A Customer Relationship Management (CRM) system helps manage customer data. It can support sales management, deliver actionable insights, integrate social media and facilitate team communication. Cloud-based CRM systems offer complete mobility and access to an ecosystem of bespoke apps .
A CRM system helps businesses keep customer contact details up to date, track every customer interaction, and manage customer accounts. It is designed to help businesses improve customer relationships and also Customer Lifetime Value (CLV). This is vital because of the vast amount of such data businesses generate daily.
A customer relationship management system aims to address challenges like these. It takes customer data and turns it into useful, actionable insight that can transform a business. It helps everyone in a business to easily update records and to get access to the latest information. If the system is cloud-based, they can do this wherever they are, on any connected device.
The key features of a CRM system typically include contact management functionality, dashboard-style presentation of information, and reports that analyse pipeline activity, along with communication tools such as integrated email and internal instant messaging:
Contact management
Lead management
Sales forecasting
Instant messaging between employees
Email tracking and integration with Outlook and Gmail
File and content sharing
Dashboard-based analytics