Customer Relationship Management (CRM) is the process of managing an organization’s interaction with it’s customers and prospects by using strategies, processes & technology to organize, automate and synchronize sales, customer service, marketing and tech support.
CRM solutions now give organizations critical data necessary to :
- Provide products and services that customers want
- Empower sales teams sell more effectively
- Improve customer retention
- Better understand their customers and
- Improve profitability
Even though CRM has been around only a few decades, the industry has come a long way in refining knowledge of customers needs/preferences and leveraging that data to drive sales, improve loyalty and overall customer experience in different business sectors.
Before the Cloud, PCs, Servers and Software which deliver powerful CRM solutions, the CRM had a humble beginning. The following is a detailed infographic on the History of CRM –
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