May 31, 2019
Customer Relationship Management (CRM)
Customer Relationship Management refers to the creation, implementation, and evaluation of strategies in managing customer relationships. With a CRM, a business can deal with customer problems and complaints to increase customer satisfaction.
CRM is either a technology, a strategy, or a process, depending on how management views its purpose. Most often, companies integrate technology into a CRM process for a more efficient outcome. Creating a system to manage customer interactions can provide many benefits to a company.
CRM, which refers to technology, refers to the use of cloud storage, a computer system or application to monitor progress. CRM as strategy identifies the philosophy of the business regarding customer relationship, satisfaction, and interaction. CRM as a process may integrate the use of technology based on the company’s strategy or philosophy.
With the proper use of these three different CRM categories, the company can create a powerful tool to aid them in dealing with demanding customers. Most companies rely on a CRM to track customer engagement to their product or service.
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