The trend of using CRM to build and maintain customer relationships is becoming increasingly popular in today’s business. The fact that thousands of customers simultaneously receive visiting letters, as well as attractive discount offers, is no longer strange. With CRM, you can easily answer the question: Can your company’s products better meet customer needs
- WHAT IS CRM?
CRM stands for the phrase Customer Relationship Management, meaning Customer Relationship Management, the term CRM appears from the early 1990s in American business consulting companies. The desire of experts to build CRM is to create a method that can detect potential objects, turn them into customers, and then maintain these customers long-term for the company.
Today, customer management software or CRM software has been created to help companies serve and categorize their customers better. CRM’s activities create an environment like “virtual office” that helps the management to be continuous, regardless of whether employees are working at the office or on business. The kernel of CRM is an integrated database system of customers collected by different parts of the company.
THE BENEFITS OF CRM
In business operations as well as in administrative management, every company has relationships with customers, with business partners that they must work, serve or collaborate with. These relationships always take place between two teams – on the one hand, are employees in the company and the other is the customers, business partners that are related to the company.
Therefore, the company needs to have a management system in order to create conditions for its employees to properly implement relationships with customers while helping to manage customers more effectively. And CRM was born since then at the same time serving both requirements.
CRM system can be designed with many components such as customer information management, customer interaction management, sales process management, marketing management, product and service management or statistical reporting. … By optimizing cycles and providing salespeople with complete customer-related information, CRM allows companies to establish more profitable relationships with customers while cut operating costs.
The effectiveness of the CRM system is also reflected in simplicity when customers can exchange information with the company in any way that customers like, at any time, through any communication channel. , in any language … Although customer requirements may have to go through complex internal channels to get to the right department in charge of the product or service, through the CRM system, customers will have the feeling of communicating with a single entity and receiving personal care.
The CRM application will save a lot of costs for companies. Typically, the cost to reach a new customer is 5 to 15 times higher than the cost of maintaining an existing customer. The cost of selling and serving the old customer is also much lower than that of a new customer. Loyal customers who buy products often pay less attention to price and are also easier to serve. Customers satisfied with the company will praise the company with many others, thereby helping the company to acquire new customers.