CRM stands for Customer Relationship Management. It refers to the strategies, processes, and technologies that companies use to manage and analyze interactions with current and potential customers throughout the customer lifecycle. The main goal of CRM is to improve customer relationships, enhance customer satisfaction and retention, and ultimately drive business growth and profitability
. CRM is often associated with software systems that help businesses organize, automate, and synchronize sales, marketing, customer service, and support. These systems collect data from various customer touchpoints (such as calls, emails, social media, and purchases) to provide a comprehensive view of each customer, enabling personalized communication and better management of customer interactions
. The acronym breaks down as follows:
- Customer : The focus on understanding and serving the customer.
- Relationship : Building and maintaining strong, long-term relationships.
- Management : Effectively managing customer data, interactions, and business processes to improve service and sales outcomes
CRM systems are widely used across industries and company sizes to streamline processes, improve collaboration among teams, and enhance the overall customer experience
