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Customer relationship management (CRM) is a collection of strategies and practices companies employ to manage their relationships with customers throughout the sales cycle. It requires the use of technology, tools and processes to gather data on prospective and current customers as well as customers.

The aim is to improve customer service and boost revenue. A CRM system provides sales representatives with complete information about prospective customers, their purchasing history and can give support teams with the information they require to solve issues quickly. The most effective CRM systems have marketing capabilities which allow companies to send targeted messages to potential buyers and customers based on the interactions they’ve had with the company.

It’s important to know the differences between the various CRM software available. A few of the most popular systems are integrated into enterprise resource planning software (ERP) while others are standalone solutions. Look for a solution which integrates seamlessly with existing martech stacks, and can manage multiple tasks.

When a business implements a CRM system, they will create a positive image their brand that can boost customer loyalty and increase sales. Customers who are loyal are more likely to promote and recommend your products and services to their friends and colleagues Therefore, it is essential to build connections with them. Customer advocacy programs are a great way to encourage customers to stay loyal.