CRM stands for Customer Relationship Management. It is a business strategy that involves managing and analysing a company's interactions with its customers and potential customers, with the goal of improving customer relationships, increasing customer satisfaction, and ultimately, driving sales growth.
CRM software tools are used to manage customer interactions and automate certain processes, such as customer data management, lead tracking, and marketing campaign management. By using these tools, businesses can provide better customer service and more personalized experiences, resulting in increased customer loyalty and retention.
CRM systems also provide businesses with valuable insights into customer behavior and preferences, which can be used to inform sales and marketing strategies. Additionally, by tracking customer interactions across multiple channels, businesses can better understand the customer journey and identify opportunities to improve customer experiences.
Overall, CRM is an important aspect of modern business, as it helps companies build stronger, more loyal customer relationships and drive business growth.