Customer relationship management, or CRM, is a marketing system where databases are used to gather prospect and customer data. The data is turned into information used to improve the total customer experience, create more targeted marketing and improve revenue performance. Revenue is increased in several ways with effective CRM.
A simple way in which CRM boosts revenue is through higher sales conversation rates. When salespeople have greater access to details about prospects, they have a better ability to sell. CRM software normally allows you to manage profiles of customers, keep detailed notes on meetings and better assess mistakes or issues. Over time, this improves your ability to get more sales from opportunities.