CRM is an acronym for customer relationship management and SFA is an acronym for sales force automation, a subset of CRM. Customer relationship management is a term used to define how businesses maintain and retain client relationships. CRM is a concerted effort by an organization to understand their client and integrate the information they have on the client to help build a lasting relationship. As the old saying goes 80% of your business comes from 20% of your clients. The problem has always been identifying the crucial 20%. Knowledge stemming from customer information gathered either from people, policies, processes or systems are used on daily basis while interacting with clients and potential clients.
CRM is a top down driven process that integrates all facets of the business: sales, marketing, customer service and support to bring a positive experience between the businesss and customers. However, CRM is specifically a strategic commitment to customer centricity. Customer centricity is not driven by technology, however, it is enabled by technology. This usually creates a cultural shift within the business itself to one of client intelligence. Customer centric approaches are exactly designed to facilitate as many of the clients needs as possible. The organization becomes the portal through which relationship transactions flow. The one to one strategy enables a more intimate relationship between the business and client, using CRM tools to capture and record historical events in the relation.
Sales force automation is the usual initial touch point to new and existing clients. From the time there is an introduction, there is a footprint created by that lead to follow. The jumping off point for CRM to be effective is to automate and streamline all your business processes so all customer needs are met.
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