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customer relationship management
Sign in to saveAlso known as Customer Relationship Management System, CRM system, CRM Management, Company Resource Management system, customer-relationship management
process of managing interactions with customers
Customer relationship management (CRM) is the process of managing how a company interacts with its customers. It matters because these interactions help businesses build stronger connections with customers and improve how they serve them.
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Customer relationship management (CRM) is a strategic process that organizations use to manage, analyze, and improve their interactions with customers. By using data-driven insights, CRM often involves dedicated information systems that help store and analyze customer data, support communication, and coordinate sales, marketing, and service activities.
CRM systems compile data from a range of different communication channels, including a company's website, telephone (which many services come with a softphone), email, live chat, marketing materials, and more recently, social media. They allow businesses to learn more about their target audiences and how to better cater to their needs, thus retaining customers and driving sales growth. CRM may be used with past, present or potential customers. The concepts, procedures, and rules that a corporation follows when communicating with its consumers are referred to as CRM. This complete connection covers direct contact with customers, such as sales and service-related operations, forecasting, and the analysis of consumer patterns and behaviours, from the perspective of the company.