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CRM

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Selling has always been the vital force in carving the economic development of any company.
To be precise, the need of the hour is to have a 360-degree view of ones business. This is why the Customer Relationship Management has gained so much popularity among all businesses.

RKV IT Solutions Pvt Ltd is a leading CRM development company in India, Patna. CRM acronym for Customer Relationship Management, CRM is a term originally defined and designed to improve customer service. Today it almost relates to an entire business strategy. So while the term refers to a systematic approach to handling customer relationships, it transforms into providing the holistic approach to a business strategy.

Customer refers to an entity that acquires or consumes goods or services from the desired firm (through the process of purchasing or renting) for a mutually decided price and has the ability to choose between different products and suppliers. In this sense a customer is also known as client, buyer, purchaser or user of the products/services delivered or provided by a firm or organization also called the supplier, seller or the service provider.

Relationship in business refers to a state involving mutual dealings between people or parties. It involves interactions with customers or prospects to better understand their requirements and to build an expectation through different channels of communication. The more one interacts, the more chances of building a strong business relationship on the grounds of proper understanding of customers.

Management refers to managing of customer interactions. This does not merely mean customer support but in its true sense aims at mobilizing the entire organization towards management of all interactions with the customers, thus involving a customer-centric thinking and acting .

How CRM works?

Essentially CRM works by collecting leads or consumer information. Analyzing the collected information to understand customer or market requirements. Adjusting marketing campaigns accordingly to increase sales.
CRM also serves for customer service and support--making businesses efficient and improve customer satisfaction.

n any business, the bottom-line of CRM work flow is to

  1. Initiate Marketing
  2. Process Sales
  3. Schedule Orders
  4. Provide Support

CRM advantages:

  • 360 degree view of business
  • Organizational-level data sharing
  • Reduce cost on customer acquisition
  • Centralized customer interaction
  • Improved customer support
  • Increase customer satisfaction
  • High rate of customer retention
  • Boost new business
  • Increase revenue at low cost

How to evaluate CRM:

Realizing the investment towards any CRM initiative, it is crucial to all businesses to have a CRM evaluation method or CRM metrics in place. The prime concern of a CRM system is to improve relationship with customers and generate higher revenue.

Here are a few major points that can guide you in evaluating a CRM system at its face.

  • CRM ROI
  • Ease of use
  • Simplified workflow
  • Customization
  • Integration
  • Post-sales support
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