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Customer Support with CRM – What is CRM?

Customer Relationship Management (CRM) is the science of developing a customer-centric organization. With a CRM focus, a company utilizes every opportunity to delight customers, foster their loyalty and build long-term, mutually satisfying relationships. CRM software such as Goldmine enables this shift in a business, by providing tools to manage customer information and sales opportunities.

CRM is one of the most exciting and fastest growing concept in business today. Implementing CRM enables enterprises to improve customer service levels, enhance customer loyalty and retention, reduce margin erosion and increase profitability.

Why is Customer Relationship Management Important?

In the past many companies were not focused on improving their relationships with customers. But with the introduction of the internet and new CRM technology even tiny companies can compete in terms of price, quality and product features. The only remaining area where a significant competitive advantage can be achieved is through providing the best customer support, care and targeted marketing, in short CRM. For this reason Customer Relationship Management is the hottest field of business development in the US at present. The companies which implement it most effectively will win, and those who do not implement it, or do it badly will fail.

How CRM provides competitive advantage

When an enterprise has superior knowledge of it’s customers, and uses the knowledge to full effect, it gains a competitive advantage over the competitors. CRM software provides the tools to capture, manage and use vast quantities of information about individual customer needs. All departments, from sales to accounting, support and service can record customer activity and feedback into a single database. They can schedule actions and follow ups, categorize customer needs and sales opportunities. The knowledge base constantly grows and is updated, and enables the enterprise to target it’s efforts and message to obtain the highest return on the resources available. The result of this approach is that customer satisfaction and loyalty increases.

 

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