Customer relationship management (CRM) is a strategic approach to managing a company’s interactions with current and potential customers. It involves understanding customer needs, building strong relationships, and ultimately driving sales and customer loyalty. CRM encompasses a combination of practices, strategies, and technologies that organizations use to manage and analyze customer interactions and data throughout the customer lifecycle. A common example of CRM in action is a personalized email marketing campaign based on past customer purchases and browsing history.
Customer Relationship Management
CRM systems help businesses streamline their interactions, improve customer satisfaction, and increase profitability. These systems can range from simple spreadsheets to complex software solutions that automate various aspects of the customer journey. By centralizing customer data, businesses gain valuable insights into customer behavior and preferences. This data-driven approach allows companies to tailor their offerings and marketing efforts to better meet customer needs.