In our last post, we discussed an overview of customer relationship management and customer experience management. In this post, we will take a more detailed look at customer relationship management, available tools, and metrics associated with CRM. Customer relationship management is the totality of your organization’s attempt to understand your customer base. This includes managing all customer interactions, trends, and behaviors.
While customer relationship management is a concept, it is also a tool itself. The market offers a variety of software packages that centralize all customer interactions and trends for you. These include out of the box CRM software, cloud solutions, and artificial intelligence. Your company’s website, email campaigns, and social media play an important role in this process. That is because CRM tools still rely on human management of analysis and reports. CRM software helps compile data and information, but you and your employees still need to sift through to understand how your efforts are affecting sales and customer service.
Customer relationship management software, regardless of vendor, helps you understand things such as sales and campaign reporting like pipelines, lead sources, and revenue. Further reporting on customers like buying patterns and demographics can help you make better decisions or focus efforts. Some examples of CRM reporting include: