CRM class notes

CRM (Customer Relationship Management): CRM is the overall

process of managing and analyzing customer interactions and data
throughout the customer lifecycle, with the goal of improving business
relationships with customers, assisting in customer retention, and
driving sales growth. CRM systems: software that helps companies
manage and analyze customer data, such as contact information,
purchase history, and communication records. It can also include tools
for marketing, sales, and customer service. Data collection: The
process of gathering customer data from various sources, such as
website interactions, sales transactions, and customer feedback. Data
analysis: The process of reviewing and interpreting customer data to
gain insights into customer behavior and needs. Segmentation: The
process of dividing customers into groups based on shared
characteristics, such as demographics, purchase history, and
behavior. Personalization: The process of tailoring marketing and
sales efforts to individual customers based on their characteristics and
behavior. Automation: The use of technology to automate repetitive
tasks, such as sending follow-up emails or triggering targeted
marketing campaigns. Omnichannel: The strategy of using multiple
channels, such as email, social media, and in-person interactions, to
engage with customers. Customer service: The process of addressing
and resolving customer complaints and issues. It can be done through
phone, email, or in-person interactions. CRM is a holistic approach
that aims to improve the overall customer experience by
understanding their needs and preferences, providing personalized
interactions and building long-term relationships. This can lead to
increased customer satisfaction, loyalty, and ultimately sales.