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CRM DefinitionCategory: Marketing
To define CRM, you should first understand its history. CRM stands for customer relationship management, not long ago, the CRMs of the 1980s and before came in the paper-based tools.
Pen and paper were the foundations of the first CRMs, so any tracking of customer information during this era was 100% hand-written.
By 1995, by the extreme technology evolvement, the term CRM was coined and installed on individual computers till it had been developed nowadays to be cloud-web based application.Customer Relationship Management(CRM) is a business process in which client relationships, customer loyalty, brand value and trust are built through marketing strategies and activities. CRM acts as a communication platform between marketing, sales and customer service departments developing accurate decision making and long-term relationships with established and new customers while helping streamline corporate performance. CRM's main goal is best customer satisfaction and experience spreading word of mouth increasing profit and value.
Based on zoho.com statistical results, CRM helps 300% improvement conversion rates, 41% revenue increase per sales person, 27% improvement in customer retention.
CRM is used in different industrial fields: Retail , business services, manufacturing, production, banking/ insurance/ finance, customer service , etc; by top management level, marketing managers ,retail store agents / call center agents / field sales agents..
To know more about CRM modules and features, check STS modules.