CRM stands for "Customer Relationship Management" and refers to a software system that helps businesses manage and analyze customer interactions and data throughout the customer lifecycle. CRM systems compile data from a range of different communication channels, including a companys website, telephone, email, live chat, marketing materials, and social media. They allow businesses to learn more about their target audiences and how to best cater to their needs, thus retaining customers and driving sales growth. Some key features of CRM systems include:
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Contact management: CRM tools let businesses store customer and prospect contact information in one central location.
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Sales management: CRM systems can be used to identify sales opportunities and track sales leads.
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Marketing automation: CRM systems for eCommerce can automate marketing tasks like cart rescue, re-engaging users with email, and personalization.
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Workflow automation: CRM systems help businesses optimize processes by streamlining mundane workloads, enabling employees to focus on creative and more high-level tasks.
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Lead management: Sales leads can be tracked through CRM, enabling sales teams to input, track, and analyze data for leads in one place.
CRM systems can be used by businesses of all sizes, from small businesses to large enterprises, and by teams across different departments, including sales, customer service, business development, recruiting, and marketing.
