What is Customer Relationship Management

Question

Explain Customer Relationship Management and the benefits of the same

Answer 1

Customer relationship management (CRM) is a  strategy used extensively for managing an organization's interaction with its customers and prospects. CRM Technology involves using technology and social media to organize and manage business processes that deal with sales, marketing, customer service and technical support.

The goal of a CRM initiative is to identify, attract and retain customers with organization to achieve higher growth rates.  CRM also focusses on reducing the costs of marketing, client service, support and creates a loyalty feedback loop that is very much needed in the current social enabled world.