Customer Relationship

Management (CRM)

Customer Relationship Management

(CRM) is a business strategy that
focuses on building and maintaining
strong relationships with customers
and stakeholders.
Introduction of CRM
1 Definition 📚 2 Benefits 🌟 3 Components 💼

CRM is a strategy that CRM improves CRM consists of

helps businesses manage customer satisfaction, software, processes,
interactions and increases sales, and and tools that enable
relationships with enhances overall effective customer
customers and leads. business performance. management.
Fundamentals of CRM
Customer-Centric Focus Data Management Communication Channels

CRM puts the customer at Effective collection, CRM uses various

the center of all business organization, and channels like email,
activities, driving customer analysis of customer phone, and social
satisfaction and loyalty. data is crucial for media to engage with

successful CRM customers and provide

implementation. personalized
experiences.
Concept of Relationship Management
Building Trust

Developing trust through honesty, transparency, and consistent

service fosters stronger customer relationships.
Effective Communication
Open and timely communication allows for better understanding and addressing
of customer needs and concerns.
Individualization

Tailoring products, services, and experiences to meet the unique needs of each
customer creates long-term loyalty.
Context of Relationship Management

Business Relationships Customer Service Sales Management

CRM helps businesses CRM enables CRM aids sales teams in
build and maintain effective customer managing leads,
strong relationships service by improving conversion
with partners, empowering teams to rates, and optimizing
suppliers, and other provide personalized sales processes.
stakeholders. support and resolve
issues promptly.
Internal and External Relationship Management
External Relationships
Nurturing relationships with
partners, suppliers, and
stakeholders leads to strategic
partnerships and mutual business
growth.
Internal Relationships
1
Building strong relationships
among teams and departments
fosters collaboration, efficiency,
2 and a united approach to
customer management.
Collaboration
3 Effective collaboration internally
and externally ensures all parties
are aligned towards common goals
and customer success.
Need of Relation with Customer and Other Stakeholders
Customer Satisfaction Competitive Advantage Business Growth

Strong relationships Building stronger Developing close

relationships with
enhance satisfaction, relationships sets customers and
leading to increased loyalty businesses apart from stakeholders drives
business growth and
and positive word-of- competitors, attracting long-term success.
mouth. and retaining customers.
Importance of Relation with Customer and Other Stakeholders

Brand Loyalty 🌟 2
Customer Insights 🧠 3 Business
1
Opportunities 💼

Strong relationships Building relationships Nurturing relationships

foster loyalty, resulting in allows businesses to opens doors to new
repeat purchases and gain valuable insights partnerships,
advocacy for the brand. into customer collaborations, and
preferences and needs. business opportunities.