Customer relationship management (CRM) also referred to as customer relationship management, is a set of techniques and methods that businesses use to manage their relationships with customers throughout the sales cycle. It involves the use of technology, tools and processes to collect information on prospective and current customers as well as customers.

The goal is to improve the customer experience and ultimately boost revenue for businesses. A CRM system can provide sales representatives with comprehensive information on potential customers as well as their purchase history, and it can give support teams the background and contacts they need to resolve issues swiftly. The most effective CRM systems include marketing capabilities built-in which allow companies to send specific messages to customers and prospects depending on their interactions with the company.

When choosing a CRM system, it’s important to understand the different types of CRM software that are available on the market and what they provides. A few of the most popular CRM systems are built into enterprise resource planning (ERP) software, while others are stand-alone options. To achieve the best results, look for one that seamlessly integrates with your existing martech stack and is able to manage a variety of jobs.

If a company implements a CRM system, they can create a positive image for their brand that will improve customer loyalty and boost sales. It is essential to establish relationships with customers who are loyal because they are more likely than not to recommend your products or services to their friends and colleagues. Customer advocacy programs to be open with your clients about your goals are the perfect way to give customers a reward for their loyalty.