CRM Meaning and Definition
CRM stands for Customer Relationship Management. It is a strategy for managing all aspects of a company’s interactions with their customers. CRM involves using technology to track and manage customer interactions, analyze customer data, and improve customer service.
CRM Goals
The goal of CRM is to create a positive customer experience that will lead to increased customer loyalty and repeat business. CRM can be used to improve customer service, sales, and marketing efforts.
CRM Components
CRM systems typically include the following components:
- 360 Customer data management
- Sales management
- Marketing automation
- Customer service management
- Predictive Analytics
CRM Benefits
CRM can provide a number of benefits for businesses, including:
- Improved customer service
- Increased sales
- Improved marketing effectiveness
- Reduced costs
- Improved customer loyalty
