Customer relationship management (CRM) is practices, strategies and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle, with the goal of improving business relationships with customers, assisting in customer retention and driving sales growth. CRM systems are designed to compile information on customers across different channels — or points of contact between the customer and the company — which could include the company’s website, telephone, live chat, direct mail, marketing materials and social media. CRM systems can also give customer-facing staff detailed information on customers’ personal information, purchase history, buying preferences and concerns.
CRM tools make the customer-facing functions of business easier. They help you:
Centralize customer information
Automate marketing interactions
Provide business intelligence
Facilitate communications
Track sales opportunities
Analyze data
Enable responsive customer service
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