what is a crm

CRM stands for "Customer Relationship Management" and refers to the principles, practices, and guidelines that an organization follows when interacting with its customers. It is a process in which a business or other organization administers its interactions with customers, typically using data analysis to study large amounts of information. 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 systems compile data from a range of different communication channels, including a companys website, telephone, email, live chat, marketing materials, and social media. A CRM system essentially provides a central place where businesses can store customer and prospect data, track customer interactions, and share this information with colleagues. It helps businesses manage relationships with customers, helping the business to grow. A CRM connects all the data from your sales leads and customers, all in one place, and consolidates all communications, documents, quotes, purchases, and tasks associated with each lead and client.