CRM

CRM stands for Customer Relationship Model, it is a process where a company follows to track and organize their customers, to develop a strong relationship with them in turn company can increase their revenue. CRM tool supports these process.

Wiki defines

Customer relationship management (CRM) consists of the processes a company uses to track and organize its contacts with its current and prospective customers. CRM software is used to support these processes; the software system can be accessed, and information about customers and customer interactions can be entered, stored and accessed by employees in different company departments. Typical CRM goals are to improve services provided to customers, and to use customer contact information for targeted marketing.

Merits

• Provide better customer service
• Increase customer revenues
• Discover new customers
• Cross sell/Up Sell products more effectively
• Help sales staff close deals faster
• Make call centers more efficient
• Simplify marketing and sales processes

Some types of CRM

• Sales and purchase data
• Account information
• Web registration data
• Service and support records