Terminology Definition: Customer Relationship Management (CRM)

What is a CRM? (Customer Relationship Manager)

Customer Relationship Management (CRM) refers to the practices, strategies, and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle. The goal is to improve customer service relationships, assist in customer retention, and drive sales growth. CRM systems compile data from various channels, including websites, phones, emails, live chats, marketing materials, and social media. By understanding their customers better, businesses can provide personalized experiences and foster long-term relationships.