In the context of business, CRM stands for Customer Relationship Management. It refers to the practices, strategies, and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle. The goal of CRM is to improve customer service relationships, assist in customer retention, and drive sales growth.
A CRM system is a software tool or system of tools that helps businesses aggregate, organize, and analyze customer information data to better manage relationships with customers. It can be used to manage customer relationships across the entire customer lifecycle, spanning marketing, sales, digital commerce, and customer service interactions. A CRM system gives everyone in the organization a better way to manage the external interactions and relationships that drive success.
