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CRM is the abbreviation for customer relationship management . It entails all aspects of interaction that a company has with its customer, whether it is sales or service-related. While the phrase customer relationship management is most commonly used to describe a business-customer relationship, CRM systems are used in the same way to manage business contacts, clients, contract wins and sales leads. 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 Netflix Gives Analytics in the Cloud a Starring Role Download Now
Related Terms aspects Partner Relationship Management entity-relationship model (diagram) BPM - business performance management ERP - enterprise resource planning Expert Articles Social CRM Moves Focus from 'Management' to 'Relationship' Job Description: CRM Manager Governance Is Key to Managing Outsourcing Relationships
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technologyespecially the proliferation of self-service channels like the Web and smartphones, customer relationships is being managed electronically. Many aspects of CRM relies heavily on technology; however the strategies and processes of a good CRM system will collect, manage and link information about the customer with the goal of letting you market and sell services effectively.
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