Acronym and definition
CRM stands for Customer Relationship Management. CRM is more than just a technology; it's a strategy that companies employ to manage and analyze customer interactions throughout the customer lifecycle. The primary goal of CRM is to improve business relationships, driving growth and profitability.
A CRM system serves as a central hub for customer data, helping companies stay connected to their customers, streamline processes, and ultimately, enhance the customer experience. By consolidating customer information from various channels – including the company's website, phone, email, live chat, and social media – CRM provides a 360-degree view of each customer, enabling businesses to deliver personalized, timely, and consistent service.