what crm

Customer Relationship Management (CRM) is a process in which a business or organization administers its interactions with customers, typically using data analysis to study large amounts of information. It involves the combination of practices, strategies, and technologies that companies use to manage and analyze customer interactions and data. A CRM system helps companies stay connected to customers, streamline processes, and improve profitability by managing all customer relationships and interactions, including contact management, sales management, agent productivity, and more. CRM systems compile customer data across different channels and points of contact between the customer and the company, such as the companys website, telephone, live chat, direct mail, marketing materials, and social networks. The goal of CRM is to improve business relationships to grow the business and to better understand and anticipate customer needs. CRM technology includes software, cloud computing, and artificial intelligence, and it is useful at all points during the customer lifecycle, from discovery to education, purchase, and post-purchase. Overall, CRM is a comprehensive approach that encompasses technology, strategy, and an integrated philosophy to effectively manage customer relationships and interactions.