what does crm stand for in marketing

CRM stands for "Customer Relationship Management". It refers to the principles, practices, and guidelines that an organization follows when interacting with its customers. CRM software or technology is a tool or system of tools that help businesses aggregate, organize, and analyze customer information data to better manage relationships with customers. A CRM tool lets you store customer and prospect contact information, identify sales opportunities, record service issues, and manage marketing campaigns, all in one central location. CRM tools can be used to manage customer relationships across the entire customer lifecycle, spanning marketing, sales, digital commerce, and customer service interactions. CRM applications built for smartphones and tablets have become a must-have for sales representatives and marketing professionals.