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Customer Relationship Management

Customer Relationship Management plays a vital role in marketing and running a business. It is an organized approach of developing, maintaining, and managing a lucrative relationship with clients. The overall goal of customer relationship management is to find, attract and win new clients. Few years back, it was very hard to understand and manage the client data but now with the use of CRM software’s, they are getting the benefits of enhancing client loyalty through customer relationship management.

Elements of Customer Relationship Management:-

  • Analytics: It is the process of handling and representing data from multiple graphical formats like, tables, charts, figures, etc. in order to analyze the economy or market trends.
  • Business reporting: It includes exact information of customer care, sales, and marketing strategy.
  • Customer Service: It involves collecting and sending the customer related information to the concerned department.
  • Human Resource Management: It involves employing and placing the most eligible human resource as a required place in the business.
  • Marketing: It involves forming and implementing sales strategies by studying existing and potential customers in order to sell the product.

 

Objectives of Customer Relationship Management:-

  • Customer Relationship Management helps in customer’s satisfaction as the satisfied customer’s remain loyal to the business.
  • Customer Relationship Management not only manages the existing customer’s but also creates knowledge for prospective customers.
  • Customer Relationship Management system can create organized manners of working for sales and sales management staff of a business. The sales staff can view customers contact information follows up via email or social media.