CRM software allows users to store and display every piece of information they have about a customer, all in one place. Once the information is collated, the software will then allow you to use it to make better decisions regarding how to service them and how to maximise the return on your relationships.
With CRM, the possibilities are endless. For each individual customer, your chosen CRM software might be able to show you when you first made contact, how they reached you, how often they browse your website, their average purchase or order value, if they’ve ever had a complaint, their preferred method of contact, or virtually any other piece of information you can imagine.
Taken alone, each of these data points are useful, and can help you manage individual relationships better. But collected together and properly analysed, the information allows companies to make better decisions in aggregate, based on a deeper understanding of the ways in which your customers behave generally. CRM software is useful, therefore, not only in streamlining individual customer relationships, but also in building better business processes in general.