What is Customer Relationship Management (CRM)? ...And How to Use it.

Customer Relationship Management, or CRM for short is a simple idea. Learn about your potential customers, and use that knowledge to strengthen your relationship with them. Use your stronger relationship to sell them your products or services. And then to sell them more.
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Marketing for Managers
This video is part of course module number 8.3.3
Program 8: Managing Customers & Clients
Course 3: Marketing for Managers
Section 3: Marketing Mix
Other videos in this section include:
🎬 What is the Marketing Mix - The 4Ps? • What is the Marketing ...
🎬 Marketing Mix: Product - What is the Product Marketing? • Marketing Mix: Product...
🎬 Marketing Mix: Price and Pricing Strategy • Marketing Mix: Price a...
🎬 Marketing Mix: Place • Marketing Mix: Place a...
🎬 Marketing Mix: What is Promotion? • Marketing Mix: Craftin...
🎬 Marketing Mix: What is Positioning? • Marketing Mix: The Fif...
🎬 What is the Marketing Channel Mix? • What is the Marketing ...
🎬 What is Public Relations (PR)? • What is Public Relatio...
🎬 Guy Kawasaki: What is Enchantment? • Guy Kawasaki: What is ...
🎬 Seth Godin: What are Tribes? • Seth Godin: What are T...
LESSON NOTES
Customer Relationship Management (CRM) is the process of managing an organization’s relationships and interactions with its current and potential customers. If you improve your knowledge about them, you can better target marketing, offers, promotions, and sales messages. That means more sales and more profit.
Not-for-profits and governmental organizations use CRM as a way to improve the services they offer to their clients and service users.
Today’s CRM systems draw information from:
- the organization’s own marketing, sales, and customer care records.
- online databases held by businesses like social media platforms.
- bought data
A CRM system is a software tool that helps with, for example:
• Contact management
• Customer intelligence
• Sales management
• Marketing automation
• Customer service
How to do Customer Relationship Management
1. Set up a System
2. Gather Data
3. Build the Culture
4. Identify Leads and Communicate with Them
5. Improve Your Products and Services
RECOMMENDED EXERCISE
Does your organization have a CRM system? If it does...
1. What tools do you use? (1 MC CPD Points)
2. What other capabilities does it have? (1 MC CPD Points)
3. How would you assess the culture within your organization, regarding the use of CRM? (2 MC CPD Points)
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RECOMMENDED READING
📖 Very quick overview
Marketing: A Very Short Introduction geni.us/ozSJF
📖 Good general overviews
Kotler on Marketing geni.us/JNeVHy
Positioning: The Battle for Your Mind geni.us/kGj4KCA
The 22 Immutable Laws of Marketing geni.us/RVU1
Marketing For Dummies geni.us/sZXAw
📖 Small business marketing
The 1-Page Marketing Plan geni.us/Xb4wBk
📖 For a textbook, you can’t go wrong with Kotler’s name on it!
Marketing: An Introduction geni.us/q4gzVOw
Principles of Marketing geni.us/gsFeMT5
Marketing Management geni.us/i3FO
⭕️ Links to our book recommendations are affiliated through Amazon
Managers Need a Basic set of kit to do your job well. Here are my top recommendations: kit.co/MikeClayton/manager-s-... (the links are affiliated)
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#Marketing #ManagementCourses #CRM

[@ManagementCourses]

What can be more important for a business than building relationships with its customers? And, if you do that, how will you track each relationship and make it easier to take the next steps? These are among the tasks for CRM: Customer Relationship Management. Thank you for watching - please do like, subscribe, and hit the notification bell so KZbin knows to let you know when I produce more videos.

[@say7834]

I wish I could replace you as my CRM instructor. Since I have zero background in this field, I have trouble understanding the core concept and purpose of CRM during classes but your 9:58 mintues video explained everything I need to know. Thank you Mike! Good job!

[@ManagementCourses]

You're very welcome. Thank you.

[@golbartari8084]

Great, thanks

[@ManagementCourses]

You're welcome.

[@lucymebe608]

Thank you for a simplified explanation of CRM, very important aspect in SCM

[@ManagementCourses]

You're very welcome.

[@agentjane]

Thank you for this very comprehensive explanation about CRM Sir! ~ 😊❤

[@ManagementCourses]

You're very welcome.

[@wendysibisi6692]

Thank you for such a great explanation.Ive been struggling to understand this part of my role and most content speaks to the technology.I am more confident to begin my journey ❤

[@ManagementCourses]

You're very welcome! I agree that too many writers and speakers see CRM as a technology capability. The tech is merely a toolset to help us manage relationships with our customers.