The power of Social Selling: CRM, Social CRM & CXM Software explained.
What is CRM?
CRM is an abbreviation standing for Customer Relationship Management. CRM integrates sales and marketing, administrative, accounting, logistics and other key business operations to ensure the company’s relationships with its customers remain healthy throughout the business process.
Much of its value to sales was based on account information, opportunity management, and, one of the keys to distinguishing salesforce automation (SFA) from simple contact management. Implementing a CRM strategy gives management visibility into sales opportunities driven by sales strategies, processes and applications.
Key benefits of CRM:
- Better understanding of your customer
- Retain customers
- Attract new customers
- Win new contracts (B2B CRM)
- Increase profitability
What is Cloud CRM Software?
CRM is the management principle or business strategy, while CRM software is the tool used to consolidate customer data in the cloud. Implementing a CRM software solution, the board of directors, CEO or business owner can see on dashboards displayed the big picture of his business with the option to drill down to explore more details. Sales goals of CRM is to identify your high-value customers. They are the customers that give you more business, who often are the repeat buyers.
What is Social CRM?
Traditional CRM communication flows in a straight line. On the other hand, Social CRM communication works on multiple rings with the customer at the centre. Unlike in traditional CRM, the customer is involved or inside the CRM model. In short, Social CRM is collaborative more than informative and able to understand the business challenge you’re looking to solve and finding a solution.
What is CEM or CXM?
Customer experience management (CEM or sometimes CXM) involves many things and customer feedback, for instance and to truly understand the customer. CXM centres around qualitative metrics like customer satisfaction, retention, and loyalty. The CXM movement is being driven by the influx of Big Data and Business Intelligence software solutions. CXM software focuses more on the customer’s experience post-sale with your product or service.
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