Customer Relationship Management [CRM]
Customer Relationship Management (CRM) is a widely-implemented strategy for managing a company’s interactions with customers, clients and sales prospects. It involves using technology to organize, automate, and synchronize business processes—principally sales activities, but also those for marketing, customer service, and technical support.
The overall goals are to find, attract, and win new clients, nurture and retain those the company already has, entice former clients back into the fold, and reduce the costs of marketing and client service
Customer relationship management describes a company-wide business strategy including customer-interface departments as well as other departments
Measuring and valuing customer relationships is critical to implementing this strategy