CRM

Stands for Customer Relationship Management.

CRM refers to strategies, technologies, and practices businesses use to manage customer interactions and data. The goal is to enhance customer relationships, increase customer retention, and drive sales growth.

In the current digital age, establishing and maintaining meaningful customer relationships can be difficult. This is especially true in e-commerce, where personal interactions are limited. CRM systems play a pivotal role in enhancing customer relationships through personalized communication and exceptional customer service.

Customer Relationship Management solutions integrate various functions, such as sales, marketing, customer service, and support. By leveraging data analytics, businesses can gain valuable insights into customer behavior, preferences, and needs. These insights enable them to tailor their offerings and interactions to individual customers and clients.

While analytics are helpful, effective CRM requires understanding and anticipating customers' needs. Even the most advanced tools can't replace genuine customer service.

Updated July 11, 2024 by Per C.

quizTest Your Knowledge

What is the purpose of the DHCP protocol?

A
It encrypts file transfers over the Internet.
0%
B
It authenticates a user's identity using a directory server.
0%
C
It transmits email messages from a mail server to a client.
0%
D
It assigns a unique IP address to every device that joins a network.
0%
Correct! Incorrect!     View the DHCP definition.
More Quizzes →

The Tech Terms Computer Dictionary

The definition of CRM on this page is an original definition written by the TechTerms.com team. If you would like to reference this page or cite this definition, please use the green citation links above.

The goal of TechTerms.com is to explain computer terminology in a way that is easy to understand. We strive for simplicity and accuracy with every definition we publish. If you have feedback about this definition or would like to suggest a new technical term, please contact us.

Sign up for the free TechTerms Newsletter

How often would you like to receive an email?

You can unsubscribe or change your frequency setting at any time using the links available in each email.

Questions? Please contact us.