What is the Full form of CRM?

The full form of CRM is Customer Relationship Management. CRM is a strategy to sustain and preserve the relationship with the current customers as well as future customers to support the organisation’s growth. It is applied widely in all growing industries.

CRMs was configured to compile the company’s customer contact information that includes company email, website, products, phone number, services, live chat, and so on. It also offers comprehensive customer data such as staff names, phone number, history of sales, feedback, suggestions and so on. CRM software gathers all the customer-specific information and records into a single CRM folder. It is an easy and effortless way of running an organisation and offers a structured view of the bond between customer and employee.

Characteristics of CRM

• The response of the customers
• Needs of the customers
• The loyalty of the customers
• Retention of the customers
• Service of the customers
• Complaints of the customers

Advantages of the CRM

• It helps you to automate your processes from start to finish according to customers interests and needs.
• It gives you data about your distribution pipelines and current customers. And you can concentrate your marketing efforts on specific consumer segments rather than mass marketing.
• It helps you to check and evaluate your customers ‘ buying patterns. You will provide direct access to all notifications related to sold-out items or products and the buyers who purchased them.
• It facilitates collaboration between departments of sales, marketing and customer care since they share a similar CRM platform and can function more cooperatively or as a single unit.
• There are a variety of small sections associated with a procedure that needs to be done to complete a job, e.g. filling out the form, obtaining a receipt, submitting reports to seniors when selling a product. The CRM can achieve most of these tasks, which helps sales representatives to concentrate their energies more quickly on satisfying customers and closing the deal.