Implementing customer relationship management (CRM) will enable a company to consolidate and integrate customer data. CRM is a software system that allows a company to collect, store, and manage all its customers’ data in one place1. This data can include personal information, contact details, purchase history, preferences, feedback, and more. By consolidating and integrating customer data, a company can gain a holistic view of each customer, understand their needs and behavior, personalize their communication and offers, and improve their satisfaction and loyalty23. The other options are not as accurate or comprehensive as the correct answer. While CRM can also provide a customer portal for ordering, offer a standardized sales approach to all customers, and give salespeople access to real-time order information, these are not the main or only benefits of CRM. They are more specific features or outcomes of CRM, but they do not capture the essence of what CRM does for a company. CRM is more than just a tool for ordering, selling, or tracking orders; it is a strategy for managing and enhancing customer relationships23.
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