BUSINESS ADMINISTRATION
CUSTOMER RELATION MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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having unsatisfied customers
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purchasing irrelevant technology.
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spending any money.
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having to lay off employees.
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Detailed explanation-1: -Customer relationship management (CRM) is a technology for managing all your company’s relationships and interactions with customers and potential customers. The goal is simple: Improve business relationships to grow your business.
Detailed explanation-2: -CRM solutions can help keep track of contacts within a business, to allow both sales and marketing teams to personalize communication. Good CRM solutions can supplement their account and contact data through third-party data sources so that all information is complete and up to date.
Detailed explanation-3: -In essence, CRM helps a business to recognise the value of its customers and to capitalise on improved customer relations. The better you understand your customers, the more responsive you can be to their needs. CRM can be achieved by: finding out about your customers’ purchasing habits, opinions and preferences.
Detailed explanation-4: -The first thing to do before creating a CRM strategy is to revisit your overall business strategy and high-level business goals. Create a vision of what you want to achieve from the CRM strategy. That way it has a clear purpose from the very beginning.