What is CRM? The Only Definition That Matters to Your Customers
The acronym CRM stands for Customer Relationship Management. Many associate CRM with the supporting software systems. However, at the most fundamental level CRM is a business strategy that seeks to develop and maintain on going business relationships with your customers. An account management team plays a large role in an organization's CRM strategy. Choosing whether to meet with a customer on site, to go out to lunch, and setting expectations with a customer of when a product will be delivered are all elements of CRM.
The software system (such as Salesforce.com) that ties this strategy together is more commonly referred as a CRM. The system is usually a cloud based database where a company can have all interactions with customers, the different products they've bought, information with any issues, etc. While a CRM system is a prerequisite for success, it does not guarantee success. Training on the "human side" of CRM is often neglected. Users are trained on how to use a CRM system, but rarely given the necessary training on "soft skills" required to manage a customer relationship.
At the end of the day CRM boils down to:
Doing what you say you'll do
Doing what you say you'll do when you say you'll do it
Doing more than expected in a way that is noticed and relevant
