What is CRM?

Customer Relationship Management (CRM) is a set of information-technology enabled strategies aimed at identifying, targeting, acquiring and retaining the best mix of customers.

The results of applying CRM Tools are increased sales and reduced costs. A Harvard Business Review article cited increases in sales of typically 35% and cost reductions of 25% - adding a hefty profit to the bottom line. Customer Loyalty becomes entrenched resulting in a reduced cost of sales.

CRM Goals

The overall goals are to harness the power of the tools to more effectively attract and win new customers, nurture and retain those the company already has, entice former customers back into the fold as well as to reduce the costs of marketing and customer service. Companies that employ technology to enhance their sales efforts produce superior, predictable and repeatable business results an worthwhile investment or any company.

CRM Growth

According to Forrester Research, spending on customer relationship management was expected to top $11 billion annually by 2010, as enterprises seek to grow top-line revenues, improve the customer experience, and boost the productivity of customer-facing staff.

CRM Overview

Once simply a label for a category of software tools, CRM has matured and broadened as a concept over the years. Today, customer relationship management generally denotes a company-wide business strategy embracing all customer-facing departments and even beyond. When an implementation is effective, people, processes, and technology work in synergy to develop and strengthen relationships, increase profitability, and reduce operational costs.

Benefits of CRM Tools

Customer relationship management tools have been shown to help companies attain these objectives:

  • Streamlined sales and marketing processes
  • Higher sales productivity - turnover increases of 30% and better
  • Added cross-selling and up-selling opportunities
  • Improved customer service, loyalty, and retention
  • Increased call centre efficiency
  • Higher close rates
  • Better customer profiling and targeting
  • Reduced expenses
  • Increased market share
  • Higher overall profitability
If you are interested in purchasing BluWave CRM Software to assist your customer relationship management, simply contact us or call on +27 11 462 6871 and we will gladly be of further assistance.

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