What Is Crm

We need first of all to define what CRM is and how does it works, and then define what is fast fashion. Then we will analyze the French market on fast fashion and try to answer the question.

1) CRM

Customer Relationship Management is a strategy for managing all your company’s relationships and interactions with your customers and potential customers. It helps you improve your profitability. CRM enables you to focus on your organization’s relationships with individual people whether those are customers, service users, colleagues or suppliers. Some of the biggest gains in productivity can come from moving beyond CRM as a sales and marketing tool and embedding it in your business from HR to customer services and supply chain management.

In every cases, and really important in fast fashion, which is a sector in constant evolution, a CRM system helps your business grow because it tracks the history of customer interactions.

Why is this important? Because tracking is everything.

If customer relationships are the heart of business success, then CRM is the valve the pumps a company's life blood. As such, CRM is best suited to help businesses use people, processes, and technology to gain insight into the behavior and value of customers. This insight allows for improved customer service, increased call center efficiency, added cross-sell and upsell opportunities, improved close rates, streamlined sales and marketing processes, improved customer profiling and targeting, reduced costs, and increased share of customer and overall profitability.

To resume, with a good CRM strategy you are able to:

• Generate more leads

• Increasing productivity

• Closing more deals

• Improving customer’s satisfaction

• Enhancing retention rates

• Sharing information between people

This is why it’s crucial for each company nowadays to have a good CRM strategy.