CRM (Customer Relationship Management) as a Marketing Tool

Abstract

Customer Relationship Management (CRM) is to create a competitive advantage by being the best at understanding, communicating, delivering, and developing existing customer relationships, in addition to creating and keeping new customers. It has emerged as one of the largest management buzzword. The goal of CRM is to make all customers repeat business. If done well, CRM can also turn repeat customers into an army of marketers via word-of-mouth marketing. Companies are developing a mix of relationship-marketing tools to establish and build profitable customer relationships. The basic concept is that the customer is not someone outside the organization; he is a part of the organization. In the course of creating a marketing plan, some businesses can get lost in the tracking of numbers, forecasts, and conversions and lose sight of relationship building. CRM systems help you to not drop the vision of the relationship. It guides you to make your customer loyal to your organization. CRM assists by organizing prospects and clients, keeping track of marketing efforts and goals, and providing a snapshot to keep track with the business plan. By creating a marketing plan that suits a particular business process, you can use CRM to customize your data to give you the greatest edge in converting prospects to customers and then your customers to life-long clientele.