Knowledge Base

What Is Customer Relationship Management (CRM)?

Customer relationship management (CRM) refers to the principles, practices, and guidelines that an organization follows when interacting with its customers.

From the organization’s point of view, this entire relationship encompasses direct interactions with customers, such as sales and service-related processes, forecasting, and the analysis of customer trends and behaviors. Ultimately, CRM serves to enhance the customer’s overall experience.

The point of CRM

Elements of CRM range from a company’s website and emails to mass mailings and telephone calls. Social media is one-way companies adapt to trends that benefit their bottom line. The entire point of CRM is to build positive experiences with customers to keep them coming back so that a company can create a growing base of returning customers.

Increasingly, the term CRM is being used to refer to the technology systems companies can engage to manage their external interactions with customers at all points during the customer lifecycle, from discovery to education, purchase, and post-purchase.

Benefits of CRM

A CRM system helps businesses organize and centralize their information on customers, allowing for easier access and customer support. Businesses use CRM systems to optimize sales and marketing and improve customer retention. Data analytics is also much easier, where businesses can track the success of various projects or campaigns, identify trends, infer associations, and create visually intuitive data dashboards.