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 variety of strategies, processes, 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 operations by centralizing customer data. This data can include contact information, purchase history, communication preferences, and even social media activity. By having a 360-degree view of the customer, businesses can personalize their interactions and offer tailored solutions. This personalized approach can lead to increased customer satisfaction and improved retention rates.