Customer Relationship Management (CRM)

What is Customer Relationship Management (CRM) ?

CRM is the abbreviation for customer relationship management. CRM entails all aspects of interaction that a company has with its customer, whether it is sales or service-related.  CRM is often thought of as a business strategy that enables businesses to:

  • Understand the customer
  • Retain customers through better customer experience
  • Attract new customer
  • Win new clients and contracts
  • Increase profitably
  • Decrease customer management costs

 

Source: http://www.webopedia.com/TERM/C/CRM.html

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