BACHELOR OF BUSINESS ADMINISTRATION

BUSINESS ADMINISTRATION

CUSTOMER RELATION MANAGEMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
What do companies implement CRM for?
A
Increase profitability
B
Reducing operational costs
C
Increase customer satisfaction and loyalty
D
All answers are correct
Explanation: 

Detailed explanation-1: -CRMs allow businesses to capture customer data in one place which is then used to develop strategies based on customers’ needs and wants. Some other benefits include increased sales, improved marketing efforts, and more satisfied employees who can better serve their clients with up-to-date information about them.

Detailed explanation-2: -By intelligently storing and managing your customers’ information, a CRM system increases the number of leads coming in, helping your marketing team find new customers faster. It supports your sales teams in closing more deals faster. It also enhances customer service.

Detailed explanation-3: -Customer relationship management (CRM) implementation is the process of centralizing all communications between a company and its customers. This involves a CRM software with features that match your needs. These can include storing customer conversations, tracking leads you want to follow up with, and more.

Detailed explanation-4: -Customer relationship management (CRM) implementation is the process of installing CRM software so an organization can manage current and potential customer relationships. Successful CRM implementation can help businesses analyze customer interactions, efficiently track leads and streamline processes.

Detailed explanation-5: -Although ideally it would be best not to start implementing a CRM system while simultaneously implementing other changes that might overburden your company’s teams and structures, you might not have the luxury of spacing things out given the current climate.

There is 1 question to complete.