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Customer relationship management (CRM) is a system for managing all of your company’s interactions with current and potential customers. The goal is simple: improve relationships to grow your business. CRM technology helps companies stay connected to customers, streamline processes, and improve profitability.
When people talk about CRM, they’re usually referring to a CRM system: software that helps track each interaction you have with a prospect or customer. That can include sales calls, customer service interactions, marketing emails, and more.
CRM tools can unify customer and company data from many sources and even use AI (artificial intelligence) to help better manage relationships across the entire customer lifecycle, spanning departments like marketing, sales, digital commerce, and customer service interactions.
That’s the CRM definition. So why is CRM important, and who can benefit? Let’s take a look.
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