Customer Relationship Management ( Crm )

1301 Words6 Pages
Customer Relationship Management (CRM) describes the practices, strategies and technologies many businesses use to manage and critique customer services through customer behavior. A CRM system helps a business relate more to a customer and implementing a functional system will not only increase profits, but our relationship with our customers will grow stronger. CRM systems are designed to store information on customers across a vast majority of channels or points of contact between the customer and the business. In order for Tru Lit to utilize a CRM system, there should be an interactive website, telephone number, online chat, e-mail, and multiple social media platforms that our customers can easily access in order for us to gain their loyalty to our products. CRM systems are able to locate valuable customers through the RFM formula, which allows our company to track recently purchased items from a customer, the frequency of purchases made by a customer, and the monetary value of a customer’s purchase. Also, CRM systems give Tru Lit the ability to present detailed information on customer’s tastes and preferences concerning our products, which will give us the ability to keep innovation alive in our company. Implementing a CRM system is crucial to the global expansion of the company because having a well-rounded sense of understanding about our customers in China will act as a huge factor for our performance in the Chinese market. Each CRM system on the market varies in
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