Role of AI-Powered CRM in Business
Syed Tabassum Sultana, Thota Venkat Narayana Rao · Advances in marketing, customer relationship management, and e-services book series · 2024
Customer Relationship Management (CRM) involves a range of approaches and technologies employed by businesses to evaluate customer interactions and information across the entire customer journey. Its primary objective is to enhance customer service, bolster customer loyalty, and stimulate sales expansion. CRM platforms aggregate customer data from various points and channels, company's website, phone calls, live chat, mailings, promotional materials, and social media platforms. CRM systems equip frontline staff with comprehensive insights into personal details, purchasing patterns, preferences, empowering them to better serve customers. The current chapter introduces the CRM systems and components of CRM. AI powered CRM uses components such as Marketing, Sales automation so as increase the business productivity, reduce the customer churn by increasing customer loyalty. Section two of the chapter discusses various types of CRM Technology. Section 3 discusses how CRM changes the business. In the last section the benefits and challenges of AI powered CRM are discussed.