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  What is CRM?  
 
CRM stands for Customer Relationship Management. It is a strategy used to learn more about customer's needs and behaviors in order to develop stronger relationships with them. Good customer relationships are at the heart of business success. There are many technological components to CRM, but thinking about CRM in primarily technological terms is a mistake. The more useful way to think about CRM is as a strategic process that will help you better understand your customer's needs and how you can meet those needs and enhance your bottom line at the same time. This strategy depends on bringing together lots of pieces of information about customers and market trends so you can sell and market your products and services more effectively.
 
  What is the goal of CRM?  
 
The idea of CRM is that it helps businesses use technology and human resources to gain insight into the behavior of customers and the value of those customers. With an effective CRM strategy, a business can increase revenues by:
  • providing services and products that are exactly what your customers want
  • offering better customer service
  • cross selling products more effectively
  • helping sales staff close deals faster
  • retaining existing customers and discovering new ones
 
  Are there any indications of the need for a CRM project?  
 
You need CRM when it is clear you don't have an accurate view of who your customers are and what their needs or desires are or will be at any given stage in their lives. If you are losing customers to a competitor, that's a clear indication that you should improve your understanding of your customers.
 
  What causes CRM projects to fail?  
 
Many things. From the beginning, lack of a communication between everyone in the customer relationship chain can lead to an incomplete picture of the customer. Poor communication can lead to technology being implemented without proper support or buy-in from users. For example, if the sales force isn't completely sold on the system's benefits, they may not input the kind of demographic data that is essential to the program's success.
 
     
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