CRM or customer relationship management is a system that assists companies in managing their business relationships along with the data and information that accompany it. Companies are able to gather and store contact information, leads, and sales in one primary location, typically in the cloud.
To put it simply, similar to social networking sites, a CRM system is built around and consists of people and their relationships with or to the company. For companies today, it is extremely important to have such data carefully stored and easily accessible to necessary parties.
Businesses often start with a set of customers with whom they build relationships over time. However, as your company grows, these relationships also grow and expand across various departments within the company. A CRM system serves as a central hub through which each connection can be seen and managed.
Sales, customer service, management, and marketing all have access to this information, creating the opportunity for multiple successful interactions. For the best CRM system there are 8 building blocks that must be included. Three of those are:
1 Vision
Define what a CRM should look like for your company. At the center should be overall customer value proposition which is supposed by corporate values and ensures the company serves stand out from competitors.
2 Strategy
The strategy should fit with the company’s overall business strategy. It should be informed by key department strategies including sales, marketing, and customer service. The aim of such a strategy will be to create and maintain a solid customer base.
3 Customer Experience
Measure the benefits that will be received by the organization equally as much as the benefits customers will receive. Find the balance between efficient service and understanding customer needs enough to meet them successfully.
