What Is Customer Relationship Management (CRM)?

Short Definition: Strategies and technologies that improve relationships with customers.

CRM (Customer Relationship Management) is the different ways that companies manage and analyze their customer interactions throughout the buyer’s journey and customer lifecycle to improve relationships with customers.

A CRM allows you to store information on your current customers and prospects in a single, centralized location. A CRM platform allows you to track complex customer data, including contact information, steps in the buyer’s journey, and notes along the way. It can make a sales team’s job more streamlined and easier over the long-term.

Benefits of CRM

Customer Relationship Management consolidates many different aspects of your customer interaction across different channels, including your company’s website, live chat, email, telephone, social media, and more. Many CRM platforms integrate details like customer’s purchase history, buying preferences, and previous concerns to help front-facing staff deal with issues.

Using a CRM can give your company access to features like marketing automation, sales force automation, contact center automation, and more. There are many different CRM platforms on the market to choose from. Learn more about how CRM platforms work here.

Use CRM so your sales, marketing, and other team members to have a central access point for customer information. A CRM platform removes the need for filing cabinets and constant emails about customer information. You’ll save time and money by using CRM and can lead to better retention, brand recognition, and additional referrals.