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“Customer Relationship Management,” or what most people call “CRM,” is a central system to manage customer relationship data. This information is searchable and accessible across the organization. CRM helps you know your customers - their needs, their history with your brand. So you can engage customers. These insights help marketers create relevant messaging and choose the right touchpoints. For example, CRM can track social media posts or email click through rates to help you understand which touchpoints and messages are most relevant.
A CRM database includes the following information:
a) Company & Contact Management
b) Lead & Activity Management
c) Opportunity Management
d) Charting & Reporting
e) Email Marketing & Mailing Lists Management
f) Sales Forecasting
g) Microsoft Outlook E-mail Integration
h) Notes & Business Intelligence Management
CRM data helps customer-facing employees, like customer service representatives, effectively solve problems. They can quickly pull up a customer's information, like purchase history or product preferences, real-time while on the phone or chatting online with the customer. CRM helps salespeople by providing lead generation insights about interactions the customers had with other teams within the organization.
Moreover, CRM provides insights to create emotional connections with customers. As I always say, people buy emotionally and justify rationally. In fact, people who are emotionally connected to a brand are two times more likely to purchase that brand's product or service.
