What is
Customer Relationship Management?

What exactly is customer relationship management? In short, customer relationship management (CRM) is about strategically managing all interactions with your business relationships.

Customer relations – Know your customers

It does not matter whether you are a B2B or a B2C company - at the end of the day, your most valuable asset is your customer. Being successful means satisfying your customers. Therefore it is particularly important to focus your attention on them.

So what does your customer want? Usually customers want high-quality products and services. But today customers also want a more personal approach when it comes to customer care. Salespeople should ideally be able to demonstrate that they know their customers and should be able to refer to all previous aspects of the business relationship.

But customer relationship management should not be broken down into managing single customer relationships. CRM is and should be seen as a company-wide strategy that helps you establish and nurture long-lasting, lucrative customer relationships.

The two parts of customer relationship management

CRM projects, to put it simply, consist of two parts. The larger of the two is the "rethinking" phase. A CRM strategy requires that changes are made to all areas of your business. And these changes do not just happen overnight. They occur through the implementation of various processes throughout your entire company. The smaller part is the technology or software that supports the implementation of your CRM strategy.

Customer relationship management software

Nowadays, computers and software process all the information that is gathered in the course of any kind of customer interaction. Modern customer relationship management systems sometimes rely on cloud technology, while others are part of an enterprise resource planning (ERP) system. The benefit of using software for customer relationship management is evident: consistent data, standardized processes, and instant access to all information from anywhere when using a cloud CRM solution.

All processes are designed to meet your customer requirements, demands, and expectations exactly. This means that with CRM software you are able to identify what your customer wants and needs – and provide exactly that. Both a salesperson visiting the customer and, for example, another employee in customer support can access, add, and update information about a certain customer.

Advantage of centrally stored data

A CRM software solution solves problems and streamlines processes because it stores all relevant data centrally, and ensures that all customer-relevant information is instantly accessible ‒ to all employees throughout your entire company. Each employee therefore exactly knows the preferences of each customer and can provide them with a professional, precisely tailored service at all times.

Summary

The following bullet points summarize our overview and list the benefits of CRM:

  • Customer relationship management helps you to satisfy your customers needs, and document all business relationship interactions.
  • Integrating a CRM system
  • Increases transparency and efficiency and creates a corporate memory which everyone can benefit from.
  • CRM streamlines workflow in sales, marketing, customer service, and any other part of your company.
  • CRM software automates and standardizes your daily work in customer relations.
  • CRM online solutions, for example, in the form of software-as-a-service (SAAS) solutions, allow you to access any vital information from anywhere.

CRM can add value in your company too >>