Companies can wield CRM to:
- Gather market research on customers, in real time if necessary
- Generate more reliable sales forecasts
- Coordinate information quickly between sales staff and customer support reps, increasing their effectiveness
- Enable sales reps to see the financial impact of different product configuration before they set prices
- Accurately gauge the return on individual promotional programs and the effect of integrated marketing actives, and redirect spending accordingly
- Feed data on customer preferences and problems to product designers
- Increase sales by systematically identifying and managing sales leads
- Improve customer retention - Design effective customer service programs